Cancellations

[Matthew1646]

I have had three major bookings cancel on me this summer. All three were for at least a week and much of the income I was looking to generate this summer. My cancellation policy is flexible right now. My question is what is the best cancellation policy? Will changing it cut down on bookings? I have lost thousands of dollars because of people cancelling on me. Are there different settings I can use for extended stays?

[Debbie210]

We have a Strict policy. 
We have had many bookings with this Strict policy in place. We figure why block our rental and leave us unrented, if the guest changes their mind! 

[Helen3 · Accepted solution]

@Matthew1646  I've used strict since I started eight years ago and have plenty of booking. Only use flexible if you find it easy to get last minute replacement bookings. 

if you offer a flexible cancellation policy you always risk people doing last minute cancellations.

[Mike-And-Jane0]

@Matthew1646 It really doesnt matter if a stricter policy reduces your bookings. At least those bookings you get are more secure.

[Fred13]

The more liberal the cancellation policy is the more is subject to chance.