Based on several host comments in this thread, it seems many hosts including me want the ability to set cancellation policies based on the month instead of having 1 constant cancellation policy.
This is an important feature for seasonal, vacation rental businesses especially, in vacation areas.
https://community.withairbnb.com/t5/Hosting/Flexible-vs-Moderate-Cancellation-Policy/td-p/328498/pag...
SCENARIO:
Have stricter cancellation policies during busy seasons, with higher rates, when people book in advance at higher rates.
When the season is slower, and it is to be expected that fewer people are traveling, a flexible cancellation policy would be more logical.
PLEASE THUMBS UP THIS POST IF YOU WANT AIRBNB TO ADD THIS FEATURE.