Decline accepted reservations

[Sharad0]

Hi I am new to hosting with Airbnb.
I guess what I want to find out if I accept a booking 2 months in advance and if want want to decline it providing enough notice period of Mayb 1-2weeks in advance.
Am I able to do that? If yes what are the consequences?

[Clare0]

@Sharad0 Yes, you can cancel a confirmed reservation but Airbnb imposes severe penalties in order to discourage hosts from cancelling. 

Before you cancel a reservation you should read both of these links very carefully and decide whether it is worth it. 

https://www.airbnb.com/help/article/990/how-do-host-cancellation-penalties-work

https://www.airbnb.com/help/article/849/extenuating-circumstances-for-host-cancellations