usvi-on-line
Security/ damage deposit advice
I concur with Flip Flops account of deposits. I also like the $35 insurance policy-- just makes more sense. And for the record we have never broken anything and treat these places like they are our own home.
It used to be 30 days before final deposit was due, now it's 60 days for several co's. Last December they wanted our damage deposit 14 days in advance and they cashed that check.
Now they want the damage deposit along with the regular deposit as well?
Don't forget they are collecting interest on this money while it's sitting in their account and not yours. And not just in advance but in the case of the damage deposit they hold the $$$ for 30 days after as well.
Honestly I think this is their creative way of keeping more cash in their pockets. While the interest on $500 or $1000 over 6 months doesn't sound like a lot, multiply that by the number of houses in their portfolio's and the number of weeks in a year. All of a sudden that little bit of cash can add up to tens of thousands of dollars in profit that doesn't cost them anything. This is nothing new, that's how banks make their money - on interest and fees.
Essentially it's no different than what the airlines are doing by nickel and diming customers and thinking they won't notice or know the difference.
Hoenstly, if they want that $$$ so far in advance then they can put it in escrow and pay me the money back with interest -- then I don't have a problem with that. But I'm betting they won't.
Seriously, times are going to get tougher. I can't help but wonder-- as management co's and owners feel more of a financial pinch -- that they won't be finding every excuse to KEEP those damage deposits.
Just my .02
It used to be 30 days before final deposit was due, now it's 60 days for several co's. Last December they wanted our damage deposit 14 days in advance and they cashed that check.
Now they want the damage deposit along with the regular deposit as well?
Don't forget they are collecting interest on this money while it's sitting in their account and not yours. And not just in advance but in the case of the damage deposit they hold the $$$ for 30 days after as well.
Honestly I think this is their creative way of keeping more cash in their pockets. While the interest on $500 or $1000 over 6 months doesn't sound like a lot, multiply that by the number of houses in their portfolio's and the number of weeks in a year. All of a sudden that little bit of cash can add up to tens of thousands of dollars in profit that doesn't cost them anything. This is nothing new, that's how banks make their money - on interest and fees.
Essentially it's no different than what the airlines are doing by nickel and diming customers and thinking they won't notice or know the difference.
Hoenstly, if they want that $$$ so far in advance then they can put it in escrow and pay me the money back with interest -- then I don't have a problem with that. But I'm betting they won't.
Seriously, times are going to get tougher. I can't help but wonder-- as management co's and owners feel more of a financial pinch -- that they won't be finding every excuse to KEEP those damage deposits.
Just my .02
*Another fine scatterbrained production
I have NEVER had a company cash a deposit check. For me, if that was the agency's policy I would find another agency.
I like that both VIVA and Windspree are doing the $35 deposit thing to cover damage insurance. (Though I vaguely remember a post from someone a while back saying they paid for damage insurance and were still billed for damage to the villa. Not sure of the co or the circumstances, I am just putting it out there.)
I know that Destination St. John varies on their damage deposit based on the owners - some will accept a CC number others want a check (from $500-$1000) in hand depending on the house, but they did not cash it.
If they cash it, do they then send you a check from them 30 days AFTER the fact? That seems nuts.
Flip-flop is not down w/ cashing a check for potential damages that she has not (and in all likelihood will not) do to a property.
I like that both VIVA and Windspree are doing the $35 deposit thing to cover damage insurance. (Though I vaguely remember a post from someone a while back saying they paid for damage insurance and were still billed for damage to the villa. Not sure of the co or the circumstances, I am just putting it out there.)
I know that Destination St. John varies on their damage deposit based on the owners - some will accept a CC number others want a check (from $500-$1000) in hand depending on the house, but they did not cash it.
If they cash it, do they then send you a check from them 30 days AFTER the fact? That seems nuts.
Flip-flop is not down w/ cashing a check for potential damages that she has not (and in all likelihood will not) do to a property.
Flip Flop, that was me!!
Everyone, I am the person who Flip Flop is referring to. We gave $35.00 non refundable security deposit to Carefree Getaways. My friend accidentally knocked over a bedroom lamp. They came after us for an additional $145 to cover the cost of the lamp. They put our $35 towards it but we had to make up the difference. We thought it was an insurance policy similar to Catered To or Viva. So be sure you understand the management company's policy before you rent from them. 
