cancelation options

[Brian2448]

Hello All, My name is Brian and have just started hosting.  In putting our listing together, I made the mistake of offering-up the most flexible cancellation policy that AIrbnb offers - one day!  No wonder why we had such immediate success!  We have moved this to "Firm"  but still am not sure if that is the right policy to use (ie., when someone can book a week today for next August and walk away 30 days from a visit, it could then jeopardize getting the house ever filled).  This may be just what it is but am curious as to what everyone else may be doing with similar properties and their policies.

Thank you,

Brian

[Anonymous]

@Brian2448  I suggest keeping the strictest cancellation policy option that's available for your listing. You are still free to make exceptions on a case-by-case basis if you want to, but it gives you a better opening position.

[Huma0]

@Brian2448 

I agree with @Anonymous . I started off with the 'moderate' policy because it sounded fair. However, I soon realised that some guests would wait until right before the cut off for a full refund to cancel, meaning it was unlikely for me to get a replacement booking even during high seasons.

I then switched to Strict and was happy with that. Like @Anonymous said, you can always offer them an additional refund if you think it is warranted, e.g. if the nights get rebooked.

[Sudsrung0]

@Brian2448 

I agree with the other guys, we have always had strict cancellation turned on,

Dont allow them to cancel on you at the last minute the chance of getting a booking are pretty slim,

[Helen744]

@Brian2448 Brian , I have flexible cancellation and instant book . I have a two day minimum .It is rare for guests to hold and cancel the day before, as i honestly dont think most guests read the cancellation policy even though they agree to it. this prevents those who do cancel from saying they were not aware of my policy or having a hissy fit about it.H

[Helen3]

You don't need to open up your calendar until next August unless your market is one where people book a long term in advance. You could open it for three months and only accept guests with positive reviews if you use IB while you familiarise yourself with how the platform works and how to vet your guests.

I use Strict.

[Debra300]

@Brian2448

We initially started off with the Strict policy, and a 3 month booking window, because it's difficult to get a replacement booking for a last minute cancellation, but we felt that cancellation policy was unattractive to many guests during the height of the pandemic.  We now offer Firm and non-refundable cancellations, and the booking window is 6 months.  This works for us, because most of our bookings are usually made within a few of months of the scheduled arrival date.  Thus far, all guests have selected the discounted non-refundable rate, or its the only one available if the booking occurs within 30 days of arrival.  

[Brian2448]

Debra, thank you for taking the time to respond.  Good information and sounds applicable here as well.

thanks again

brian

[Gillian166]

Hi @Brian2448  I use the moderate policy, but my average stay is 1.7 days, people tend to book only a month in advance (barring Xmas of course).  Usually I can rebook with just 5 days lead time. Today we had a guest "forget" he had a booking, so he cancelled at 3pm, and by 4pm I had another booking. Once you know the rhythm of your bookings you'll know which policy works best for you. If I were hosting longer stays i think I'd also do the 30day option.

[Brian2448]

Thank you all for taking the time to share your policies and what has worked for you.  Great info across the board.