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I don't take deposits at all. And I allow cancellations up to 7 days in advance. It all depends on your situation. I have very few cancellations. And so far only two no shows in all my years of doing this. No shows are charged for the full stay. Cancellations are charged for a single night, as per my policy. I sometimes will give out the GC (it's not policy, it's my choice) but it's restrictive and can't be used for fees, ever. And change of date is considered a cancellation and a new booking, subject to the cancellation fee. No way out of the cancellation fee.Stick to your guns. Follow your policy. When they made a reservation, they entered into a contract with you. Because they chose to cancel/reschedule within a given period, they are subject, by the terms of the contract to forfeit whatever charge was stated in your policies.
Why in God's name would anyone give a gift certificate for a someone who is canceling or rescheduling a reservation with short notice? You have taken that room off the market and if you can't rebook that date, you lose that income. If you're just trying to be nice, offer to transfer their deposit IF you can rebook the room. Otherwise, they will just need to place a new deposit..Proud Texan said:. . . Why in God's name would anyone give a gift certificate for a someone who is canceling or rescheduling a reservation with short notice? You have taken that room off the market and if you can't rebook that date, you lose that income. If you're just trying to be nice, offer to transfer their deposit IF you can rebook the room. Otherwise, they will just need to place a new deposit.
I have wondered this myself. "This deposit secures THIS reservation on THIS date for THIS room, and cannot be changed unless it is replaced by another." It's sort of like taking an option out on the room. I won't -- can't -- sell the room to anyone else, but if you choose not to exercise your option, well . . . don't think you're going to make your problem become mine!" I personally would have deposit, of whatever amount, to hold the room, and at the beginning of the cancellation period the full amount would be charged. A refund would only be available if the rooms could be re-let before the actual reservation date, and only up to the amount I was able to get (less a cancellation fee). "You booked it, you 'bought' it and it's gone; it can't be returned, and I can't get it back."
Last night, I found a place that had a 60 DAY cancellation period. All cancellations are charged $150 PER PERSON.
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But I also have to deal with a lot of competition. And the difference in policies between B&Bs does make a difference. Some B&Bs charge a deposit. Others charge a cancellation fee. It does make a difference in how people and when people book. I found that with a deposit people held off to just a few weeks in advance. It was counterproductive to my planning. I also get longer bookings by not charging a deposit. And as I said, I get very few cancellations. But your mileage may differ.