The security deposit is the magical money set aside to cover your rear should something go wrong. You decide how much this refundable deposit should be and collect that amount before allowing anyone to rent your RV.
The security deposit is intended to cover any ancillary charges such as mileage overages, generator overages, cleaning fees, interior damage etc. If the security deposit doesn’t cover the ancillary charges or damages, Outdoorsy can assist in bringing these to resolution.
If you don’t already have a number in mind, we recommend charging somewhere between $500 and $1500 for the deposit. A higher deposit offers more protection, but be cautious about driving customers away. Consider the value of your vehicle: If you have a Class A luxury RV, you may want to charge a higher deposit than if you have a pop-up trailer.
Tip: The data shows that renters prefer listings with security deposits between $500 and $1,000 over listings with higher-valued security deposits.
How does the security deposit work?
If your RV is returned and you need to dip into some or all of the deposit, be sure to claim that money within 7 days. You can manage this from your dashboard by selecting the reservation details and clicking “Collect Fees”.
If you don’t do anything, the deposit money gets automatically returned to your renter seven days after the return of the rental.
All claims against the security deposit are subject to a 2.95% processing fee. See below for additional information on managing the security deposit.
What does the security deposit cover?
The security deposit covers any damage caused by the renter or renter’s party which is not covered by the Outdoorsy insurance program.
This includes but is not limited to:
How do I manage the security deposit?
Above all, it’s important to be communicative and transparent with your renter so they know exactly what’s happening with their deposit. Here are your options:
All claims to a security deposit by the owner are subject to a 2.95% payment processing fee.
If there are variable add-ons costs or fees that need to be charged once your renter returns, follow the steps below:
What if I need to charge more than the security deposit covers?
This is one for the Outdoorsy support team. You’ll need documentation of all the additional charges, including the signed RV Return Form. Go to your Outdoorsy dashboard and select “Manage Security Deposit” on the specific booking to claim the full security deposit. Then reach out to Outdoorsy support via phone, chat, or email and let them know that you have additional charges that are over the security deposit.
Once they’ve determined the validity of the charges, they’ll charge the renter and the payment will post to your account.
How does the security deposit apply to the deductible?
We know that the difference between the security deposit and deductible can be confusing, and we are here to help. In the event of a covered damage claim, once all applicable fees are assessed, any remaining funds will be collected by Outdoorsy. The remainder will be applied toward the deductible based on the Protection Package the renter selected at the time of booking.
For example: If a booking carries a $500 security deposit and there is a $100 cleaning fee and a $150 mileage overage, $250 will be paid to the owner, and the remaining $250 will be collected by Outdoorsy. If the deductible for this booking was $1,500, this leaves a remaining balance of $1,250 (owed by the renter).
Please note: If the security deposit is released for any reason prior to the claim concluding, the renter will be responsible for the full deductible amount. The release of a security deposit does not represent the conclusion of an insurance claim investigation, and any ancillary charges or deductible charges may still be pursued.
Based on feedback from the Outdoorsy community, we recently updated the process for collecting additional fees and filing a claim.
Related article: How an RV owner can send you a customized quote