LBNB E-BOOK || CHAPTER 3
GETTING STARTED IN HOLIDAY RENTALS
Chapter 4A
T&CS Discover how a Terms and Conditions document should be set up, and what should be included. Here’s an example of how you might set up the document: https://docs.google.com/document/ d/132lKJldnlDUBJBVRjV-ijNZ2ZrNIhCl7qYx4BPaJM8/ You should include the following sections within your terms and conditions document:
For each issue in 2021, we will be serialising a section of our Luxury BnB E-Book for those looking to set up their own hospitality business. By Abbey Warne and Dominic Johnson
Welcome to Chapter 4A which will introduce you to the rental periods, terms and conditions and payment processes which are involved in setting up a Bed and Breakfast. This chapter takes you step-by-step through deciding on rental periods, putting together terms and conditions, and the payment process, such as deposits.
Contents: 1A: Intro to holiday rentals 1B: Intro to financial considerations 2A: Business Plans & Legal Entity 2B: Further Financial Considerations 3A: Operations - Provisions, Access and Storage 3B: Interiors - Furnishings and Tech >> 4A: Booking operations 4B: Management - staff & planning 5: Checklists
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1. Disclaimer • This is a statement that denies something, such as responsibility. 2. Cancellation Policy • Outlines the cancellation terms. • Outlines the amount of money the booker will or will not be refunded if the booking is cancelled up to a certain time. 3. Responsibilities of the tenant • This will include what the tenant is responsible for during their stay 4. Liability of manager / owner • This should mention what they are legally responsible for. 5. Payment terms and deposits • Outlines payment schedules and how much deposit is needed when. 6. Complaint process • Outlines the process through which a tenant may make a complaint. 7. Pet, child and any other policy • Outlines the policies on above (e.g. guidelines, requirements, bans) • Whether there will be any fines for breaking policies. 8. Your contact information • How the tenant should contact you if they run into issues or have any queries, for example. Other things to consider: • If you are planning to use OTAs (Outside Travel Agencies) to find bookings, consider how their T’s & C’s align with yours. • Some OTAs offer fantastic cancellation policies but that might leave you with little time to fill the cancellation. • Consider sending out a welcome email with each booking highlighting the key terms and conditions. www.luxurybnbmag.com
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