VRBO Updates Cancellaton Policy With...Penalties for Hosts?

Big changes with VRBO's cancellation policy and Premier Host ProgramIf the host cancels a booking 48 hours before the stay, they will be charged 50% of gross booking value — that’s the most harsh penalty. If it is canceled between 30 days to 48 hours prior, the penalty is 25%; prior to 30 days, the penalty is 10% with a minimum of $50. Hosts can get a waiver for unavoidable cancellations, such as those attributable to natural disasters. Vrbo confirmed that, for now, only hosts in the U.S. will face the penalties. Updates to eligibility requirements for the Premier Host program will start January 2024. The new requirements aim to make the program more exclusive, by only admitting hosts with an average overall rating of 4.4+, those whose initiated cancellation rate is less than 1%, and those whose booking acceptance rates are 95% or higher. Thoughts? Join the Facebook Group.Connect with Me: john@vacationhomehelp.comThis episode is brought to you by the Vacation Rentals with John Newsletter my very own email newsletter every Friday that features 4 bullet points highlighting cool things I found this week in the short term rental world including apps, books, tech, new hacks, tricks, articles, and other weird but interesting short term rental stuff of value that I stumbled upon. It's free and will always be free. You can subscribe here.