How do you decide what to charge?I have seen houses that ask for £1000 a week. Will people pay this? I know it depends on your target market and how many it sleeps. We charge £150 per week but this really isn't enough! We have paintings etc that are worth more than that and if someone badly damaged a sofa it would be in 4 figures to replace.Damage to the pool could cost an arm and a leg too. Ho hum..... How do others decide? What sort of figure do you think is realistically acceptable for a fairly upmarket property?
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Security deposit
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Hells Bells
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I'd be interested too, although our property is only small (or rather will be), it was marketed for sale as luxury, and is being equipped with top of the range appliances and bathroom fittings by the builders. I was thinking along the lines of £150 but agree that some things will be more expensive to replace if dmaged. Can you insure against that sort of thing?
I help out friends in France with larger homes nearby, which are reasonably 'upmarket' and this is what they charge for security deposit:
3-bedroom with pool: 600 euros
4-bedroom with pool: 600-1000 euros, sliding scale depending on number of people
5-bedroom with pool: 600 euros
For my own smaller houses, if I have a couple who I know from emails/phone calls - don't tell anyone but I don't ask for a security deposit! My reasoning is that if I tell them that I trust them to declare any breakages they will feel they are being treated more like guests than customers, and will treat the place really well. And so far they have. But I wouldn't do that if I were in the families market.
3-bedroom with pool: 600 euros
4-bedroom with pool: 600-1000 euros, sliding scale depending on number of people
5-bedroom with pool: 600 euros
For my own smaller houses, if I have a couple who I know from emails/phone calls - don't tell anyone but I don't ask for a security deposit! My reasoning is that if I tell them that I trust them to declare any breakages they will feel they are being treated more like guests than customers, and will treat the place really well. And so far they have. But I wouldn't do that if I were in the families market.
Paolo
Lay My Hat
Lay My Hat
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Hells Bells
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Alan Knighting
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Our decision of a rental deposit was fairly arbitrary... €250 per week. That's 25% of the booking price during the on-season, and 33% of it during the off-season. We didn't want it to be so high that it would scare people away, but of course we needed to be covered!
I haven't seen many other people who increase the size of the deposit if the stay is longer, but that's just what made sense to us. We also collect it at the time of booking -- it's a show that the client really is serious if they're willing to give us more money up front, but since the damage deposit is always refundable, the client also knows that if they have to cancel, they can at least get that back.
So far we haven't needed to use it. People have reported a broken cup or similar, and (shh) we just say, "thanks for telling us, and don't worry about it!" Hopefully that small generosity will make them seriously consider staying with us again.
It's true, though, that if a couch needed to be replaced, it would cost more than the deposit. In that case, I believe it's in our contract that the client is responsible for paying the difference.
I haven't seen many other people who increase the size of the deposit if the stay is longer, but that's just what made sense to us. We also collect it at the time of booking -- it's a show that the client really is serious if they're willing to give us more money up front, but since the damage deposit is always refundable, the client also knows that if they have to cancel, they can at least get that back.
So far we haven't needed to use it. People have reported a broken cup or similar, and (shh) we just say, "thanks for telling us, and don't worry about it!" Hopefully that small generosity will make them seriously consider staying with us again.
It's true, though, that if a couch needed to be replaced, it would cost more than the deposit. In that case, I believe it's in our contract that the client is responsible for paying the difference.
Brooke
"We also collect it at the time of booking "
Is this usual? I never thought of that, I sort of assumed one asked for it at the time of final payment ie. 8 weeks before or whenever? 25% of cost of high season would mean charging £100 more per week but then going on Brooke's figures, 33% of low season is about what we do charge. Mmmm, food for thought for next years pricing I think.....
www.thepetitmanoir.com
Is this usual? I never thought of that, I sort of assumed one asked for it at the time of final payment ie. 8 weeks before or whenever? 25% of cost of high season would mean charging £100 more per week but then going on Brooke's figures, 33% of low season is about what we do charge. Mmmm, food for thought for next years pricing I think.....
www.thepetitmanoir.com
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Normandy Cow
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We ask for a £200 deposit, to be paid one week before the start of the holiday. I don't think it is fair to ask them to pay the security deposit months in advance.
