I guess that different villa owners set different terms and conditions - there should be a set of terms and conditions for your villa... what dot hey say?
Have looked at the Ts and Cs for our villa rental (for October) and it says:
"In addition to the rental charge a security deposit of US$1000 is payable when the final balance is due - to cover breakages or damage to the premises and or contents and excessive cleaning costs other than those normally incurred in connection with the occupation of the premises. The deposit will be refunded within 4 weeks of vacating the villa, subject to deductions to cover the expenses mentioned above."
If I was you (and it doesn't state in your Ts and Cs), I would email and ask when you should expect your security deposit to be returned to you.
You should have received something back by now, although there may be a simple reason why you have not - probably nothing to worry about but I would make contact anyway.
We went on to stay at OKW and Vero after we left the villa so our deporit was waiting for us when we got back from Florida. I'd contact them and ask where it is
In my experience, villa owners are not as 'on the ball' at returning deposits as they could be. It has been necessary for me to send a gentle reminder on a couple of occasions, but we've never had a problem - it always turns up eventually.
Boo is staying in the same $2M+ villa we stayed at in January. The security deposit was a bit of a shock to us, too, but we did appreciate why they were asking for that amount. Also, Reunion is a resort community which operates on a cashless basis. You are provided with a card (as you would be, say, at a Disney hotel) which acts as your credit card for everything you purchase onsite (meals, green fees, drinks, etc). The difference is that you don't deposit your own credit card as you would with a hotel - you are using the villa owner's credit. Our entire spending was included within the $1000 security deposit, so there's a huge amount of trust needed on both sides.