BLOG TOPICS
Get It Now.png)
February 3, 2023
Attention Airbnb hosts! Airbnb has recently made changes to its long-term stay cancellation policy, and you need to know all about it. This new policy impacts both hosts and guests differently, so let's dive into the details and understand what it means for everyone involved. Don't miss out on this crucial update!
Let’s take a look at the details of this new cancelation policy and what it means for both guests and those owning an Airbnb.
Last year Airbnb introduced a new long-term stay cancellation policy called “Firm.” The company claims that hosts who adopted this Airbnb cancelation policy saw good results. On average listings with this new policy saw a 9% increase in the number of nights booked across stays of 28 nights or more.
Airbnb is now doubling down on this policy due its apparent success. For hosts who employ the current “Strict” policy on their long-term stays, Airbnb will automatically update it to the more flexible “Firm” policy on March 8, 2023. Hosts still have the option to stay on the “Strict” long-term stay cancellation policy, but will need to opt out of the change by March 2.
With the Firm policy, guests can receive a full refund if they cancel at least 30 days before check-in on long-term stays – as opposed to the “Strict” policy where guests can only receive a full refund if they cancel within 48 hours of booking. If a guest cancels after that, hosts will be paid 100% for all nights spent, plus 30 additional nights. If fewer than 30 nights remain on the reservation when the guest cancels, you’ll be paid 100% for all remaining nights.
You will still get paid if guests cancel mid-trip: Guests who cancel after check-in pay for all nights they stayed, plus 30 additional nights.
First, figure out the impact that a more lenient cancellation policy has on booking conversion for your primary booking channels. Do flexible policies still receive significantly more bookings like they did during the peak of COVID or has that need to be reduced back to 2019 levels? What percentage of travelers are actively filtering for more lenient cancellation policies in your market?
Second, take a look at the cancellation rate percentages by policy for your market. You need to be confident that a more lenient policy doesn’t open you up to the uncertainty of unreasonably high cancellations.
Assuming you want to enable a more lenient policy, it sounds like Airbnb will automate it for long stays by automatically updating your policy from “Strict” to “Firm. However, you may want to adjust it for shorter stays and across your other booking channels as well. Unless, of course, your distribution strategy involves giving a competitive edge to a particular source.
And, if your payment processor still charges you the credit card processing fees for cancellations, consider reducing the down payment percentage to lessen the prospective impact.
With these changes taking place, those who are in Airbnb property management should plan ahead to prepare their business. We know that it can be challenging to keep up the constant change, so keep up with Beyond’s blog for the latest! Vacation rental property management professionals can also follow us on their favorite social channels: LinkedIn, TikTok, Instagram, Facebook, and Twitter.
Since pioneering dynamic pricing for the short-term rental market in 2013, Beyond has helped thousands of users price millions of listings and generate billions of dollars in revenue. Beyond’s unparalleled access to and analysis of real-time, advanced global short-term rental data powers its ability to unlock, inform, and automate action for every kind of hospitality business.
.png){kind=small}
.png){kind=small}
Mi tincidunt elit, id quisque ligula ac diam, amet. Vel etiam suspendisse morbi eleifend faucibus eget vestibulum felis. Dictum quis montes, sit sit. Tellus aliquam enim urna, etiam. Mauris posuere vulputate arcu amet, vitae nisi, tellus tincidunt. At feugiat sapien varius id.
Eget quis mi enim, leo lacinia pharetra, semper. Eget in volutpat mollis at volutpat lectus velit, sed auctor. Porttitor fames arcu quis fusce augue enim. Quis at habitant diam at. Suscipit tristique risus, at donec. In turpis vel et quam imperdiet. Ipsum molestie aliquet sodales id est ac volutpat.
Elit nisi in eleifend sed nisi. Pulvinar at orci, proin imperdiet commodo consectetur convallis risus. Sed condimentum enim dignissim adipiscing faucibus consequat, urna. Viverra purus et erat auctor aliquam. Risus, volutpat vulputate posuere purus sit congue convallis aliquet. Arcu id augue ut feugiat donec porttitor neque. Mauris, neque ultricies eu vestibulum, bibendum quam lorem id. Dolor lacus, eget nunc lectus in tellus, pharetra, porttitor.
