Hi blue neptune,

As you wait to hear from other Community members, this discussion about advance payments/cancellations may be of some interest.

All the best,

Laura

our policy is anything longer then 30 days we keep all the money.

that being said we have been a bit nice and will refund depending on the situation.

We require 1/2 of the rent before we make the booking.  The second half is due 60 days before the rental begins. And, we have a no refund policy.   However, for a fee of $300 we will attempt to re-rent a person's dates for them.  This has only happened 3-4 times in 5 years.  Each time we have been able to re-rent the dates.  One time a fellow was physically injured a week before his stay.  In that case, we let him transfer his weekend to a different, similarly priced date a month later.

Our renters know our policy up front.  It keeps out the folks who want to reserve dates, just in case.  As some one else said, hotels service that market.

We do this because most of our summer rentals are booked between December and March.  If someone would book and cancel we could very well miss our prime booking season.  Also, the rental income is earned at the point the booking is made.  Therefore, it is ours to spend at that time.  And, we don't have to keep such a large reserve to cover cancellations.

Gloria  

Like laughscott, our policy states that a we will refund only if the property can be re-booked, and if it is re-booked at a lower rate, the refund will be for the amount received. If this is stated in plain language and highlighted in the lease, it should not be a problem. I obtain half of the rent upon booking, and the balance 30 days prior to occupancy, although I have thought of changing the balance to 60 days prior, to give us a better chance of re booking in case there is a cancellation. Depending on where your rental is should determine your balance date. We are in New Jersey and our high season is only about 11 or 12 weeks long, with about 7 mid season weeks. The rest of the year is low season so we really depend on the high and mid season rentals.

Our lease agreement states clearly that the cancelling renter will receive a full refund MINUS a $100 processing fee IF the house is rerented for the full amount of the rent posted on the listing.  If the house is not rerented, there will be no refund.  We require full payment 60 days prior to arrival.

Linda