Which is the best cancellation policy?

[Mindy146]

Does it make a difference to guests on their selection of AirBNB listings solely based on cancellation policies? I assume so and if I am correct, which is the best cancellation policy to chose from? I am a new host and have several reservations but in the near future have NOTHING. I have advertised on IG & FB and at this point, I feel I am losing money. TYIA! 

[Joelle43 · Accepted solution]

Hello @Mindy146 

The more flexible you are with your cancellation policy, the more likely guests will want to book with hosts that offer this flexibility.

As a host myself, I could not go with the flexible option where guests can cancel 24 hours prior to their arrival date as the chances of getting a reservation in that short time frame for my area is nil.  So I offer a moderate cancellation period which is refundable 5 days prior to arrival date.  I also offer a non refundable rate which means guests get a 10% reduction on my rate and this is very popular.

The best cancellation policy is the one that suits you at the end of the day

I had a look a look at your listing which is very detailed and lovely.  It says that it accepts 3 guests but couldn't find in your description where the third person would sleep?  The picture your have of "where you'll sleep" doesn't actually show the guest the bed - maybe see if you can change that photo to reflect the bed?  Hopefully you will have another photo to choose from and if not delete the existing one and another one will pop up and then you can reinstate the one you deleted.

Your listing is minimalistic as you describe but If I may suggest this, I would add some cosy cushions and a throw on the sofa to warm the studio up a bit.  Same for the bed.  

Here is the Airbnb link of all the possible cancellation policies:

https://www.airbnb.com/help/article/475?locale=en

All the best

Joëlle

[Jenny]

Hello @Mindy146 

Welcome to the Community Center!

I think this is a really interesting question, so I hope you don't mind that I've updated the title of your post so that it's more eye-catching for anyone reading the Community Center.  I'd love to see some more discussion around this.

Thanks @Joelle43 for a wonderful, comprehensive response and helpful link!  

Jenny

[Mike-And-Jane0]

@Mindy146 Flexible will boost you in search but guests can actually leave part way through their stay and still get a refund. We use Strict which is perhaps the most onerous but we like the security of a booking being real.