The first method is collecting the deposit with the traveller directly. Please reach out and come to a clear understanding with the traveller on how this will be collected and returned.
The second method is having the CanadaStays site collect this fee.* CanadaStays will retain the fee for the duration of the travellers stay. If an incident occurs, and you intend to keep the damage deposit, a claim must be filed. You have up to 7 days to file a claim from when the traveller checks out. Please see How To Open A Claim for a Damage Deposit? for more details.
*Please note: Having CanadaStays collect your damage deposit is a feature only available to owners with their default currency set to CAD. The feature is currently not available to those who use a property/channel management software.