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Rental strict cancellation policy - Covid19

CPNY

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Let me preface this by saying I’ve rented units in the past with a no refund policy and have lost money by not being able to go, that’s the risk you run when renting.

Current situation: I posted my week with a full service site and I have a renter who used the website to book a week in March with a strict cancellation policy in place, basically no refunds etc etc. I lowered the unit three months before check in date on the full service site to well under market rate just to cover some of the MF. I even had to turn down other inquiries a week later for 700 more from a listing I had on another site I forgot to take down (which annoyed me at the time). I just received an email from the agent saying “we haven’t heard back from you since our email on Monday about the renter wanting to cancel”. I went back and checked all mail boxes and have not received any such email. I checked junk, trash, and archived, you name it, no email.

Anyway, the renter wants to cancel and while I’m extremely sympathetic to this situation I’m also thinking about my own financial loss here. Im not an airline or travel agent, just a joe trying to recoup some money i keep paying out all while offering cheaper options for renters. I’m already 575 in the negative on what I offered the unit for under MF and the website (full service fee). I feel like I put this cancellation policy in place to protect myself and I’m also paying this full service website to handle cancellation requests. Ok, my selfish rant is over. I do not want to lose the money I’m supposed to be paid after the check in date.

How you would respond to the full service listing agent? Keep in mind I’m going to lose even more money on fees for now cancelling the reservation. I’m willing To work with the renter, such as bank the points and try for another week next year based on availability etc. Would it be wrong to deny a refund and stick to the strict cancellation policy? Or maybe offer to refund 75% and keep some to offset my loss for cancellation policy? Is it unreasonable to offer to rebook this year or next year based on availability and keep the money? How would others handle this? Again, I’m sympathetic to the situation and want all parties involved to be satisfied.

total loss would be
Under the MF + website full service fee 575
Cancellation fee I have to pay 100
Banking fee (I have to do something with these points) 100
total loss 775 + possibly future lost points if they aren’t used which they probably wouldn’t be. I have more than I need as it is.
 

SandyPGravel

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What's the point of having a strict cancellation policy if you aren't allowed to enforce it? Shouldn't the renter accept some responsibility here? Shouldn't they have purchased travel insurance? Although even travel insurance wouldn't cover "I just don't want to go now."

I'm on your side.
 

Steve Fatula

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The site is was rented from doesn't have their own cancellation policy you must follow? If not, and according to their policies where it was listed it's ok to have a no cancellation policy, I would say you shouldn't refund their money as your policy was there, assuming it was clear.
 

CPNY

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The site is was rented from doesn't have their own cancellation policy you must follow? If not, and according to their policies where it was listed it's ok to have a no cancellation policy, I would say you shouldn't refund their money as your policy was there, assuming it was clear.
It was redweek full service listing

here are snapshots of the agreement by redweek. I hate being guilted into this.... next time I’m using my own and taking Venmo then changing my email address. I’m tempted to not even respond. Ugh

770C2A87-92A4-4DBE-879C-CCD0AA56D881.jpeg
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CPNY

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While I think about it, there are no travel restrictions..... I’m traveling. If people want to cancel that’s their own choice due to fear. If they are sick then again, that’s out of my control. I know how this will play out, I’m going to feel terrible about this if I don’t cancel.
 
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CalGalTraveler

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What is their reasoning for cancelling? It sounds like your rental is not in an infected area? Why didn't they purchase travel insurance?

How about charge them for the cancellation fees and banking points and then offer a future rental for use within the next year? (i.e. hang onto their money). If they don't use it then you keep the $.

Another option is to say it's too late. Tell them the unit will be made available to them and they can offer to family or friends to use.
 

CPNY

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What is their reasoning for cancelling? It sounds like your rental is not in an infected area? Why didn't they purchase travel insurance?

How about charge them for the cancellation fees and banking points and then offer a future rental for use within the next year? (i.e. hang onto their money). If they don't use it then you keep the $.

Another option is to say it's too late. Tell them the unit will be made available to them and they can offer to family or friends to use.
That’s a good option offer it to someone else. They don’t want to travel because of coronavirus. Maybe they are affected. I believe they are close to an area that is heavily affected. If they are Sick you’re right, they should have purchased travel insurance offered by redweek. So I noticed the redweek listing defaults to a flexible cancellation policy to where they can cancel a day before check in. Luckily I noticed that and emailed the agent and told them specifically to change it to strict no cancellations (annoyed they don’t even tell you that). I’m also traveling the same time, I’m going. No one is at the airports. Going To an island is probably the best place to be! I just don’t know how to respond. I’m also truly annoyed that the agent didn’t just squash it and say sorry there are no cancellations...... that’s it. That’s why I paid them. To handle this.
 
