I've been considering changing the cancellation policy on my large property that takes 12 as a group.
It's currently 'firm' and we've had a few cancellations this year already where the guests cancel just before the 30 day window.
The problem for us is that people book this type of property at least 3 months in advance so there is no way I will get another large group booking replacement. People organising large friend or family groups need a few months notice. (I might get a half house booking for a much reduced price but thats a maybe)
I used to have strict for many years, but Airbnb keeps sending hosts messages around, be as flexible as you can be yadah yadah.... but I think it's not working for us to be more flexible? I've had this 'firm' policy since covid pandemic.
By the way, we've never had someone cancel within the period where we keep ANY money.
So, what do others with large properties do for a cancellation policy? Should I try the reduced 10% policy where at least we keep something?