A contract outlining the terms and conditions of a short-term rental stay, agreed upon by both the property owner/manager and the guest, typically covering house rules, cancellation policies, and liability waivers.
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Glossary Term: Cancellation Policy
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A reservation type where the guest is charged the full amount upfront and is not entitled to a refund if they cancel, often offered at a discounted rate.
A booking type where guests are not entitled to a refund if they cancel, often offered at a discounted rate.
A booking option offered at a discounted price in exchange for guests committing to the reservation with no option for a refund upon cancellation.
An agreement between a host and a guest to cancel a confirmed booking, typically initiated due to unforeseen circumstances or a change in plans by either party.
The terms and conditions that outline the rules and penalties for guests who need to cancel their booking at a short-term rental property.
A booking policy that allows guests to cancel their reservation and receive a full or partial refund within a specified timeframe, providing greater flexibility and peace of mind for travelers.
A booking option offered to guests at a lower price, but with a strict cancellation policy that forfeits the entire payment if canceled.
A set period after a booking is canceled when the host may be able to receive a partial or full payout, depending on the platform’s cancellation policy.
A cancellation policy that allows guests to cancel their reservation for a full or partial refund, depending on how far in advance they cancel.
The period before a guest’s scheduled arrival date during which they can cancel their reservation without incurring any financial penalties.
A cancellation policy that allows guests to cancel their reservation for a full or partial refund, depending on the time frame and circumstances of the cancellation.