I was wondering about that...I can see how that could be a problem.waterguy wrote:I know of some owners that got stiffed because there was damage when they tried to cash the check the renters had stopped payment on it that might be why they are doing it now.
It's like looking in your soup and finding a whole different alphabet.
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TideDrifter
- Posts: 7
- Joined: Thu Jun 26, 2008 8:57 am
- Location: South Carolina
bachelor party on St John? Anyone?
flip-flop... if you follow the link in my previous post above to the Viva! villas' policy page you will see that they charge the non-refundable $35 damage insurance fee PLUS they collect up to a $1000 refundable damage deposit for some houses. For some houses they only collect the $35 insurance charge, for other house they collect only a damage deposit, and for other houses they collect both. In every case they collect 50% at the time you make the reservation. I would have to imagine that they only collect both the insurance fee and the security deposit for the houses which contain really nice furnishings and linins and etc.
Who have you used that just held a check for the security deposit and then returned it to you after your rental? This seems like the perfect villa for a bachelor party to me.
Who have you used that just held a check for the security deposit and then returned it to you after your rental? This seems like the perfect villa for a bachelor party to me.
Re: bachelor party on St John? Anyone?
Destination St. John. All others I have used (and once DSJ as well) took a credit card number and put a hold on $X amount. I still would be VERY unhappy doing anything that caused the agent to have a grand of MY money in the bank for damage I will most likely never cause.TideDrifter wrote: Who have you used that just held a check for the security deposit and then returned it to you after your rental? This seems like the perfect villa for a bachelor party to me.
I double checked my Viva contact and it says the following:
"We require a $35 non-refundable Security Deposit Waiver fee for all reservations. The fee is in lieu of a damage deposit and is an insurance fee to cover accidental villa damage or loss up to $500."
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TideDrifter
- Posts: 7
- Joined: Thu Jun 26, 2008 8:57 am
- Location: South Carolina
why so bitter?
I cannot imagine anything less reassuring than a management company telling us one thing, and having a written, published policy on their website that states something completely different. I don’t think that I will be renting from Viva! Villas any time soon. I must presume that the Viva! agent you spoke to was referring to the particular house that you have rented. Their written policy clearly states that for their select villas a $35 fee will be charged plus a $250 - $1000 dollar refundable security deposit must also be paid:
www.vivacations.com/Agree.aspx
BTW … Gromit, the website of the villa we rented states plain and clear: “110% of all the interest earned on the guest security deposit escrow account will be donated to the nonprofit Friends of the Virgin Islands National Park.”
www.caneeltrailside.com/rates.html
Why so bitter?
www.vivacations.com/Agree.aspx
BTW … Gromit, the website of the villa we rented states plain and clear: “110% of all the interest earned on the guest security deposit escrow account will be donated to the nonprofit Friends of the Virgin Islands National Park.”
www.caneeltrailside.com/rates.html
Why so bitter?
Since I'm the original poster, I'll finish my saga.
The owner finally did agree to letting us pay the entire damage deposit at 60 days, but he would cash the check and stated that a renter could put a stop payment on the check, leaving him with no recourse.
During all the dialog between myself and the villa owner, the villa owner received a reservation request for some of the same dates we had held. I was very clear about my commitment to rent, but the owner accepted the other reservation stating that somehow he felt I was still not in agreement with his terms of rental. Pretty poor on his part since we HAD reached an agreement on the terms of rental.
That all said, this probably turned out for the best. We ended up renting Miles Away from DSJ. DSJ couldn't be easier to rent from. Yes, they also want a damage deposit check (at 60 days) but if past experience we've had with them repeats, they won't cash it.
Even if clearly stated in their policies, I don't think I'd ever rent a villa where 50% of the damage deposit is required and cashed at the initial booking since this is often 6-12 months out. Absolutely no reason to require, and cash it that far in advance. Not right in my opinion.
The owner finally did agree to letting us pay the entire damage deposit at 60 days, but he would cash the check and stated that a renter could put a stop payment on the check, leaving him with no recourse.
