Deposits: On booking, what percentage?

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tavi
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Location: Algarve

Post by tavi »

wow I seem to be lagging behind here...at 20% deposit with remainder (and damage deposit) 4 weeks before arrival.

I don't get many cancellations - maybe one a year over two apartments and deposit is only returned if I manage to let the period.

It does worry me a little - the fact that I now have about 26 weeks booked for 2016 - much earlier bookings than in the past, which potentially leaves more scope for cancellations.
petitbois
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Post by petitbois »

we charge a standard 50% at reservation with balance + security due 3 wks prior to stay - with such a high initial payment we have only had 1 late cancellation in 13yrs (a regular family who had a death in the family)we were lucky that we managed to secure a late booking & the family who cancelled returned this year - we were able to offer them a full refund & accepted a booking for this year at same price - everyone was happy. For early bookers/repeats we take just 10% with a further 40% due at new year.
brightmike
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Location: Brighton

Post by brightmike »

We have a fixed amount booking deposit which is roughly 25% of our average fee.

We then request 50% of the balance 60 days before and the rest 30 days before together with the security deposit. We have had a few comments saying people appreciate the flexible payments.

I would find it hard to justify taking the security deposit 2 months ahead.

The point on contract law is was interesting greenbarn. I have only had one cancellation and I could not re-book so kept the part-paid amount. How would you manage this if using HL or ABB or other 3rd parties? Assuming it could take you some time to re-book and so you would not know at first how much, if any, you would return.

I don't hold bookings at all. It's only booked when the deposit is paid.
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greenbarn
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Post by greenbarn »

brightmike wrote: The point on contract law is was interesting greenbarn. I have only had one cancellation and I could not re-book so kept the part-paid amount. How would you manage this if using HL or ABB or other 3rd parties? Assuming it could take you some time to re-book and so you would not know at first how much, if any, you would return.
No idea I'm afraid! I don't imagine HA, ABB etc are bothered about being within the law as they're above that sort of irritation, and it's only an issue if someone challenges.

I don't have any legal background or knowledge, but I cannot understand how if a third party is claiming that the contract exists solely between the owner and guest they can then impose conditions which remove or reduce an individual's legal rights. Probably the same answer as above!
Essar
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Post by Essar »

greenbarn wrote:
brightmike wrote: The point on contract law is was interesting greenbarn. I have only had one cancellation and I could not re-book so kept the part-paid amount. How would you manage this if using HL or ABB or other 3rd parties? Assuming it could take you some time to re-book and so you would not know at first how much, if any, you would return.
No idea I'm afraid! I don't imagine HA, ABB etc are bothered about being within the law as they're above that sort of irritation, and it's only an issue if someone challenges.

I don't have any legal background or knowledge, but I cannot understand how if a third party is claiming that the contract exists solely between the owner and guest they can then impose conditions which remove or reduce an individual's legal rights. Probably the same answer as above!
No, that's how I misunderstand it too. Logical really! :lol:
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Post by arkvilla »

We take 20% deposit and balance 8 weeks beofre travel, deposit is non refundable
ianthy
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Post by ianthy »

We take 25% deposit with final balance due 6 weeks before the stay inclu the damage/keys deposit.
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