"Ipsum sit mattis nulla quam nulla. Gravida id gravida ac enim mauris id. Non pellentesque congue eget consectetur turpis. Sapien, dictum molestie sem tempor. Diam elit, orci, tincidunt aenean tempus."
Tristique odio senectus nam posuere ornare leo metus, ultricies. Blandit duis ultricies vulputate morbi feugiat cras placerat elit. Aliquam tellus lorem sed ac. Montes, sed mattis pellentesque suscipit accumsan. Cursus viverra aenean magna risus elementum faucibus molestie pellentesque. Arcu ultricies sed mauris vestibulum.
Senectus nam posuere ornare leo metus, ultricies. Blandit duis ultricies vulputate morbi feugiat cras placerat elit. Aliquam tellus lorem sed ac. Montes, sed mattis pellentesque suscipit accumsan. Cursus viverra aenean magna risus elementum faucibus molestie pellentesque. Arcu ultricies sed mauris vestibulum.
Montes, sed mattis pellentesque suscipit accumsan. Cursus viverra aenean magna risus elementum faucibus molestie pellentesque. Arcu ultricies sed mauris vestibulum. Montes, sed mattis pellentesque suscipit accumsan. Cursus viverra aenean magna risus elementum faucibus molestie pellentesque. Arcu ultricies sed mauris vestibulum.
Nunc sed faucibus bibendum feugiat sed interdum. Ipsum egestas condimentum mi massa. In tincidunt pharetra consectetur sed duis facilisis metus. Etiam egestas in nec sed et. Quis lobortis at sit dictum eget nibh tortor commodo cursus.
Morbi sed imperdiet in ipsum, adipiscing elit dui lectus. Tellus id scelerisque est ultricies ultricies. Duis est sit sed leo nisl, blandit elit sagittis. Quisque tristique consequat quam sed. Nisl at scelerisque amet nulla purus habitasse.
Nunc sed faucibus bibendum feugiat sed interdum. Ipsum egestas condimentum mi massa. In tincidunt pharetra consectetur sed duis facilisis metus. Etiam egestas in nec sed et. Quis lobortis at sit dictum eget nibh tortor commodo cursus.
Morbi sed imperdiet in ipsum, adipiscing elit dui lectus. Tellus id scelerisque est ultricies ultricies. Duis est sit sed leo nisl, blandit elit sagittis. Quisque tristique consequat quam sed. Nisl at scelerisque amet nulla purus habitasse.
Nunc sed faucibus bibendum feugiat sed interdum. Ipsum egestas condimentum mi massa. In tincidunt pharetra consectetur sed duis facilisis metus. Etiam egestas in nec sed et. Quis lobortis at sit dictum eget nibh tortor commodo cursus.
Morbi sed imperdiet in ipsum, adipiscing elit dui lectus. Tellus id scelerisque est ultricies ultricies. Duis est sit sed leo nisl, blandit elit sagittis. Quisque tristique consequat quam sed. Nisl at scelerisque amet nulla purus habitasse.
Nunc sed faucibus bibendum feugiat sed interdum. Ipsum egestas condimentum mi massa. In tincidunt pharetra consectetur sed duis facilisis metus. Etiam egestas in nec sed et. Quis lobortis at sit dictum eget nibh tortor commodo cursus.
Odio felis sagittis, morbi feugiat tortor vitae feugiat fusce aliquet. Nam elementum urna nisi aliquet erat dolor enim. Ornare id morbi eget ipsum. Aliquam senectus neque ut id eget consectetur dictum. Donec posuere pharetra odio consequat scelerisque et, nunc tortor.
Etiam egestas in nec sed et. Quis lobortis at sit dictum eget nibh tortor commodo cursus.
sed interdum. Ipsum egestas condimentum mi massa. In tincidunt pharetra consectetur sed duis facilisis metus. Etiam egestas in nec sed et. Quis lobortis at sit dictum eget nibh tortor commodo cursus.
.png)
.jpg)