During all the dialog between myself and the villa owner, the villa owner received a reservation request for some of the same dates we had held. I was very clear about my commitment to rent, but the owner accepted the other reservation stating that somehow he felt I was still not in agreement with his terms of rental. Pretty poor on his part since we HAD reached an agreement on the terms of rental.
That all said, this probably turned out for the best. We ended up renting Miles Away from DSJ. DSJ couldn't be easier to rent from. Yes, they also want a damage deposit check (at 60 days) but if past experience we've had with them repeats, they won't cash it.
Even if clearly stated in their policies, I don't think I'd ever rent a villa where 50% of the damage deposit is required and cashed at the initial booking since this is often 6-12 months out. Absolutely no reason to require, and cash it that far in advance. Not right in my opinion.
Re: why so bitter?
I am not sure where what is on their website is "completely different" from what they told you. The written policy refers to most houses and it seems the house you are renting is one that falls into the "some select villas" part. There policy seems pretty clear to me. Is the issue that they didn't tell you that the house you were renting required an extra deposit at the time of booking?TideDrifter wrote:I cannot imagine anything less reassuring than a management company telling us one thing, and having a written, published policy on their website that states something completely different.
My experience with Viva has been entirely consistent with what I was told and is consistent with the contract I signed and sent back (which was far more detailed than most in coverage of the details).
Obviously, I can't speak for your situation but I can say that Sherrolyn has been extremely patient and helpful as we tried to decide on a house and even bent over backwards to help us out regarding a particular issue we were concerned about.
I am sure the "few select villas" are the very high end ones and I can't say they are unjustified in doing so. The villa we rented is not high end. We paid the $35 waiver and that's that.
I have rented from Caribbean Villas, Destination St. John, Windspree and Viva and I will say there is only one that I will not rent from again and I think most people who follow the forum know which one that is without me saying so. I, personally, had 2 bad experiences and choose to move on. I also accept that others find the house they want at the price they want through that co and that's fine by me.
Wow, this didn't turn out how I thought it would. I can't believe he rented the house out from under you. But, you know what? I am guessing he wasn't someone you wanted to do business with anyhow.
As far as someone donating the interest off the deposit to the Friends of the VI National Park, that is nice and all but it still seems a little like stealing my money when they didn't need to. I guess I'm supposed to feel more warm and fuzzy because it went to charity...
We used to rent on the Outer Banks many years ago. The policy could've changed now, but when we booked, you sent a $500 deposit to hold your reservation, and it was cashed. Thirty days out, you paid the entire cost of your rental. After you left, you got your $500 back. If landlords are really worried about getting screwed on their deposits, then perhaps they should do something like that rather than require 1/2 as a reservation deposit and half the damage deposit up to a year in advance.
And, honestly, there's always the off chance that someone will damage your home and stiff you on your payment. But chances are people like that do a lot more than $500 in damage. Or require the damage deposit with final payment or at check in and cash it. But asking for it 6-9 months out just seems really excessive to me, even if they do donate the interest to charity.
As far as someone donating the interest off the deposit to the Friends of the VI National Park, that is nice and all but it still seems a little like stealing my money when they didn't need to. I guess I'm supposed to feel more warm and fuzzy because it went to charity...
We used to rent on the Outer Banks many years ago. The policy could've changed now, but when we booked, you sent a $500 deposit to hold your reservation, and it was cashed. Thirty days out, you paid the entire cost of your rental. After you left, you got your $500 back. If landlords are really worried about getting screwed on their deposits, then perhaps they should do something like that rather than require 1/2 as a reservation deposit and half the damage deposit up to a year in advance.
And, honestly, there's always the off chance that someone will damage your home and stiff you on your payment. But chances are people like that do a lot more than $500 in damage. Or require the damage deposit with final payment or at check in and cash it. But asking for it 6-9 months out just seems really excessive to me, even if they do donate the interest to charity.
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California Girl
Re: why so bitter?
I wonder what would happen if you asked to see a statement of their contributions to the VINP?TideDrifter wrote:the website of the villa we rented states plain and clear: “110% of all the interest earned on the guest security deposit escrow account will be donated to the nonprofit Friends of the Virgin Islands National Park.”
Last bumped by Anonymous on Fri Aug 18, 2023 12:25 am.