We are about to book VRBO #253505 in Paris. They require a 700 euro security deposit. If we cancel two months ahead of time we get our deposti back BUT minus 3 days rent. Do you think that sounds like too much?

I think a 700 euro deposit is too much and I think 3 days rent 2 months before is too much too. Within 30 days I'd understand better. There are so many apartments available in Paris I'd look for something else.

In general I think the policies for these large security deposits, or any deposit at all, are presumptuous. Hotels don't feel the need so why do apartments. It's a rhetorical question, I do know what the arguments are for a deposit. I still resist.

We've paid a 50% deposit which is non-refundable if the apartment cannot be re-rented for our dates. If the apartment is rented the whole deposit and payment, if applicable, is refunded. I don't know what percentage the 700 euro is of your cost, the length of your rental, or the cost of 3 nights.

You should consider taking out travel insurance to cover any change of plans. If I liked the apartment, I would do that.

Hotels don;t ask for a deposit because they have your credit card. If after you check out they find you have done a lot of damage to the room they will definitely charge you for it on the card.

An apartment owner can't do that. they also don;t have the same options to rent many rooms on a night by night basis as a hotel does.

I don;t think they are being unreasonable.

But, if you do - choose another apartment.

It's solely your decision, if you think it's too much, that's your choice. I don't think it's too much, that is only 500 euro and less than a week's rent, not unusual at all.

And I don't think payment of 3 days penalty for cancellation is that unusual for a private apartment rental. Lots of hotels in popular vacation areas (eg Provence) have very stiff cancellation policies for long periods in advance because that is their main period, for example. Many places take a portion of your deposit no matter when you cancel, also. it isn't the same thing as cancelling a hotel.

Why are you so worried about cancelling, if you think you will, then don't book it.

"that is only 500 euro"

Only? That's a $650 guaranteed spend on the apartment if you have to pull out. And travel insurance, if you get it, may not cover (coverages are very narrow).

Just choose another apartment. If you're going in the summer, that sum is outrageous if you can cancel 60+ days out. If you pay 100-150E per night, you lose 40-60% of your deposit if you cancel. Two months is enough time to re-rent without gouging you for pulling out.

When I'm not absolutely certain, I do with a hotel instead. It is a lot more flexible than apartment rentals. I know some people are crazy for them. But for short stays, in new (to me) cities, I don't think they are always the best decision.

I am surprised to see that a country like France has no rules for such a case.
In my country , Greece, according to law, every reservation can be cancelled 2 days prior to arrival without any cancellation charges.
Personally i find a cancellation 2 months before the arrival insane and i would look for another apartment with a more flexible policy.

it should be 21 days prior arrival, not 2.....

>>They require a 700 euro security deposit<<

According to the listing it isn't a €700 deposit. It says €500/$700

I personally don't think a 3-night penalty is much at all. And the owner accepts final payment on arrival.

It is up to you if you think the security deposit is too much or not. I've rented places w/ security from $0 all the way up to equal to the week's rent.

<<Only? That's a $650 guaranteed spend on the apartment if you have to pull out. And travel insurance, if you get it, may not cover (coverages are very narrow).>>

NO, it is not, that is the security deposit, not a cancellation charge. It is for damages to the apartment. And is 500 euro, not 700 as janis noted. The 3 day penalty may be similar, I don't know, but the point ios one does not "have to" pull out, they usually choose to. If there is some reason they would likely have to pull out (whatever that could be, the only thing I can think of are personal situations you know are likely in advance, like health or family situation -- true, someone can always unexpectedly drop dead), they shouldn't be renting apartments and certainly should have travel insurance. Travel insurance would cover real reasons for backing out, like illness, not just a change of mind or itinerary.

But if someone doesn't like it, there are others, sure.

AS for rules in Greece, I am surprised they regulate private apartment rentals from owners to tourists for a few days. As a matter of act, all of these rentals are most likely illegal to begin with in Paris, from what I've read, I think, so the law is hardly going to help no matter what. I think the only legal ones are through agencies, not VRBO, but not sure of the details.

<<<NO, it is not, that is the security deposit, not a cancellation charge. It is for damages to the apartment.>>>

Not according to the OP. She says if she cancels 2 months in advance, she gets her deposit back minus 3 days's rent. Whether you call it a security deposit or a deposit deposit, it's still a cancellation penalty.

<<NO, it is not, that is the security deposit, not a cancellation charge. It is for damages to the apartment.>>

Whatever. The OP wasn't clear on the charge for per night so I estimated that the 500E was for the three nights based on what was posted above.

The nightly rent is 145E according to the listing. For three nights, that's 435E - a guaranteed loss of nearly $580 if the OP backs out. Do the conversion math at $1.33/1E - the current rate is 1.29+/1 and the OP likely isn't going to get the interbank rate.

No way I'd do it - must cancel 60 days in advance and lose nearly $600. That's stupid.

Of course the listing is poor because it says you can confirm your reservation with 25% down and cancel and obtain your money back minus the 3 night stay charge. If you're not staying enough time for the stay to cost at least 1740E, then you wouldn't have to reserve with 435E down but a cancelation would mean a loss of the whole deposit. Good luck getting me to pay the difference between the 25% down and the 435E if I had to cancel on a one-week stay that cost 890E.