Short term vacation letting policies are important for both hosts and guests. When many new hosts first begin renting out their property to guests, they are so focused on the guest experience and bookings process that they forget to think about smaller details such as terms and conditions.
Essentially, short term vacation letting policies help you provide the best possible level of service to your guests. In return, guests are given clear boundaries on what is expected from them before and during their stay. From cancellations to bookings and general rental requirements, these policies help to improve the overall accommodation industry by tightening regulations and setting guidelines on best practices.
Short Term Vacation Letting Policies
Some of the most important short term vacation letting policies that you may use include the following:
- Cancellation policy. This policy is extremely important as it protects you against last minute cancellations. Unless you have a clearly defined, easy to ready policy that specifically outlines what happens if guests cancel their booking at the last minute, you may end up with guests who take advantage of you. In this policy, you will need to tell guests what is expected from them when cancelling their booking. Do they need to give you a set number of days, weeks or months? Are refunds possible if cancellations are done before these cut-off dates? How will you deal with refunds – will they transfer back to the guest’s account? What other information is required from guests for them to cancel? Are there non-refundable booking fees? Make sure you include any and all info that relates to these rules.
- Booking policy. You will also need a broader policy that focuses on bookings. What payment options are permitted? Which are not? What is your procedure for payment and booking confirmation? Do guests need to pay in full before they can consider the rental booked? What other information do you need guests to have when it comes to bookings? This policy also needs to be clear and easily understood so that you do not have to deal with unhappy guests who are wondering why they cannot book. Here, you can also include your terms on turning down bookings.
- General rental policy. Your rental policy is relatively broad as well. This one focuses on how your guests use your property during their stay. This is useful if your rental is situated within a complex or apartment block. It is also useful if there are any specific terms that apply to shared spaces, parking, damages, breakage, noise and house rules. You can include check-in and check-out requirements here as well, along with your terms relating to neighbours, pets and anything else that may apply to the short term accommodation industry.
At Totalstay, we are committed to providing guests and hosts with the best level of service. We offer a full rental management solution that gives you the benefit of day to day management, guest concierge, bookings management and assistance in policies, house rules and other aspects of the short term rental process. To learn more about how short term vacation letting policies help to ensure a better managed rental, get in touch with our team today.