When requesting a payment from a traveller through Online Booking there is an additional field available to request a refundable damage deposit amount. A traveller can pay this amount when they pay for their booking at a date set by you. This amount is then refunded back. subject to your approval, 48 hours after the booking and within 7 days. To request this amount from the traveller for your next booking, ensure your refundable damage deposit terms are set up by following the below steps. 

1. Log into your Owner admin
2. Click My Account
3. Under Manage Listing, click on the Refundable damage deposits
4. Copy and paste or type in your refundable damage deposits terms into the free text field 

Here are some tips on setting up your refundable damage deposits 
  • Your refundable damage deposit terms and conditions should detail the rental rules for your property.
  • Clearly spell out your fines for broken and damaged items in your refundable damage deposit terms and conditions. 
  •  In addition to your refundable damage deposit terms and conditions, we encourage you to ask your guests to complete an inspection of the property upon arrival so that they can report anything broken or damaged on checking. That way, if damage is discovered after checkout that was not initially reported, you have more cause to believe that those guests were likely responsible.

Please note the following rules apply to charging a refundable damage deposit 
  • The due date for the refundable damage deposit cannot be later than 48 hours before the check in date;  
  • The refund date for the refundable damage deposit must be a minimum of 48 hours after the check out date, and a maximum of 7 days after check out; 
  • The collection and refund of the refundable damage deposit must be in accordance with the refundable damage deposit terms provided and agreed to by the guest; and 
  • If the guest cancels the booking for any reason prior to the stay, the refundable damage deposit will be automatically refunded in full.  
  • Following the stay, the  refundable damage deposit will be automatically refunded to the traveller on the refund date as per the date specified by you at the time of booking
 
GST and damage deposits

Stayz does not apply Goods & Services Tax (“GST”) on your damage deposit collection from travellers. Generally – a genuine ‘security deposit’ does not attract GST – Stayz has reflected this treatment on the collection of the damage deposit. 
Depending on your individual facts and circumstances, the forfeiture of a damage deposit may result in the forfeited amount being subject to GST.  
The Australian Taxation Office (ATO) has previously issued the following rulings on the issue: http://law.ato.gov.au/atolaw/view.htm?DocID=GST/GSTR20062/NAT/ATO/00001

If you are still unsure as to whether or not your damage deposit is liable for GST, please check with your financial/taxation advisor or the directly with the ATO. Stayz cannot provide individual advice on this issue.