Cancellations

[Super58]

Hi everyone...

I'm new to hosting and  experienced my first cancellation.   My guest cancel on me the day before they were scheduled to arrive after booking those dates over a week in advance.  I had a flexible cancellation policy and didn't receive any pay at all. I immediately switched my settings to a strict cancellation policy. From Experience what is more common and recommended? 

[Brian2036]

@Super58 

We’re using Strict/Nonrefundable and everyone is choosing the Nonrefundable option.

No one has canceled yet so I can’t be sure that Airbnb will back me up if a guest comes up with an excuse they like.

 If someone is putting up a significant amount of money, say $1000 or more, I suggest that they use the money they saved to buy trip insurance.

[Mike-And-Jane0]

@Super58 strict for me. Do be aware that non-refundable still allows refunds under the Extenuating Circumstances policy and under the 'I saw a dust bunny' policy