So you bought a vacation home and you love spending time there with your family. However, you want to make good use of the home during the time that you are not vacationing. The most common decision for property owners here, in Central Florida, is to rent out their property. And a wise decision it is too. The only potential pitfall here is the risk of people who book and cancel, leaving you with a small cancellation fee and an empty place that will not generate any income until another guest comes along.
Here are a few steps that you can follow to avoid booking cancellations on your vacation home:
Make A Policy
Making a crystal clear cancellation policy would be a wise move. You need to send a copy of this to the client before they book. A cancellation policy makes things easier for you. Make sure that you outline all details here.
Non Refundable Fee Policy
If you are renting the home during peak vacationing seasons, a good idea would be to charge a non-refundable deposit. The norm is that guests make a reservation a couple of months before hand and because of the high demand accompanied by the vacationing season, your home cannot be out of demand. In addition, you can even charge guests a high non-refundable amount if they want to book early. This way, you will have some assurance that the guests are not going to cancel.
Repeat Guests rarely cancel. This is because they enjoy returning to a familiar place. One of the reasons that guests cancel bookings is because they have never spent time in your vacation home, and, as soon as, they come across something that they find appealing on the surface, they go for it.
A few ways that you can get repeat guests are by offering discounts or adding them to your email list after they have spent time at your vacation home.
Offer Trip Insurance
You can definitely offer trip insurance. It is best that you let the customers buy trip insurance through you. The advantage here is that trip insurance is worth 8% of the booking, so they pay the extra amount and if they cancel, you get to keep this amount.
In the end, do not forget to work with your clients. If a client cancels because they think that the weather might not be as expected, stay true to your cancellation policy. However, if the guest is faced with a medical emergency and would like to move the date ahead, let them. You never know, a little bit of cooperation may just get you repeat business every year.
If you are interested in buying property in Central Florida, visit JC Penny Realty’s website and browse through their house listings, New Resort Communities. Location is what matters here. You can easily find properties close to Disney, great golf courses, and other entertainment venues. And of course, you can always enjoy the warm sandy beaches of the sunshine state.
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