Late Balance

[debk]

I'll change that right away.

Me, too. In writing my earlier note I found that one version of ours is missing the teeth. Gack!

Yet another great benie of hanging with LMH... keeps myself on my toes.
debk

[Alan Knighting]

Sorry folks, maybe I’ve got it wrong.

I charge a 25% deposit on receipt of a booking. That means I take my property off the market for the week involved, I don’t try to sell it to anyone else.

It’s 25% of the rent, not a returnable deposit for people who change their minds later on. If they do change their minds later on that’s their problem unless I manage to re-sell the week in which case they get their deposit back.

The 75% balance is payable 6 weeks before the occupation starts. If it’s not paid I will try to re-sell but if I can’t they’re not going to get their deposit back. If they turn up on the day without having paid the balance and the property is empty they get in – after they have paid the balance in cash.

Am I a toughy fluffy?

[Giddy Goat]

No, just a wise Guy! I agree - would even go further though and require the balance 8 weeks in advance of arrival date, as others have also suggested Fluffs. Not necessarily for you, as you've been in the business ten years, and markets do vary a bit perhaps - but as a general rule of thumb it's not a bad idea: it certainly gives one more of a chance of letting the property - esp if the date is outside school hols.

[debk]

Nope, you're still a Fluffball.

I think many of us are on the same basic page with fairly minor differences in %ages, timings, fees, etc.
debk

[Alan Knighting]

GG,

A wise guy? I wish!

When we first came to France Joan's command of French was not quite perfect. In describing me she often used the translation of “retarded� as opposed to “retired�. Trouble was I got lots of nodding heads saying “Oui, il est évidemment retardé�. Who’s to say they’re wrong?

Fluffy

[Mouse]

Its very frustrating when 'guests' decide to ignore your T&C's on the final payment and damage deposit.
I had this type of situation in the summer where I was waiting for the final payment to be made and she only managed to get it into our account the day before she was due to arrive. Even tho' she had 'promised' me several times she would be doing it 'that day' and subsequently didn't. Some people will push you to the enth degree.

Its a double edged sword though - do you immediately cancel their holiday if they fail to make your deadline (as you would if you were running a business) - then have the extra hassle of finding a replacement booking? Or be patient and hope its a positive outcome. For us - the guest in question will book again with us this year.
Thankfully we've yet to suffer from a cancellation.

As an aside......how much do you all take to confirm a booking? I take 50% of the full cost (and thats common on the island) - so I would hope that most guests wouldn't want to run the risk of losing half of their money.

Mouse
x

[Fraise]

I take 25% which is about average for France.

www.thepetitmanoir.com

[Big Sis..]

Hi Mouse,

I take 50% of the full cost (and thats common on the island) - so I would hope that most guests wouldn't want to run the risk of losing half of their money.

Good for you if you can get it,
I usually take £90 a week [it was £80 last year] whatever the weekly rate.....that would make it about 20% of peak weeks...about 30% off peak.
I would love to get 50% but couldnt see it happening......

[Davy P @ CCA]

Unless I've missed it, no-one has mentioned credit cards. We take many of our deposits by credit card. We retain the credit card details and tell clients we will take the balance one month prior to occupancy, which we do. That way we retain the initiative. It may be possible for the client to stop the payment but none ever has.

[debk]

Hi, Davy - 90+% of our payments are done via online credit card (WorldPay) but I never see the card details.

Love those cards... none of that "check's in the mail" stuff anymore!
debk

[Hells Bells]

I take 25% which is about average for France.

Me too, I'm sure there is a maximum of 25% by law.

[Davy P @ CCA]

Debk, we have a simpler approach. Clients send us their card details spread across 2 / 3 emails for security, or phone the details through.

[Hells Bells]

I use Paypal.

[debk]

I dunno, Davy, it doesn't sound as simple (nor as safe) as letting the guest do it all themselves. I prefer to stay completely out of the process. Color me lazy.

But what we *can* agree upon is that everyone has their own processes that work well for them... and that's one of the beauties of running your own biz.

"Attention to detail" is a nice tagline. Like it.
debk

[Davy P @ CCA]

Debk, thanks for your comments.

Quite a few clients have used the term 'attention to detail' when commenting in our visitors' book, so we adopted it!