What is the deposit?
The deposit is an optional security precaution that members can use while organizing an exchange.
As soon as a home is added on GuesttoGuest, a deposit amount is recommended by the site and takes into account the size and different amenities of the home. As it is only a suggestion this amount can be modified in your home's listing, in the box on the right.
To modify the deposit for a specific exchange:
- Open the messages that you have been exchanging with the guest
- To the right of your conversation you will find the box with your exchange details. -Click on the pencil icon that appears in red to the right of the deposit.
The steps for the deposit are as follows:
- The host, in his listing, sets the deposit he requires
- After the host pre-appoves the exchange, the guest pays a commission for the deposit (3,5%). The commission is debited from the guest and he agrees to pay the deposit 30 days after the end of his stay if the host has decided not to give it back.
- At the end of the stay, the host has 10 days to report and justify to GuestToGuest the reason why he wants to keep the whole or part of the deposit. GuestToGuest then warns the guest. It is always better that the host and the guest discuss before GuestToGuest intervenes. After 10 days, the deposit obligation is cancelled.
- In cases where the host pointed out to GuestToGuest his desire to keep whole or part of the deposit, the guest then has 10 days to give his consent or to notify GuestToGuest his disagreement. If the host and guest agree on the amount, the deposit is then charged and the amount selected is paid through bank transfer to the host. The remaining amount is given back to the guest.
- If the host and the guest are unable to agree on an amount within 30 days of the end of the stay, the deposit is charged.
- The deposit is then moved to a special account. GuestToGuest guards the deposit until a decision is made whether judicial or negotiated.
The functioning of the deposit is as follows:
During a finalization, the guest pays 3,5% of commission on the deposit and gives GuesttoGuest permission to charge the amount equal to the sum of the deposit.
In a case where there is a deposit of 500 euros, the guest pays 17,5 euros immediately (3,5% commission of 500 euros).
As a host accepts the request of his guest, GuesttoGuest charges the 3.5% commission (17,5 euros) of the deposit as payment for services as a trusted third party and for the management of payment solutions.
However, the 500 euros will not be charged when you finalize the exchange. In theory they will never be charged because, on the day of your departure, we will contact your host to have their permission to cancel the deposit. However you agree to pay the deposit if necessary.
What happens in the event of damages or disagreements?
At the end of the exchange GuesttoGuest asks the host if they give their permission to release the deposit and confirm that there are no charges to retrieve from the guest's account.
If the host does not agree, the host and guest must come to an agreement regarding the deposit and the amount that must be charged.
The host has up to 10 days to claim the deposit and give their reason for the request. Please note that it is necessary for the damages to be justified and proven by the host in order for the deposit to be charged.
In case of any issues, we advise that the host contacts their guest to discuss the situation prior to contacting GuesttoGuest. Once the claim has been registered, GuesttoGuest will inform the guest and act as a trusted third party by providing a framework for negotiations in case there are any issues.
Once they have been informed of the situation, the guest has 10 days to give their consent or voice their disagreement. If the guest and the host come to an agreement, the agreed-upon sum is taken from the guest's bank account and transferred to the host's bank account. The rest of the deposit, which was never credited by GuesttoGuest, is returned to the guest. More precisely, GuesttoGuest releases the deposit.
The guest is informed of the host's claim to the deposit and gives their approval. The guest and the host must find an agreement. If an agreement cannot be found in 30 days after the end of the exchange, the deposit will be credited and transferred to a specific account to wait until a decision can be negotiated or judicial action taken.
Using a home's deposit: a few examples
I am organizing an exchange in France with Pierre. His apartment requires a deposit of 500 euros. I finalize the exchange and input my bank information while agreeing to be credited for the deposit in the case of damages. I pay 17,5 euros for the 3,5% of commission.
The exchange went well
Example 1: my exchange went well and Pierre was also satisfied. GuesttoGuest releases the deposit from my bank account. My account will never be credited the 500€.
An item is broken during the exchange
Example 2: I accidentally break a table. Pierre informs GuesttoGuest and gives proof of the damage, and tells me that 100 euros are needed to repair the table. I accept this sum. GuesttoGuest credits this amount from my account and releases the rest that I already had on my account.
An item is broken during the exchange and we disagree on the price
Example 3: I accidentally break a table. Pierre informs GuesttoGuest and gives proof of the damage, and tells me that 100 euros are needed to repair the table.
I do not agree on this price. I have 30 days after the end of the exchange to come to an agreement with Pierre. If we cannot find an agreement, GuesttoGuest credits the 500 euros and transfers it to a special account until an agreement is reached.
An item is broken and replaced with host's approval during the exchange
Example 4: I break a glass. I inform Pierre and ask him if I can simply replace the glass myself. Pierre agrees with this. When I ask Pierre what he thought of our exchange he says he is satisfied with how it took place and GuesttoGuest releases the deposit.
In case of housekeeping or items that must be cleaned
Example 5: While we are organizing the exchange Pierre asks me to leave the house clean and wash the laundry since he is providing me with linens and towels. I am not able to do it. I discuss it with Pierre who asks that I pay him 25 euros. I accept to pay. This amount is taken from my deposit. GuesttoGuest releases the rest of the deposit.
Note: It is important that the guest discusses with the host about every detail of the exchange!
In any case, do not hesitate to contact our team if you have any doubts or questions. We would be delighted to help you.
* By email: email@example.com
* By telephone : +44 (0)20-3808-3809 (UTC+00:00) (from Monday to Friday from 10am to 6pm).