NYC people
Thread Starter
Senior Member
Joined: Jun 2004
Posts: 30,331
Likes: 0
From: Montréal, Canada
if it's 750 for 3 nights . . . then half deposit is 375 . .. meaning you pay the remaining balance of 375 on check in . . . not 750. learn math frenchie 
and lot's of places that have high booking numbers will require a down-payment to make sure they aren't scammed. And at that price if it is legit, then he has no reason to accommodate you. people will be lining up to rent that . . . a group of five guys hitting the city for a week that's cheappppp when you split it up
and lot's of places that have high booking numbers will require a down-payment to make sure they aren't scammed. And at that price if it is legit, then he has no reason to accommodate you. people will be lining up to rent that . . . a group of five guys hitting the city for a week that's cheappppp when you split it up
CBOTY 2010
Joined: Nov 2004
Posts: 34,786
Likes: 0
From: MI
No I'm just saying you come off sounding like the dick. I said IF it's a legitimate deal and not a scam, because at that price it just screams scam, then I totally understand him demanding half up front plus the deposit.
This isn't a standard hotel, at least it doesn't sound like it. The majority of the time when you get involved with 'vacation' properties they require a deposit up front. It's pretty common practice. It protects both parties.
This isn't a standard hotel, at least it doesn't sound like it. The majority of the time when you get involved with 'vacation' properties they require a deposit up front. It's pretty common practice. It protects both parties.
Thread Starter
Senior Member
Joined: Jun 2004
Posts: 30,331
Likes: 0
From: Montréal, Canada
No I'm just saying you come off sounding like the dick. I said IF it's a legitimate deal and not a scam, because at that price it just screams scam, then I totally understand him demanding half up front plus the deposit.
This isn't a standard hotel, at least it doesn't sound like it. The majority of the time when you get involved with 'vacation' properties they require a deposit up front. It's pretty common practice. It protects both parties.
This isn't a standard hotel, at least it doesn't sound like it. The majority of the time when you get involved with 'vacation' properties they require a deposit up front. It's pretty common practice. It protects both parties.
Joined: Jun 2001
Posts: 58,579
Likes: 0
From: Lll
Dude...deposits are pretty standard. I rent a house every year for my staff retreats. I do this privately and also through a broker. I usually pay a $500 deposit that is returned if I leave the house the way I found. If you are feeling sketchy, dont do it. But it is pretty standard practice. Get everything in writing
__________________
.
.
CBOTY 2010
Joined: Nov 2004
Posts: 34,786
Likes: 0
From: MI
Guess you haven't dealt with Americans that much then o:
http://www.homeaway.com/info/ownerco...ment-schedules
that's a standard practice for vacation rentals. . . i worked for a property management company when i was in high school and that's about standard right there for the houses we rented on the lake in the summer. In some cases we would do a hefty deposit and balance upon arrival, if they worked it out with us in advance that way. And we ALWAYS had a security deposit or a hold on a CC
considering you are asking for a place in the next 3 weeks that greatly increases the amounts for deposit and payments.
That said, if it's too good to be true it probably isn't real. I agree that it's probably some kind of scam. Least you could have done is look over their documents to verify. I think you merely jumped the gun a little early on the guy. Could have at least offered a 20% deposit. And asked to pay the security deposit upon arrival as well.
http://www.homeaway.com/info/ownerco...ment-schedules
Reservation Deposit
Regardless of how far in advance the renter decides to book, you should require a deposit and signed rental agreement in order to confirm the booking. Whether this is a security deposit or a reservation deposit, you should not mark you calendar as booked until you have received this payment. If you accept credit cards, you might require this deposit within 24 hours or the renter will lose their reservation. (It's also polite to give a little wiggle room for bookings made on Fridays if the renter can't fax back your rental agreement until the following Monday.)
If you accept checks, you can require the deposit within three to five business days of the booking, and until you receive and cash the deposit, continue to accept inquiries for those same dates. In that case, it's perfectly legitimate and responsible to tell other potential renters that there is a pending booking, but request their contact information in case there is an opening.
First Installment Payment
Typically you should break the remaining payment of the total rental rate (plus sales tax and cleaning fee) into at least two equal installments. You should receive the first payment about 60 days prior to the renters scheduled date of arrival. This will give you ample time to get another renter in the event of lack of payment or cancellation. Keep in mind, though, if it is a last-minute reservation, you should ask for full payment upon booking.
Final Balance
The final balance should be paid 14 to 30 days prior to the rental date. This provides plenty of time for funds to clear before you send directions, keys, or lockbox codes. Remember, the more time you give yourself, the more flexibility you have with payments. With enough time, you could even split the transaction into multiple payments, which might be preferable for some of your guests who are trying to stick to a budget. If you are flexible with your payment schedule, be sure to advertise this in your listings.
Regardless of how far in advance the renter decides to book, you should require a deposit and signed rental agreement in order to confirm the booking. Whether this is a security deposit or a reservation deposit, you should not mark you calendar as booked until you have received this payment. If you accept credit cards, you might require this deposit within 24 hours or the renter will lose their reservation. (It's also polite to give a little wiggle room for bookings made on Fridays if the renter can't fax back your rental agreement until the following Monday.)
If you accept checks, you can require the deposit within three to five business days of the booking, and until you receive and cash the deposit, continue to accept inquiries for those same dates. In that case, it's perfectly legitimate and responsible to tell other potential renters that there is a pending booking, but request their contact information in case there is an opening.
First Installment Payment
Typically you should break the remaining payment of the total rental rate (plus sales tax and cleaning fee) into at least two equal installments. You should receive the first payment about 60 days prior to the renters scheduled date of arrival. This will give you ample time to get another renter in the event of lack of payment or cancellation. Keep in mind, though, if it is a last-minute reservation, you should ask for full payment upon booking.
Final Balance
The final balance should be paid 14 to 30 days prior to the rental date. This provides plenty of time for funds to clear before you send directions, keys, or lockbox codes. Remember, the more time you give yourself, the more flexibility you have with payments. With enough time, you could even split the transaction into multiple payments, which might be preferable for some of your guests who are trying to stick to a budget. If you are flexible with your payment schedule, be sure to advertise this in your listings.
considering you are asking for a place in the next 3 weeks that greatly increases the amounts for deposit and payments.
That said, if it's too good to be true it probably isn't real. I agree that it's probably some kind of scam. Least you could have done is look over their documents to verify. I think you merely jumped the gun a little early on the guy. Could have at least offered a 20% deposit. And asked to pay the security deposit upon arrival as well.
Last edited by shirley; Oct 25, 2010 at 01:04 PM.
