We’ll tell you a secret. Some facilities we know demand a $200 bond for a $20 booking. The staff time it takes to collect the bond, account for the bond and then pay back the bond and inform the customer completely negates the revenue earned from the booking. Madness!
But there is a better way to bond. The reason you take a bond is to mitigate the risk of damages or cleaning issues that may happen during the booking. Some bookings are naturally less risky than others e.g. a weekly knitting group vs a 21st birthday party.
Bonds for Low Risk Bookings
For low risk bookings, we have SpaceProtect post-event claims. As we have the customer’s payment details through. upfront payment, you can ask us to charge them for any damages that have actually happened within 72 hours of the event. This means you don’t have to ask for a large amount of cash upfront from a group that may not be able to afford it. All the communications and collection of these funds is fully automated. Requesting a post-event SpacetoCo claim is handled quickly in your bookings dashboard.
Bonds for High Risk Bookings
If you are presented with a more risky booking and it feels wise to take a bond upfront, you can also use SpaceProtect for a pre-event hold. Just tick the SpaceProtect box when you accept the booking and we’ll hold the amount you choose on the customer’s card until after the event. We do this a few days before the event, so that the customer is not without the cash for weeks on end. We also remove the hold 72 hours after the event unless we hear from you. With this process, there is no need for the request bond → secure bond → return bond process. The risk is managed quickly, communicated clearly and most importantly, you’re no longer taking and paying back money that in 99% of cases is never required.