What happens if a host wants to collect on their security deposit?
Host-required security deposits are different from other security deposits in that no authorisation hold is placed. Guests will only be charged if the host requests reimbursement for property damage and the guest agrees to pay, or if the host makes a request to collect on their security deposit and the request gets approved by HyraSpace.
If and when a host makes a request to collect on their security deposit, it will be handled according to the Host Guarantee Terms and Conditions. HyraSpace’s Host Guarantee may protect the host if there’s damage to their place or belongings caused by a guest or a guest’s assistance animal. It doesn’t protect theft of cash and securities, non-physical damages, or damage from ordinary wear and tear. It also doesn’t protect bodily injury or property damage to guests or others (those may be covered by Host Protection Insurance).
What to expect if a host makes a request to collect on their security deposit
If a host who required a security deposit says their property was damaged while a guest was staying at their place, here’s the process: