Security Deposit for Rental Marketplace

It would be great to have a mandatory 'Refundable Security Deposit' parameter associated with each Rental product (even if the Lender sets the value to 0 value). This protects the Lender of goods from damage and late returns.

Some points to ensure that this utility is used properly and does not lead to fraud:

1. The Admin should be allowed to enable the 'Security Deposit' feature only when the Admin is the Merchant of Records, so that the Admin alone can control this amount & its disbursement.

2. There should be the ability of the Lender to clearly document the reason why any claims are being made against the Security Deposit (so when the rental is complete - there should be the functionality to close the order by stating 'Satisfactory Return' or uploading images and docs justifying need for compensation

3. Currently, the Security Deposit feature can be setup in a circuitous way as an add-on feature, and ensuring that only the 'Negotiate' option is enabled, but even with this, I am not entirely sure how disputes are resolved.

Please consider adding this feature, it is standard in many competition offerings for rentals.

Cheers!

Security Deposit for Rental Marketplace

Comments

Didn't find what you were looking for?