Help & FAQs for owners
What happens if a booking is cancelled?
Bookings are either cancelled by a property manager or by a guest.
Cancellations by the Property Manager
In this instance we will have normally taken a 25% deposit and this will be refunded to the guest without question. Or, alternatively, the payment will be moved over to a new booking. Guests who receive a cancellation will often want to rebook a new apartment, so we will need to refund/cancel their payment ASAP.
The commission on the cancelled booking will still be payable by the property manager to Reserve, to cover the admin costs and time involved for us dealing with the cancellation, sourcing alternative accommodation for the guest and the damage caused to our reputation by having to cancel a booking made with us.
Cancellations by the Guest
In this instance we will retain our commission on the total value of the booking, and will hold/transfer funds taken by us to the property manager in accordance with the terms and conditions in place for the property.
We usually take a 25% deposit for bookings, so if a booking is then cancelled by the guest we would retain our commission (10% +VAT) and forward on the remaining 13.25% to the property manager, if this is in accordance with the terms and conditions agreed to by the guest at the time of booking.
To cover your losses as a result of cancellations we suggest asking for the full balance of the booking at least 6 weeks before the guest's arrival.