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Does it have some luxury furnishings as well, that could be the reason for the high deposit.
But then anyone who can afford this kind of rent is not likely to be someone who trashes a home.
Fred Griffin Florida R...
Lisa Von Domek
Stevens Point, WI
I think we're talk Vacation?
Where are you inquiring Beverly Hills?
Fred Griffin Florida R...
Panama City, FL
Inna Ivchenko never done that. May be - should be lot higher than normal.
Checking other answers - thanks for good question.
Short term is usually the most dangerous for issues later
That is terribly high and have never heard of being that high. I hope it isn't a trend.
wow! 70k for security deposit is crazy - I don't keep that much $ hanging around in my checking account - Nice to know that there is a different world out there
wow that is alot. I am not sure what is correct.
It's probably what the short term rental market will bear, and the type of property. I've seen pretty hefty rents and security deposits on high-end ocean-front homes
On VRBO you pay your rental fees upfront plus a $500 security deposit and a $175 cleaning fee. You also pay short term rental taxes in some states.
I have mostly seen double the rent for a fully furnished short term rental, but it does vary as to the furnishings and location.
Inna - in California -- the maximum security deposit for a furnished rental is three months. Unsure if "short term" is defined differently.
Normally the security deposit would equal the risk, the more the value, the higher the higher the charge
The amounts are determined by the property manager.
I have not done vacation rentals.
Sounds like the owners have had a very BAD previous experience!
$70K? I will stay in a suite at the Ritz Carlton instead, thank you.
Just as much damage can occur in a short term rental as a long term one...
I'm not sure what the usual deposit is. I have a friend with a condo on the beach in Maui he rents out, I think the security deposit for a week is over $1k.
For long term rentals I usually charge a little over 1 month's rent, so I would assume something similar could be done. If furnished, maybe twice that.
Sorry, I cannot think about those #'s.
Here the law is 1 Month rent and you can take half of that for an additional Pet Deposit.
Security deposit Inna Ivchenko we require is equal to one month's rent which is allowable by Hawaii State law. We can also charge an additional full security deposit for pets. Our office does not allow pets and does not allow smoking of any kind.
Here it is equal to or double the rent.
I am wowed at the high prices but not surprised. One bad rental can cost you
It sounds high.
Try this link:
parked and reading
wow! 70,000 for a security deposit? on a vacation rental? WOW! Must be a pretty darn nice property...