Inna Ivchenko, Realtor® • GRI • HAFA • PSC Calabasas CA (Barcode Properties)

Spam prevention
Ambassador
5,358,761
Bob Crane
Woodland Management Service / Woodland Real Estate, EXP - Stevens Point, WI
Forestland Experts! 715-204-9671

Does it have some luxury furnishings as well, that could be the reason for the high deposit.

But then anyone who can afford this kind of rent is not likely to be someone who trashes a home.

May 19, 2016 06:35 AM
Rainmaker
915,973
Jennifer Mackay
Counts Real Estate Group, Inc. - Panama City, FL
Your Bay County Florida Realtor 850.774.6582

I think we're talk Vacation?

Where are you inquiring Beverly Hills?

May 20, 2016 01:12 AM
Ambassador
4,312,753
Praful Thakkar
LAER Realty Partners - Andover, MA
Andover, MA: Andover Luxury Homes For Sale

Inna Ivchenko never done that. May be - should be lot higher than normal.

Checking other answers - thanks for good question.

May 19, 2016 02:36 PM
Rainmaker
3,985,837
William Feela
WHISPERING PINES REALTY - North Branch, MN
Realtor, Whispering Pines Realty 651-674-5999 No.

Short term is usually the most dangerous for issues later

May 19, 2016 02:28 PM
Ambassador
3,986,660
Debbie Reynolds, C21 Platinum Properties
Platinum Properties- (931)771-9070 - Clarksville, TN
The Dedicated Clarksville TN Realtor-(931)320-6730

That is terribly high and have never heard of being that high. I hope it isn't a trend.

May 19, 2016 02:14 PM
Rainmaker
1,987,978
Lise Howe
Keller Williams Capital Properties - Washington, DC
Assoc. Broker in DC, MD, VA and attorney in DC

wow!  70k for security deposit is crazy - I don't keep that much $ hanging around in my checking account  - Nice to know that there is a different world out there

 

May 19, 2016 11:31 AM
Rainmaker
3,971,013
Will Hamm
Hamm Homes - Aurora, CO
"Where There's a Will, There's a Way!"

wow that is alot.  I am not sure what is correct.

May 19, 2016 09:29 AM
Ambassador
4,558,329
Jeff Dowler, CRS
eXp Realty of California, Inc. - Carlsbad, CA
The Southern California Relocation Dude

It's probably what the short term rental market will bear, and the type of property. I've seen pretty hefty rents and security deposits on high-end ocean-front homes

May 19, 2016 08:38 AM
Rainmaker
1,707,423
Joe Pryor
The Virtual Real Estate Team - Oklahoma City, OK
REALTOR® - Oklahoma Investment Properties

On VRBO you pay your rental fees upfront plus a $500 security deposit and a $175 cleaning fee. You also pay short term rental taxes in some states.

May 19, 2016 06:39 AM
Rainmaker
795,232
Susan Laxson CRS
Premier Sotheby's International Realty - Naples, FL
The Michelle Thomas Team

I have mostly seen double the rent for a fully furnished short term rental, but it does vary as to the furnishings and location.

May 19, 2016 11:28 PM
Rainmaker
4,060,514
Michael Jacobs
Pasadena, CA
Los Angeles Pasadena 818.516.4393

Inna -  in California -- the maximum security deposit for a furnished rental is three months.  Unsure if "short term" is defined differently.  

May 19, 2016 11:04 PM
Rainmaker
3,321,571
Scott Godzyk
Godzyk Real Estate Services - Manchester, NH
One of the Manchester NH's area Leading Agents

Normally the security deposit would equal the risk, the more the value, the higher the higher the charge

May 19, 2016 10:49 PM
Rainmaker
6,545,029
Roy Kelley
Realty Group Referrals - Gaithersburg, MD

The amounts are determined by the property manager.

May 19, 2016 10:23 PM
Rainmaker
4,433,583
Gita Bantwal
RE/MAX Centre Realtors - Warwick, PA
REALTOR,ABR,CRS,SRES,GRI - Bucks County & Philadel

I have not done vacation rentals.

May 19, 2016 09:31 PM
Rainmaker
846,325
Marco Giancola
Beachfront Realty - Miami Beach, FL
Realtor (305)608-1922, Miami Beach Florida

Sounds like the owners have had a very BAD previous experience!

May 19, 2016 08:23 PM
Ambassador
2,564,131
Fred Griffin Florida Real Estate
Fred Griffin Real Estate - Tallahassee, FL
Licensed Florida Real Estate Broker

$70K?  I will stay in a suite at the Ritz Carlton instead, thank you.

          

May 19, 2016 12:51 PM
Rainmaker
2,707,268
Lisa Von Domek
Lisa Von Domek Team - Dallas, TX
....Experience Isn't Expensive.... It's Priceless!

Just as much damage can occur in a short term rental as a long term one...

May 19, 2016 11:54 AM
Rainmaker
1,380,623
Ryan Huggins - Thousand Oaks, CA
https://HugginsHomes.com - Thousand Oaks, CA
Residential Real Estate and Investment Properties

I'm not sure what the usual deposit is.  I have a friend with a condo on the beach in Maui he rents out, I think the security deposit for a week is over $1k.

For long term rentals I usually charge a little over 1 month's rent, so I would assume something similar could be done.  If furnished, maybe twice that.

May 19, 2016 08:17 AM
Rainmaker
1,716,354
Lyn Sims
RE/MAX Suburban - Schaumburg, IL
Schaumburg Real Estate

Sorry, I cannot think about those #'s.

May 19, 2016 07:57 AM
Ambassador
283,997
Scott Leaf Personal Real Estate Corporation
Keller Williams Elite Realty, Port Coquitlam, BC - Port Coquitlam, BC
Scott Leaf & Associates Real Estate Team

Here the law is 1 Month rent and you can take half of that for an additional Pet Deposit.

May 19, 2016 07:12 AM
Rainmaker
519,039
Bruce Hicks
Best Homes Hawaii - Honolulu, HI
Your Best Hawaii Realtor!

Security deposit Inna Ivchenko  we require is equal to one month's rent which is allowable by Hawaii State law.  We can also charge an additional full security deposit for pets.  Our office does not allow pets and does not allow smoking of any kind.

May 19, 2016 07:09 AM
Rainmaker
1,398,208
Raymond E. Camp
Ontario, NY
Licensed Real Estate Salesperson Greater Rochester

Here it is equal to or double the rent.

May 19, 2016 06:53 AM
Rainmaker
2,634,337
Richie Alan Naggar
people first...then business Ran Right Realty - Riverside, CA
agent & author

I am wowed at the high prices but not surprised. One bad rental can cost you

May 19, 2016 06:20 AM
Rainmaker
1,149,209
Sam Shueh
(408) 425-1601 - San Jose, CA
mba, cdpe, reopro, pe

It sounds high.

Try this link:

https://www.tripadvisor.com/ShowTopic-g187147-i14-k6250380-Booking_with_Airbub_make_full_payment_upfront-Paris_Ile_de_France.html

May 19, 2016 06:19 AM
Rainmaker
3,069,934
Tony and Suzanne Marriott, Associate Brokers
Serving the Greater Phoenix and Scottsdale Metropolitan Area - Scottsdale, AZ
Haven Express @ Keller Williams Arizona Realty

parked and reading

May 19, 2016 11:10 PM
Rainmaker
751,227
Debra Leisek
Bay Realty,Inc Homer Alaska - Homer, AK

wow! 70,000 for a security deposit? on a vacation rental? WOW! Must be a pretty darn nice property...

May 19, 2016 04:51 PM