Do you recommend having the cancellation policy on strict?

[Cervando0]

Hi do you guys experience a lot of “time wasters” on here? I have my cancellation policy on Flexible meaning potential guest can cancel the booking the day before check in. Which means someone can book 40 days out and then cancel

the booking the day before check in which leaves the host hanging because those days were tied up 40 days out. Do you recommend having the cancellation policy on strict? 

 [Title updated by OCM to make it relevant to the post]

[Mike-And-Jane0 · Accepted solution]

@Cervando0 it depends on your market. If you will get a last minute replacement booking then flexible is fine. If it takes a week to get a booking then go with moderate. If it takes months to get a booking go with strict.

We use strict.

[Cervando0]

Hi thanks for the reply. I live in nyc. I was thinking to go with strict. But don’t know yet. Just because please are booking 40 days to 3 months in advance and I dont want to have my calendar tied up with the “if” and the potential guest ends up canceling the night before check in day. Once the booking is made those dates are locked and no one else can book those days correct?

[Fred13]

Every cancellation policy comes with a price, the more favorable it is to the guest and chancier to the host do lead to more bookings but less dependable ones.

[Bea2137]

@Cervando0 I use a strict cancellation policy. Having a strict cancellation policy can be beneficial as it ensures predictability for your cashflow, protects against last-minute cancellations, and underscores the value of your time or services.