John,
There has been some previous discussion on whether to cash a deposit cheque or return it uncashed... I'm sure others weigh in, but I recommend that you begin a policy of cashing the deposit check and returning a new check once the clients' stay is over.
SOS - ASAP!! Should I be worried?
- Giddy Goat
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Security deposits
Hi John - thanks for your input re security deposits. What awful luck you had with those guests, and then the hassle of clawing back something for putting the property to rights again. A one-off we hope!
I agree with Brooke and Alexia: the owner should actually bank the security deposit, otherwise it's potentially a bit of a nonsense. We had a similar experience to you, on a slightly smaller scale, and our caretakers had to return the next day to put in several extra hours to restore order. Having banked the security deposit at the time the clients paid the balance, I was later able to write to them and explain that I was only able to return a portion of it because ...etc etc and they did apologise. But by adopting that policy, it does put an extra financial burden on the client, which is why I have to date kept the deposit perhaps a bit too low for my own good.
Alexia, is the £400 per week of stay? Do you think it should be more - I think the beauty therapist and I are in for the long haul.
I agree with Brooke and Alexia: the owner should actually bank the security deposit, otherwise it's potentially a bit of a nonsense. We had a similar experience to you, on a slightly smaller scale, and our caretakers had to return the next day to put in several extra hours to restore order. Having banked the security deposit at the time the clients paid the balance, I was later able to write to them and explain that I was only able to return a portion of it because ...etc etc and they did apologise. But by adopting that policy, it does put an extra financial burden on the client, which is why I have to date kept the deposit perhaps a bit too low for my own good.
Alexia, is the £400 per week of stay? Do you think it should be more - I think the beauty therapist and I are in for the long haul.
Last edited by Giddy Goat on Sun Dec 11, 2005 9:59 am, edited 1 time in total.
Nostalgia isn't what it used to be
Jane,
The £400 is per stay (I don't take long stays).
A dishonest visitor whose sec dep cheque hasn't been cashed will know that the owner has ne redress. Not all visitors are honest.
ps Jane, pet, your ears still haven't been tended - the beauty therapist is in for a very long haul. You may have to increae the rent...
The £400 is per stay (I don't take long stays).
A dishonest visitor whose sec dep cheque hasn't been cashed will know that the owner has ne redress. Not all visitors are honest.
ps Jane, pet, your ears still haven't been tended - the beauty therapist is in for a very long haul. You may have to increae the rent...
Best,
Alexia.
Alexia.
- Giddy Goat
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OK Alexia - I'll up my deposit to the same, so thanks very much for that.
I'm still saving for the ear surgery, but have found a good milliner pro-tem - it's called 'Chevres Chapeaux' ....
www.gasconymagic.com
I'm still saving for the ear surgery, but have found a good milliner pro-tem - it's called 'Chevres Chapeaux' ....
www.gasconymagic.com
Nostalgia isn't what it used to be
I'm never sure about this one!I always cash the cheque but am not sure what is the right amount .I increased the deposit mid season this year,from £150 to £200 and it didn't seem to make any difference to renters.I charge £200 for the 1st week and £150 each subsequent week.I have people in at the moment who booked for 10 days originally and I just asked for the £200 but they have now added days onto their stay and I am left with just the £200 which would be totally inadequate if there was any damage.Hmmm...maybe a rethink is needed? Like Jane, I didn't want to ask for too much and put people off.It's judging the "how much" that's the tricky bit!!
www.thepetitmanoir.com
www.thepetitmanoir.com