An in-depth look at Booking's deposit management system
When it comes to ensuring the protection of your property as a guest on the Booking platform, the implementation of precautionary measures such as deposits plays a vital role. Although Booking doesn't levy a bond directly, there are sophisticated and effective methods for setting up this protection mechanism. In this article, we'll take a closer look at the ins and outs of managing bonds on Booking, while highlighting the key options and steps to follow.
Booking's Different Approach
Like its counterpart Airbnb, Booking does not automatically charge deposits. What sets it apart, however, is the latitude it offers hosts in setting up this protective measure. In practical terms, this means that the responsibility for managing deposits rests with hosts, paving the way for greater personalization of this process.
Practical implementation mechanisms
Setting up a deposit via Booking requires an ingenious approach. For this purpose, it is highly recommended to use a deposit software such as SWIKLY, Stripe... Once the reservation has been made on Booking, this manager goes into action, requesting the traveler to pay the deposit. It is important to note that this process does not involve any immediate debit; on the contrary, it relies on a simple imprint of the customer's bank card.
Crucial points to communicate to Booking
Transparent and accurate communication with Booking is an essential part of this process. First of all, it's vital to specify on your listing how the deposit will be handled for travelers. It's important to note that Booking operates on the assumption that deposits are generally paid in cash when travelers arrive. Therefore, it is imperative to clarify that the deposit procedure is via a credit card imprint. We strongly recommend that you pay the deposit by credit card only.
Process Optimization
It should be emphasized that cash deposits are not recommended for a number of reasons. Firstly, cash management is more complex, increasing the risk of disagreement and confusion. Secondly, this approach requires a physical presence at each check-in/check-out procedure, which can be cumbersome and inefficient. In this respect, Swikly's automated bonding via bank imprint is a more practical alternative.
The Amount of Bonds: An autonomous decision
A fundamental feature of Booking's deposit management is that the administration of this process is left entirely to the discretion of the guest. Booking does not interfere in the choice of the amount of the deposit, only indicates a maximum amount of €2,000. This autonomy allows hosts the freedom to decide on the appropriate amount according to the specificities of their property. It is crucial to note that the amount of the deposit must be carefully considered, taking into account the nature of the property as well as the facilities present. A general rule of thumb is that the better equipped the property, the more the bond should reflect the potential value of the damage, and guarantee adequate protection against possible losses.
