Damage Deposit
What is a Damage Deposit?
We collect a fully refundable security deposit before each stay without exception. We have created this page to help you understand more about why we collect this and how to process/refund works.
Why do we collect the deposit?
A lot of time, passion and investment goes into ensuring we provide our guests with amazing and reliable places to stay. The vast majority of our guests are absolutely amazing and appreciate this. Sadly however, there will always be those who have no intention of respecting our properties, our rules or our neighbours.
Therefore we collect a Security Deposit to ensure that the property is protected and that house rules are adhered to. Here are some example circumstances where some (or all) of the deposit shall be permanently retained by Truestays:
- Damage caused to the property
- Damage caused to items in the property
- Replacements for items going missing
- Security call outs & removal costs
- Not checking out on time
- Call out fees
- Damage caused to items in the property
- Replacements for items going missing
- Security call outs & removal costs
- Not checking out on time
You can learn more about our security deposit by reading our full terms & conditions.
How does the deposit work?
We use one of the World’s most secure payment systems, Stripe, to authorise and hold the Security Deposits. Here is how it works:
- Guest enters card details when requested. Please note we cannot accept a cash deposit.
- Stripe will securely hold these details and will attempt to “Authorise” the payment 24 hours before check-in. While it may appear on the Guest’s bank account that the funds have left your account, at no point does this happen. Stripe essentially places a temporary block on these funds, which ensures that there is enough money allocated to the Security Deposit, should we need to charge for the Guest.
- After the Guest has checked out, our team will conduct an inspection of the property within 24 hours. Once we have been given the all clear, we will cancel the authorisation and the Guest’s funds will appear as available in your account again.
When do we return the deposit?
Once the cleaning team have confirmed all is well with the property, and assuming no rules were broken, the authorisation to capture the funds will automatically be cancelled. This will usually result in the funds showing as available in your account within a couple of days. However, depending on your bank, this can take up to 10 days.
Please note, you might not see the funds “re-enter” your account. For most it will cancel the original “transaction” and will simply appear as though the transaction did not happen at all.
After 10 days, if you haven’t seen the funds “re-enter” your account as a line on your statement, please check whether the original has disappeared. If it has not, then please reach out to our team and we will investigate.
