Damage Protection Plan/Security Deposit
SECURITY DEPOSIT: Broker shall collect, and hold the security deposit in a non-interest bearing escrow account. Owner shall be responsible for having the property inspected immediately upon Guest check-out and prior to any new Guest's possession. In the event Owner determines a partial or full withholding of the security deposit shall occur due to, but not limited to, damage, lease violations and/or additional cleaning required, Owner shall deliver written notice, including an itemized statement of deductions, to Broker within seven (7) days after the rental agreement termination date. Broker shall release security deposit fourteen (14) days after Rental Agreement check-out termination date, unless receiving written notice as stated above. Written notice of a security deposit withdrawal will be made to Guest within thirty (30) days of the rental termination date. Credit cards may NOT be used to pay for security deposits. Security deposits must be received at least forty-five (45) days prior to arrival in the form of a personal check, money order, cashier's check, cash or wire transfer. Owner and Guest, jointly, severally and in the alternative, agree to indemnify, defend and hold Broker harmless from and against any loss, cost and expense arising out of or related to any action taken or thing done by Broker in connection with funds held by Broker or any failure by Broker to take any required action with respect to said funds; provided, however, that any action or failure to act shall have been taken or omitted in good faith, and not as a result of the willful misconduct of Broker or its Agents.