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goaliedave

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Let me preface this by saying I’ve rented units in the past with a no refund policy and have lost money by not being able to go, that’s the risk you run when renting.

Current situation: I posted my week with a full service site and I have a renter who used the website to book a week in March with a strict cancellation policy in place, basically no refunds etc etc. I lowered the unit three months before check in date on the full service site to well under market rate just to cover some of the MF. I even had to turn down other inquiries a week later for 700 more from a listing I had on another site I forgot to take down (which annoyed me at the time). I just received an email from the agent saying “we haven’t heard back from you since our email on Monday about the renter wanting to cancel”. I went back and checked all mail boxes and have not received any such email. I checked junk, trash, and archived, you name it, no email.

Anyway, the renter wants to cancel and while I’m extremely sympathetic to this situation I’m also thinking about my own financial loss here. Im not an airline or travel agent, just a joe trying to recoup some money i keep paying out all while offering cheaper options for renters. I’m already 575 in the negative on what I offered the unit for under MF and the website (full service fee). I feel like I put this cancellation policy in place to protect myself and I’m also paying this full service website to handle cancellation requests. Ok, my selfish rant is over. I do not want to lose the money I’m supposed to be paid after the check in date.

How you would respond to the full service listing agent? Keep in mind I’m going to lose even more money on fees for now cancelling the reservation. I’m willing To work with the renter, such as bank the points and try for another week next year based on availability etc. Would it be wrong to deny a refund and stick to the strict cancellation policy? Or maybe offer to refund 75% and keep some to offset my loss for cancellation policy? Is it unreasonable to offer to rebook this year or next year based on availability and keep the money? How would others handle this? Again, I’m sympathetic to the situation and want all parties involved to be satisfied.

total loss would be
Under the MF + website full service fee 575
Cancellation fee I have to pay 100
Banking fee (I have to do something with these points) 100
total loss 775 + possibly future lost points if they aren’t used which they probably wouldn’t be. I have more than I need as it is.
I'm with you. It's a contract. Buyers must abide by t&c. So many whiners complaining about accomm and airlines and sellers who won't waive their t&c. This is what travel insurance is for!!

Sent from my SM-A505G using Tapatalk
 

Ski-Dad

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Its the renters problem not yours. Its hard to not feel sympathetic here, but the loss is going to fall on someone. The fair thing is to refer to what was agreed to at the time of rental. You have a contract that is clear, the loss falls on the tenant.

If I were going to offer anything, it would be 50% max. I would only do this, if I had the possiblity of maybe renting it out again. How far out are your dates? Location?
 

CPNY

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Its the renters problem not yours. Its hard to not feel sympathetic here, but the loss is going to fall on someone. The fair thing is to refer to what was agreed to at the time of rental. You have a contract that is clear, the loss falls on the tenant.

If I were going to offer anything, it would be 50% max. I would only do this, if I had the possiblity of maybe renting it out again. How far out are your dates? Location?

March 21st check in 2 bedroom lockout Harborside at Atlantis.

hows Grandview? I have a seller that accepted my offer and I the process of waiting I picked up a regal vista unit. I need to find a buyer for the Grandview 122K unit because I think it’s a GREAT deal. I was tempted to pick it up too but I really don’t need it. Especially after this whole debacle. Maybe I have more in my portfolio than I actually need.
 

Ski-Dad

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I have never actually been to Grandview. Strictly a trader.
 

CalGalTraveler

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They might be concerned about re-entry into the U.S. because of quarantines that may be imposed by then.

Another idea: How about offer them a partial refund if it gets re-rented by x date. (I know there is not much time though).

Be prepared with your contract terms, they will likely fight it on their credit card and you will need to present the signed contract.
 

Jan M.

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If you ever rent through eBay and are in this situation here is something you might want to remember. If you don't do a full refund you can't get the 10% final value fee back. So if a resort offered you the chance to cancel and get your points back but you had to buy a guest certificate and they won't give you a credit or refund for the guest certificate then you can't do a full refund.

