Down Payment and Security Deposit

On this screen in the Property Assistant, the balance due amount and when the balance is due can be set. Additionally, if a Security Deposit is required from the guest, this can be configured here to apply to Vrbo bookings.

Balance Payment

In the Balance Payment field, enter the number of weeks prior to arrival that the balance for the booking would be due.

When the value is set to 0, the entire balance will be due at the time that the reservation is made.

Down-payment Amount

Specify which down-payment option applies for the property from the following options:

1. Fixed down-payment per booking - Enter the amount to charge as a down-payment as one fixed rate.

2. Specific Amount Per Week/Part of Week - Select how much to charge as a down-payment per week booked; for example, if  $100 is entered and the property was booked for four weeks, then the down-payment would be charged at $400).

3. Percentage of Quoted Price > Select a percentage amount to charge for the entire booking; for example, if the reservation is for $1000 and a 20% deposit is required, the down-payment would be $200.

If the percentage down-payment should be taken from the total amount including additional fees and taxes, click the checkbox, "Percent of Total to include optional extras."

4. The First Night's Rent > This will divide the days of the entire booking equally and charge the first night's rent as a down-payment.

Please note, the channels only support the fixed and percentage down-payment options.

Security Deposit

A Security Deposit is a temporary hold of funds that is placed to the guest credit card on file in case any incidentals or damages occur during their stay. Typically, the security deposit is processed on the day of arrival and refunded on the departure date upon inspection of the property and if no damages are found.

The security deposit amount can be itemized for Vrbo bookings by configuring the below:

  1. Click "View/Edit Templates"
  2. Click the "Plus" icon to add a new template
  3. Enter a title, the amount, and a description
  4. Click the "Save" and then the blue save button

Once the template has been created, specify it for this property by choosing it from the dropdown and choose "Security Deposit Only:"

Please keep in mind, this feature is only supported by Vrbo and simply itemizes the security deposit amount to the guest. The hold will psychically need to be processed on the day of arrival. The system does NOT auto-process the hold.

Once complete, check the "Click if you have completed this page" box to store the settings and click the Next button to continue to the next page, or use the dropdown menu to select another feature.