Cancellation Fee?

[Damian261]

Hi...relatively new to AirBnB but already have 5 bookings in the pipeline and had 1 guest stay. Really enjoying the experience.

Of late i have had a slight issue with cancellations. The last cancellation has been 4 days pre - check in for a 5 day stay.

Made worse by the fact that i had an enquiry from Canada for a 10 day stay that i had to turn down. 

I would appreciate advice on cancellation fees......is it best to have a zero cancellation fee?

Any help from experienced hosts would be greatly appreciated.

Thanks

[Mike-And-Jane0]

@Damian261 You are confusing two things (I think)

If a host cancels they are fined $50-100 and get their calendar blocked.

If a guest cancels then the penalty on them depends on your cancellation policy.

Flexible means the guest can cancel up to the day before their stay and get a full refund

Strict which is what we use means the guest loses 50% a number of weeks before their stay and everything bar the cleaning fee if they cancel close too their stay.

Other cancellation policies are also available.

You may want to consider changing to a more severe cancellation policy but Airbnb would say you may get less bookings as a result.