Policies or plans in place to address potential disruptions caused by weather events, such as hurricanes or snowstorms.
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Glossary Term: Cancellation Policy
28 posts
A pricing option offered to guests that provides a discounted rate in exchange for a non-refundable booking, often used to attract early bookings or minimize cancellations.
A cancellation policy that allows guests to cancel their booking with a full or partial refund, subject to certain conditions.
The standard or most common cancellation policy used by hosts or property managers in the short-term rental industry.
The terms and conditions that outline the rules and penalties for canceling a short-term rental booking, for both hosts and guests.
A booking option offered to guests at a discounted price, typically requiring full payment upfront and non-refundable in case of cancellation.
The terms and conditions that determine the refund amount a guest is entitled to if they need to cancel their booking, ranging from flexible to strict.
A booking option on some platforms where the host is guaranteed payment even if the guest cancels, often at a higher commission rate.
Offering a balanced cancellation policy that provides flexibility for guests while protecting the host from last-minute cancellations and potential loss of income.
A legally binding contract between the host and the guest outlining the terms and conditions of the rental, including the rental period, payment terms, house rules, and cancellation policy.
A clear and concise outline of the terms and conditions under which a host can cancel a booking, and the consequences for both parties. A fair and transparent cancellation policy builds trust with guests and protects both hosts and guests from unforeseen circumstances.
The terms and conditions that outline the refund policy for guests who need to cancel their booking, ranging from flexible to strict.