The damage protection is a non-refundable fee to be paid by the guest instead of the validation of the security deposit.
N.B.: it works only with Stripe security deposit
Once activated, on the security deposit payment link, the guest will have the option to:
- validate security deposit
- pay damage protection
Workflow
How it works:
- The office enables damage protection and sets the fee; each property can then be tuned individually
- When a security deposit payment link is created, if the guest is eligible he can see the option
- The guest picks an option on the payment page; the same link switches between the deposit and the fee until it is paid
- The fee is charged immediately - no hold, no renewals - and cannot be refunded
- Once paid, the reservation counts as deposit-covered: unpaid-deposit reminders stop, no new deposit link is created, and the reservation page shows the paid damage protection. The guest receives a payment statement as usual
- The fee is added to the reservation’s Extra revenue (Finance tab)
- A Payment Link invoice is generated
- If you subscribed to RentalReady payment system, it creates and closes a resolution 100% to the property manager, in Damage protection resolution category
N.B.: if the reservation is cancelled before the day of check-in, the damage protection fee will be automatically refunded in full to the guest’s card. If the reservation is cancelled on the check-in day itself or after: no refund. Also, if the cancelled reservation has a still-standing extension, the fee stays, as the extension is the stay happening.
Set up damage protection
To set up damage protection, you must activate it at office level and then apply on the properties you want.
Step 1. Activate Stripe security deposit
Security deposit with Stripe must activated first
Please check this article on how to set it up: Stripe security deposit workflow
The rules you will select here will define on which reservations and platforms the damage protection is working.
N.B.: Airbnb, midterm reservations and multi-units are excluded for now.
Step 2. Activate at office level
From the main menu, go to Configuration > Offices
On the last column Actions, click on ... > Edit
In the Deposit section, click on Enable damage protection
Fill the form:
- Set the percentage
- Disable/enable the high risk properties/reservations
- Write the terms and conditions
Click save changes
N.B.: The terms are saved into each payment link when it is created. Editing them later does not change links already sent, and links created before the terms were written show no terms.
Step 3. Apply on properties
From the property page, click on Edit
Go to General tab > Deposit and City tax section
Enable damage protection
Set the percentage (if different from office default)
Click on save