How much do you take upfront to book?

[revdev]

Using Manzanillas words, with slightly different numbers...

25% on booking (non-refundable)
75% two calendar months before arrival (cancellation terms apply)
Cash damages deposit paid on arrival, refunded on departure if no substantive damage has occurred.

[Margaret]

50% on booking (not a booking without it!) and 50% 2 months before, no deposit. Guests seeem happy witth this - never had a refusal. A split payment seems to be essential.

[Essar]

Without doubt a split payment is the way most people work.

The variations based on the response so far seem to be:-

Deposit or Booking charge percentage - 20% or 25% or 30% or 40% or 50% (Some apply a minimum such as £100)
Balance due at - 4-weeks or 6-weeks or 8-weeks (and calendar months)
Security deposit - Yes or No (divided), Yes's also not charging repeat guests or "on a feeling about the guest"
Security deposit payable - With balance or on-arrival (usually cash)
Security deposit amount - £100 or £150 or £200 or £250 (Either a one-off or per week or part)
Security deposit refund - On-departure (usually cash) or 3-days after departure or 5-days ad or 7-days ad or 14-days ad (Some agents state 30-days ad)

Those not having a security deposit obviously have less hassle.

Then there are extras such as Wi-Fi, cleaning, local tourist taxes, VAT, cots, highchairs, dogs, etc.

Then there are discounts....

These variations also go to show that the payment regimes imposed by the likes of HL/HA/FK are NOT flexible enough (PLEASE NOTE SITE OPERATORS).

[Beachcondo]

Security deposit - Yes or No (divided), Yes's also not charging repeat guests or "on a feeling about the guest"
Security deposit payable - With balance or on-arrival (usually cash)
Security deposit amount - £100 or £150 or £200 or £250 (Either a one-off or per week or part)
Security deposit refund - On-departure (usually cash) or 3-days after departure or 5-days ad or 7-days ad or 14-days ad (Some agents state 30-days ad)

Those not having a security deposit obviously have less hassle.

I would like to add my special:
Choice between a $500, refundable security deposit or
a $50, non-refundable, security deposit waiver that covers up to $500 in damage.
Most people choose the non-refundable $50.

My thoughts are that less than every 10th customer will do a damage where you'll deduct money from their sec dep, anyway.
I have money in my pocket to cover the rare occasion that it would be needed.
I don't have to hassle the customer and they feel good about having a choice.

It's kind of an damage insurance, where I'm the insurance company, so no problems with claims....

[Sam V]

I would like to add my special:
Choice between a $500, refundable security deposit or
a $50, non-refundable, security deposit waiver that covers up to $500 in damage.
Most people choose the non-refundable $50.

My thoughts are that less than every 10th customer will do a damage where you'll deduct money from their sec dep, anyway.
I have money in my pocket to cover the rare occasion that it would be needed.
I don't have to hassle the customer and they feel good about having a choice.

It's kind of an damage insurance, where I'm the insurance company, so no problems with claims....

I love this idea, having just found out from my manager that quite a few guests are not leaving the villa as clean as it should be left as per T&Cs (washing up not done, etc) and she's been paying our cleaner the extra cleaning expenses. A paid up front option does mean I dont have to do that horrible return email stating I'm deducting £# for extra cleaning then facing an angry response deniying any wrong doing. My only concern would be if guests pay the non refundable option, would they also be less considerate?

I ask for a 30% deposit with final balance and £300 security deposit 8 weeks to arrival. If a booking is 12+ months in advance, they can opt to pay a 15% depost on booking and 15% January '14 and final balance at 8 weeks. I state the deposit refund is returned within 21 days, although its usually within a few days of thier return. I only state 21 days to cover myself if I am on holiday too!

[revdev]

Very interesting post BeachCondo...food for thought

[Essar]

Beachcondo

Thanks for the great idea - I do love this site for giving people food for thought.

I shall have to ponder this one and see if it fits the British "psyche".

[Beachcondo]

My only concern would be if guests pay the non refundable option, would they also be less considerate?

To be honest, I'm not sure, yet. I got the idea from a rental company that I had a 2 month stint with (I hated everything else about them) and this is the first week that I have guests in that I manage myself.

Most rental agencies on AMI impose a fee similar to this one to have less work after check-out (and earn a bit more). It seems to have worked for them.
I always disliked this "undercover income", but now that people have a choice, they almost always go for the waiver anyway. I guess they don't trust me with the $500?

When local people enquire, I only give them the $500 option, as it's not uncommon for them to invite cousins and friends to stay with them, without telling the owner or agency.

Apart from that, our island is a very quiet place with the beach and "Old Florida Charm" as the big attractions. Mainly families and retired people rent from us, and many Europeans - mostly Brits.

If I was trying to rent the weeks leading up to Easter on Daytona Beach, I would think twice before giving an option, though!