What cancellation policy do you use? Whats fair?

[Mark374]

I am slow I guess, when I setup the room for rent I clicked on the one that sounded fair to the guests. The lowest one, cancel 24 hours prior and get your money back.  I should have paid attenention to the other page that also says they get money back for days unused. 

So I have a person that booked 6 days.  The first night here he decided it was too hot here, and left, and cancelled the reservation. So now I have open 5 days.  Unlikely that they will fill up at the last minute but they might. The guest didnt realize I didnt have AC and its 80 degress in here. Honestly if I had AC it would be set at 80 anyway. 

The listing on the web for cancellations should show not only the refund but also the refund after they arrive so idiots like me would at least know. 

I was going to change it to the next cancelation policy but that seems a little harse. I have been doing this for 4 months and never bumped into this before. 

Somehow it seem like the policy should definable for each day. I know there is a policy for weeks and months. But not under a week.

But wondering what do you all think?  What policy do you use?

[Farah1]

@Mark374 I always use strict cancellation policy since I started hosting. Fortunately my place is still booked and I rarely have cancellation. Based on my experience, I am happy with the strict cancellation policy.

[Kate157]

Hi @Mark374 I have always used the moderate policy. This is what I look for when I am booking stays for myself. I think it is a very fair policy, and it has worked well for me for four years.

[Jann3]

I am new to ABB & will begin hosting soon. My policy will be "strict" as there are few properties that are more than "rooms in a house" in my town and I have a studio built w/in the last 10 years. I feel the more different your property is, the stricter you can be. I may loosen up in the future if I don't get bookings but I think "strict" is fair for the property style.