A security deposit is held by thisopenspace to protect hosts in case of damage, additional cleaning, and overtime costs during a booking. A host has up to 48 hours following a booking to notify thisopenspace and request that the security deposit be withheld, within reason and with proof. See here for details on submitting a claim against the deposit.
When listing your space, you can choose the amount of your security deposit that guests will be responsible for. Average deposits are typically $100, $250, $500 or $1000, depending on the space and the daily/hourly rates. Hosts are in full control of the amount they charge for a security deposit. To see what deposit amount you have associated with your space, go to 'Your Listings' > Edit Listing > Pricing.
thisopenspace will collect the security deposit from a guest on your behalf and hold it in the event of damage or overtime in the space, given the 48 hour notice. thisopenspace will mediate any security deposit refund disputes and this decision is final.