What's you deposit charge?

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bananacake
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What's you deposit charge?

Post by bananacake »

Hi there,

i was just wondering if there was a standard deposit charge that we should be using. Would you say that 50% is ok?
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kendalcottages
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Post by kendalcottages »

I think 25% is pretty standard.

We go for 25% or, if that amounts to less than £100, then £100.
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e-richard
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Post by e-richard »

I go for £250, which happens to be the excess on my insurance, which does cover "damage caused by guests".
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Maurmc
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Post by Maurmc »

We have 25% as our booking deposit, balance due 8 weeks before arrival. 50% seems very high to me.
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wallypott
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Post by wallypott »

It depends on different things and is different amounts depending on who, when and what. At home sometimes its nothing, because I am on site, and I just ask them to tell me if anything gets broken. I say that it will be 100€, but don't always remember to take it.

For new year in the big house, its 1000€ for 12 people, otherwise its normally 500€. On the otherhand I will also accept over occupancy at New Year, and don't charge for it because I already charge a fortune IMO!

I'll accept cheques from French people but otherwise I try to take it using Paypal, because I can refund it and the charges are refunded too.

I would say it needs to be big enough that people respect your stuff, but covering the excess on your insurance seems like a very good idea to me.

Edited to take account of the fact that perhaps this is about the deposit, in which case I take 50% up front, 50% 2 months before arrival, or on arrival for French guests. So far only one person has not wanted to pay 50% in advance and that was for a month next summer - at the time over a year in advance. She said she'd prefer to wait until christmas time to see if was still available. However, in the interim I have put my prices up, so she may well have missed out!
Last edited by wallypott on Thu Sep 15, 2011 7:14 am, edited 1 time in total.
la vache!
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Post by la vache! »

I thought Banacake was talking about the deposit to secure the booking, not the security deposit. I charge 25%. I think 50% is too high, particularly in the current economic climate. I wouldn't want to have the money that early anyway.
Margaret
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Post by Margaret »

We have been taking 50% deposit and 50% 2 months before arrival since the onset of the recession (we used to take 100% at the time of booking). Nobody has ever refused to pay the 50% but we don't actually tell them until they have decided to book.
juliew
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Post by juliew »

For the booking deposit I take 25%, balance 1 month before arrival.

For the security deposit I take £100 on smaller properties and £250 on large villas.

Julie
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Mouse
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Post by Mouse »

50% is standard here...and I take the other 50% plus DD 8 weeks before arrival.

Seems logical to share the risk.

Mouse
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bananacake
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Post by bananacake »

la vache! wrote:I thought Banacake was talking about the deposit to secure the booking, not the security deposit.
Yes thats correct!

By the way do you offer a refund on deposits or is it strictly non-refundable?
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Harborfields
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Post by Harborfields »

We ask for 25% to confirm a reservation, balance due upon arrival. We do not take a security deposit. In case of a cancellation, the reservation deposits are refundable if we are able to re-let the cottage (for the same rate, if we have to discount to get a rental then we would only issue a partial refund if any at all).
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Ju
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Post by Ju »

We take 25%, strictly non refundable, otherwise what is the point?.
Marks
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Post by Marks »

Margaret wrote:Nobody has ever refused to pay the 50% but we don't actually tell them until they have decided to book.
IMHO terms of payment should be mentioned up front not kept back until someone has decided to book. Why would you not mention it?

And to answer the original question: 25% deposit with balance and damage deposit due 8 weeks before the start of the booking.
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Mouse
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Post by Mouse »

Non-refundable from me too (though if I rebooked at full price I would).

Mouse
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kendalcottages
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Post by kendalcottages »

Ours in non-refundable also.
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