Refunds are essential to the vacation rental experience – things don’t always go as planned, and you and your guests must be prepared.
Here are a few things to remember while dealing with refunds:
- Refunds should be processed based on your cancellation policy, usually within the Rules & Policies section of your account. This ensures a consistent and transparent process both you and your guests.
- Currency exchange rates may affect the refund amounts, so it’s important to be aware of potential discrepancies and communicate these to your guests.
- Offering various payment options, such as bank transfers, eChecks, and mobile app payments, can make it easier for guests to receive their refunds.
Solving For When You No Longer Have the Original Form of Payment
Refunds are issued back to the original form of payment. But what happens if the card expires, was lost, or for any other reason, you no longer have access to the original form of payment?
When you no longer have the original form of payment, don’t panic! You should still attempt to process the refund through your rental platform dashboard. The guest’s financial institution may work magic and credit their account or even provide a check through their reconciliation process.
Recognizing that Bank-Issued Exchange Fees May Not Be Refundable
If you need to cancel your reservation, keep in mind that processing fees and bank-issued exchange fees might be nonrefundable. Always review the cancellation policy and contact customer service for clarification if needed.