However, to make it easier for them so that they don't have to remember to do it at the time, I suggest that they send me a post-dated cheque at the time of the final payment (which is 8 weeks prior to the holiday), and I then pay it in to my account myself at the time, and then send them a cheque back when they have left.
So far, I have never had to deduct anything from the deposit. (Yes, we have had the odd broken crockery and glassware, but you really have to take this sort of thing on the chin and put it down to normal wear and tear - but if someone were to break a great many items then we would charge them as they would obviously have not been as careful as one would expect).
However, to make it easier for them so that they don't have to remember to do it at the time, I suggest that they send me a post-dated cheque at the time of the final payment (which is 8 weeks prior to the holiday), and I then pay it in to my account myself at the time, and then send them a cheque back when they have left.
So far, I have never had to deduct anything from the deposit. (Yes, we have had the odd broken crockery and glassware, but you really have to take this sort of thing on the chin and put it down to normal wear and tear - but if someone were to break a great many items then we would charge them as they would obviously have not been as careful as one would expect).
I think it is definitely unusual to ask for the security deposit at the time of booking.
We do it because we don't ask for a really large non-refundable deposit, but we do want the client to make a (mental, emotional) commitment. However, the decision to do that was also fairly arbitrary. We've never had a problem filling up our season, but I wonder if that puts people off booking.
If anyone ever asked for the interest on their deposit to be returned along with their deposit, we'd happily oblige. We don't earn interest on it (though we could, but we just haven't connected our PayPal account to a savings account), but it's their right to ask.
We do it because we don't ask for a really large non-refundable deposit, but we do want the client to make a (mental, emotional) commitment. However, the decision to do that was also fairly arbitrary. We've never had a problem filling up our season, but I wonder if that puts people off booking.
If anyone ever asked for the interest on their deposit to be returned along with their deposit, we'd happily oblige. We don't earn interest on it (though we could, but we just haven't connected our PayPal account to a savings account), but it's their right to ask.
Brooke
I've only ever had to cash in a deposit once...they did set the house on fire!!
But I find it a tricky one...I take a £250 at time of booking which is not banked...but if booking is longer than 6 months old the cheque is invalid anyway!...I totally rely on good will the truth be known.
It is a serious flash point between me & my husband....but the way I look at it - if it is a cup/plate/glass, what have you, am I really going to bank the £250 for £1.50?...I look at it as wear & tear...but if I have ANY doubts about anyone then I will be stronger at time of booking.
My worst has been a Barrister with his partner & his grown up children & then young couple that came without Nanny with 3 children under 6 - she hadn't a clue how to control them...thus the fire
But that is just 2 out of probably 200+ families staying...so not bad!!
Alan you are on site which I think makes a difference - and interestingly I'm very close friends with our neighbours at our Utah Beach house...I think that makes a difference being able to say to our guests any problems go to them!..bit big brother but
But I find it a tricky one...I take a £250 at time of booking which is not banked...but if booking is longer than 6 months old the cheque is invalid anyway!...I totally rely on good will the truth be known.
It is a serious flash point between me & my husband....but the way I look at it - if it is a cup/plate/glass, what have you, am I really going to bank the £250 for £1.50?...I look at it as wear & tear...but if I have ANY doubts about anyone then I will be stronger at time of booking.
My worst has been a Barrister with his partner & his grown up children & then young couple that came without Nanny with 3 children under 6 - she hadn't a clue how to control them...thus the fire
But that is just 2 out of probably 200+ families staying...so not bad!!
Alan you are on site which I think makes a difference - and interestingly I'm very close friends with our neighbours at our Utah Beach house...I think that makes a difference being able to say to our guests any problems go to them!..bit big brother but
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Alan Knighting
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