As a property owner or property manager, you must create a sense of responsibility with your guest to preserve the home and prolong its life while limiting wear and tear.

Disclaimer:
We are not lawyers - Consult with a lawyer who is an expert in STR. Find local state VRMA and there should be able to find one or contact the bar association.

Outline:
The need for a comprehensive rental agreement with clearly defined rules and regulations
What is damage insurance
What is a security deposit
What is the difference between the two
Why damage insurance can have the opposite effect of damage prevention
Why you must always secure a security deposit
How much security deposit
The problem we have seen with some online channels - making it difficult. Needs to be structured and automated through their channels,
How to enforce a damage deposit
The negative review threat and how to counter it


Hypothesis
To protect your home and extend its life you should ALWAYS collect a damage deposit, have an inspection protocol and promptly follow up with documentation and or the refund as necessary.

Conclusion
Not collecting a damage deposit from a guest staying in your home some of which are worth hundreds of thousands of dollars opens can encourage problems. Collecting a security deposit can avoid this by creating a sense of guest ownership