6 Replies Latest reply: Apr 23, 2019 4:30 AM by rinaldomoon RSS

    Regarding Who Holds The Damage Deposit

    ashevillelookout Senior Contributor

      COPIED FROM ANOTHER THREAD:

       

      First off welcome to the community! Great question, as mentioned by others the refundable damage deposit is held in escrow by the payment processors until such time as it is claimed by the owner or the selected amount of time (7 or 14 days) has elapsed and it is automatically refunded to the traveler. When being refunded to the traveler the escrow account is then debited for the amount that is owed back to the traveler. I would also like to clarify that there is only a processing charge on the refundable deposit IF it is claimed by the owner. Keep the questions coming!

       

       

      Daniel

      HomeAway Community Moderator

       

       

       

      Excuse me.  The refundable damage deposit is held in escrow by the payment processors ….  SINCE WHEN?  When HomeAway started withholding the deposit from my payout, I understood that my damage deposit was being held by HOMEAWAY. 


      If it is indeed held by Yapstone, this is just another reason why I dislike this processor.  What right does Yapstone have to my damage deposit?  I never agreed to have my refundable damage deposit held by Yapstone.  I do not have a contract with Yapstone.  HomeAway does. Where in HomeAway's contract with Yapstone does it say that my damage deposit may be held by Yapstone?

       

      Your statement also does not address why securerealty had a chargeback wherein Yapstone took the damage deposit from the owner's bank account.  Yapstone took the rent payment AND the damage deposit from this owner.  The damage deposit had never been paid to the owner.  If Yapstone is holding these deposits "in escrow", then they certainly should know to draw the deposit from their own coffers.

       

      HomeAway, you have a problem. 

        • Re: Regarding Who Holds The Damage Deposit
          rinaldomoon Senior Contributor

          Why would an owner allow any second (third?) party to have anything to do with their damage deposit from the first place?

           

          That is why I won't use Airbnb and if HomeAway moves in that direction that would be a deal breaker for me!

          • Re: Regarding Who Holds The Damage Deposit
            ha-moderator-daniel HomeAway Employee

            Hi ashevillelookout,

             

            Refundable damage deposits have been held in escrow by the payment processor since the inception of the Automatic Refundable Damage Deposit program. So, if Yapstone is your payment provider then Yaptone holds that deposit until it is either claimed or refunded. The same would be the case for owners with Payoneer and HomeAway as their payments provider. In the case of a chargeback, the process would be to that they would debit the account in which the funds currently reside. If there was an error in that process then the payment provider would need to work with the account holder to fix that error.  If you would like to review the terms and conditions of the HomeAway Payments program they are available here.

            Daniel

            HomeAway Community Moderator

            • Re: Regarding Who Holds The Damage Deposit
              rinaldomoon Senior Contributor

              It will always be the owner's fault for not reading HomeAway's terms and conditions on a daily basis


              Don't we all do that before starting our not busy lives? (sarcasm intended)