Cancelled Vacation Rental Bookings – What happens to the deposit?

This article explains Gulf Coast Vacation Rentals' cancellation policy and what happens if either a guest or the owner requests to cancel a confirmed reservation.

All guests’ reservations secured through Gulf Coast Vacation Rentals are subject to the cancellation policy within the agreed-upon Terms and Conditions, in place, at the time of the reservation. Gulf Coast Vacation Rentals reserve the right to modify the Terms and Conditions at any time.  

All cancellations must be received in writing and are subject to the following penalty percentages of the total rental fee:

Effective January 13, 2022

20% from the initial date of booking up to 61 days prior to the arrival date (the rental deposit is non-refundable).

100% if less than 60 days prior to the arrival date.

Prior to January 13, 2022

20% from the initial date of booking up to 31 days prior to the arrival date (the rental deposit is non-refundable).

100% if less than 30 days prior to the arrival date.

If the guest cancels or we are unable to process the balance they lose their 20% deposit, and the property becomes available to book again.

When a cancellation request is received by the guest, Gulf Coast Vacation Rentals takes immediate action to remarket the home for the canceled dates. Opening the booking calendar and listing everywhere that potential guests are searching, including top online travel agencies (OTA’s) such as Airbnb, HomeAway, VRBO, etc., where applicable. The home will be added to multi-channel campaigns across search engines, display advertising, social media, and targeted email marketing.

In no event will Gulf Coast Vacation Rentals be liable for any losses to the Owner related to the cancellation or transfer. In the event of a guest voluntarily canceling a reservation, Gulf Coast Vacation Rentals, at its sole discretion will determine how a deposit is disposed of.  

Methods of disposal include a full and/or partial refund to the guest, a credit applied to a future stay, or retention of the deposit.  

If the cancellation results in a loss of revenue for the specific rental period, the Owner shall receive any deposit monies retained and will be considered collected rental proceeds.  

Gulf Coast Vacation Rentals shall remit to the Owner the rental proceeds of any reservations arriving the previous month by the 10th of each month. If the entire dates are not rebooked the owner will be paid out a prorated portion of the cancelation deposit for the dates not rebooked. 

When an owner requests to cancel a guest’s reservation, per the existing contract the Owner is responsible for the lost commission. Before the confirmed rental is canceled the owner must confirm in sitting their wishes to have the guest's reservation canceled. Once written confirmation is received the Owner will be asked to pay the lost commission PRIOR to the cancellation of the confirmed reservation. Cancellations result in lost guests and guests' confidence in the vacation rental industry. Owners have access to block time for owner and family member use through the provided owner portal and are encouraged to block off dates even if they think they are going to use the home. Once plans have been finalized, they can open the calendar back up for guest reservations.

Gulf Coast Vacation Rentals may cancel or transfer a reservation to another home if in its sole discretion Gulf Coast Vacation Rentals believes keeping the reservation could materially affect the quality or safety of a guest’s stay. 

In the event, a guest disputes a charge, a credit card company issues a chargeback, or if any funds were disbursed to the Owner by Gulf Coast Vacation Rentals and were subsequently required to be refunded back to the guest, the Owner agrees must reissue said funds to Gulf Coast Vacation Rentals within five (5) business days after notice has been provided to the Owner.