Vacation Rental Management Companies Adapt Cancellation Policies to Extend Rebooking Dates and Offer Credits - VRM Intel
Summary
In response to the COVID-19 pandemic, vacation rental management companies are adapting their cancellation policies. They are extending rebooking dates and offering credits to guests. This allows for flexibility and attempts to retain bookings during uncertain times, providing some relief and financial stability. This is an immediate and critical issue for all hosts.
Key Insights
- •Vacation rental management companies are adapting cancellation policies.
- •Credits are being offered to guests.
- •Rebooking dates are being extended.
Action Items
- ✓Review and update your cancellation policies to provide flexibility during uncertain times.Effort: lowImpact: medium
- ✓Communicate your revised policies clearly to guests.Effort: lowImpact: medium
Common Mistakes
- ⚠Failing to adapt your cancellation policies could lead to lost bookings and negative guest reviews.
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