Waives Security Deposit! | Corporate Stays: Beyond Business
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Today we are happy to announce a second brand new policy update for our company: is waiving the security deposit for corporate accounts and regular guests in all Canadian locations! has always been interested in staying on the leading edge of the industry. Our CEO, Vladimir de Suàrez, dares to think differently when it comes to standard practices. That is why these changes are so interesting, they are industry firsts, no one else is operating this way.

Check out the first update here.

Why we changed our policy:

When first started out our practice was to take the amount of one month rent as the security deposit, an amount we eventually standardized to $1000 for each stay. Over time we found the security deposit to be an inconvenience to both our clients and to us. We were losing a lot of time tracking refunds and negotiating over small amounts of the deposit whenever there were damages to the units.

Today we are announcing a major change in our policy. We feel that our guests should not be required to pay for small damages that happen with everyday wear and tear. We feel that having to negotiate over small incidences with our guests will end up costing us much more than simply replacing any damaged articles and assuming the cost of replacement. Accidents happen to the best of us!

Getting rid of the security deposit is a direct result of having trust in our clients, a trust that has been proven and reciprocated time and again.

What we changed:

Clients with a Canadian corporate account can now benefit from not being charged a security deposit with their rental. We are the only company in the industry doing this and we are very excited to be able to offer a more convenient booking process to our guests.

Our focus is on the customer, we are in the business of making our guests happy. We don’t want to waste anybody’s time arguing over recuperating a few bucks for small damages. Our organization allows us to replace these things easily and simply assume the costs.

What the new policy means for you

  • is no longer charging a security deposit, so you only have to pay the rent and not worry about covering the extra cost.

  • Only applies to club properties.
  • No more hassle paying the extra cost and waiting to get it back .

  • Enter into a relationship of trust with your corporate housing provider.

  • Added convenience for clients who have to leave the country after their stay, which might cause complications in receiving their deposit. (exchange rates, new credit cards, etc.)

  • No security deposit, no worries.

The change is a big step for, representing a new way of doing business in a relatively new industry, but CEO Vladimir de Suàrez is confident that this is the right idea:

“We’re taking a bit of a risk, but the risk is so small compared to the benefits that it brings to our clients. We trust are tenants and we want this trust to be reciprocated, so introducing this new policy is just the logical next step.”

Stay tuned for more groundbreaking innovations from introduced in our next two blog posts!