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.
The specific conditions and policies outlined by hosts regarding cancellations, refunds, and penalties for guests who need to change or cancel their reservations.