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New secdep reserved before old one expired

Replies: 3 - Pages: 1 - Last Reply: Mar 11, 2021 1:54 PM by: Valerie R
BlueMtnCabins
Registered: 6/6/16
New secdep reserved before old one expired

I have a following situation. Guest staying 6 nights. The original secdep that was reserved 2 days prior to arrival was supposed to expire and new one reserved (refreshed). well enter sent me a screen shot where it shows TWO "pending" auths for the amount of sec dep. This happened more tan once, renter not happy, is there a way not to "refresh" the sec dep is old one is still pending?

Ken T
Registered: 8/7/19
Re: New secdep reserved before old one expired

Unfortunately, this is normal, because we don't know or control when security deposit holds will be expired by the issuing bank. They notify us that they are *going* to expire it, but we don't know if they do that immediately, in a few hours, or the next day.

https://www.ownerreservations.com/support/articles/security-deposit-holds#multiple-holds

Valerie R
Registered: 9/26/19
Re: New secdep reserved before old one expired

I had a guest contact me for the same reason. I created this response to explain why that happened and share it here in case others might want to use it:

========================================

Thanks for your message, I am sorry for any confusion.

When we put a hold on a guest's credit/debit card for the security deposit we have no idea how their particular bank will handle the hold. Every bank has a different process.

So what typically happens is the hold is placed one day before the guest arrives and could be valid for a couple to several days. When it is ready to expire (per the bank's process) if the "release date" (7 days after the guest departs) has not been reached a new hold is requested. This could happen several times, depending on the duration of the booking and the number of days the bank hold is valid.

If nothing else has occurred (like a charge against the hold for damage, for example) then the hold is automatically released on the specified date. 

We set the hold to be released 7 days after the guest departs because it could take the housekeeper several days before she can get to the property to clean it. We need to make sure we leave enough time for her to determine if there are any damages so that we can file the damage claim before the hold expires.

I have triggered the hold to be released today. Your particular bank's process will determine when the funds will be released in your account.

I hope this helps!

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