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 Hyra Space.
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. Hyra Space’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:
- Within 14 days of your checkout date, the host will contact the guest through our secure Resolution Centre. They’ll describe what was damaged, provide documentation of the damaged or missing items, and request reimbursement. Depending on what was damaged, the amount the host requests may or may not be the same as the security deposit.
- The guest has 72 hours to respond to the host’s request. If the guest agrees to pay the amount requested, we’ll process the payment and send it to the host, which usually takes 5 to 7 business days. The guest can either agree to pay the full amount, choose to pay a different amount, or decline the request. The guest can include a note to the host.
- If the guest doesn’t agree to pay the amount requested, the host can choose to involve Hyra Space. The Hyra Space support specialist will reach out to the guest and will resolve the request according to the Host Guarantee Terms and Conditions. If the request is approved according to those terms, then Hyra Space--not the host--will send the guest a payment request