If you have expenses that you can't get back and can't re-rent the reservation then I would deduct them from any amount refunded to the renter. But as others said with a no cancellations and no refunds policy it is entirely up to your discretion on whether or not to do any kind of refund.
 

bluehende

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You are certainly not doing anything wrong by keeping the rent. Having said that if you can do anything to lessen the pain for yourself after cancellation then those savings should be passed on the renter.
 

CPNY

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They might be concerned about re-entry into the U.S. because of quarantines that may be imposed by then.

Another idea: How about offer them a partial refund if it gets re-rented by x date. (I know there is not much time though).

Be prepared with your contract terms, they will likely fight it on their credit card and you will need to present the signed contract.
Would I have to fight that? Wouldn’t redweek have to fight that? I used their full service offering to list and book this. These are from their signed electronic contract. I assume I’d be protected under airline interruptions? I don’t see a travel ban anyway, too much money would be lost.
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Steve Fatula

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Yep, travel insurance, that's the exact purpose. You can get "for any reason" insurance which would cover this. It's not your issue, I wouldn't feel bad for holding to your clear policy.
 

CalGalTraveler

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IMO contract sounds airtight to me. Redweek will need to fight renter but you will need to remind them of the contract - especially since the money is in escrow and they would be concerned about their reputation. FYI...there have been situations where AirBnB will refund the money if renters can produce a doctors note and will override.
 
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oneohana

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I wouldn't let them cancel. There is no travel ban and the resort is open. Why should you suffer because they have second thoughts. That would be a lot of restricted options to use.
If Redweek wants to refund them the money, let them pay for it.
 

elaine

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I only rent to friends and some on tug, but even I have a strict no cancel policy. I will offer to bank points, try for another place/date, but no guarantees. I do not think you should have to absorb the costs. however, if they paid via CC or paypal, they might submit a complaint, however unjustified, and try to reverse the charge.
 

CPNY

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I only rent to friends and some on tug, but even I have a strict no cancel policy. I will offer to bank points, try for another place/date, but no guarantees. I do not think you should have to absorb the costs. however, if they paid via CC or paypal, they might submit a complaint, however unjustified, and try to reverse the charge.
Well redweek can deal with that. Besides the plane is flying there, the resort is open, there are no travel bans, and if their credit card has has travel insurance built in they would need to make a claim. To my knowledge worrying about a virus that is no worse than the flu which they could have gotten from traveling as well is not a qualified claim. The more I think about it the more I’m mad at redweek. I paid them to be a full service listing, waiting on the payment until the day after check in, they should have stepped right in and said “we are sorry there is no cancellations on this for a reason if you purchased our travel insurance and become sick please refer to the insurance claim policy” not oh hang on let’s put the owner is a crappy situation. THEN lie about sending an email on Monday which they didn’t.
 

TheTimeTraveler

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I use a strict policy when I rent and I always advise my customers to purchase Travel Insurance to cover ANY unforeseen issue. Obviously the Corona Virus is an unfortunate and unforeseen issue, but I wash my hands of that at time of rental.

Cancellations don't seem to be a huge issue right now, but I really wonder what will be happening at this time next year ?

Obviously, the Corona Virus is a huge issue and will really put a dent in the economy.



.
 

jjking42

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I would cancel the reservation and bank the points with II or try for another reservation that might rent. I would issue a refund in the form of future travel credit. Try to form a personal relationship with the renter let them understand that you don’t have to but are willing to help them because you hope they will rent from you in the future.

It’s sucks that RedWeek but you in this bind but the one advantage is if you can talk directly to the renter yet you can form a relationship and have a client for life .

I don’t rent my weeks anymore but I used too. The hassle to profit ratio is not high enough anymore. But I had some renters that used to come back ever year when I did and if you can get a client like that it’s great


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CalGalTraveler

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Problem with travel insurance is that most policies won't cover epidemics. So even if location was affected they would not be covered. All reasons coverage is cost prohibitive and sometimes doesn't cover the full cost of the refund. It sucks that you have to buy the policies to read the fine print and have to hassle to return and shop around reading all the fine print in the policies.
 

Tacoma

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As a person who occasionally rents out a unit and travels a lot myself I know that some things are not refundable. That's why they get a good deal upfront. There is cancellation insurance for those who want to buy it. I have a cruise to Alaska booked early June. Even though I know I can cancel the cruise there are other components of the trip booked that I likely can't cancel. My loss. This may be one time where planning in advance costs me more money but that is my problem. Life happens and sometimes it costs you if they can afford a holiday at Harborside they can afford the hit on the very reasonable accommodation costs that you provided.
 
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