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Managing booking policies

The Booking Policies feature provides a powerful and time-saving suite of management tools. Set basic policy rules to apply across your properties, set defaults for building quotes, control when and how to use instant bookings and set custom refunds for reservations booked through HomeAway, Airbnb, and Booking.com.

When combined with setting Payment Schedules and Refund Policies they can further streamline your property management experience. 

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Default booking policy

Navigate to Setup > Booking & Payments > Booking Policies.  One booking policy is already in place and set as default. MyVR has created a policy with settings that are frequently used. Keep this as your default policy or click the edit button to change the settings to your default policy.

Keep in mind, the account will revert to the default settings whenever another policy is not specifically selected.

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Booking Policy - Basic Settings

Once on the booking policy main page, edit a current policy by clicking on the policy or click on the green Add A New Policy button. There are four setup tabs (see locations in the screenshot below). 

Basic Settings: These settings impact both manual quotes and online booking.

  • Policy Name: Name each policy created to easily distinguish it from others
  • Merchant Account: Associate a specific merchant account with a specific booking policy (see Setup > Bookings & Payments > Merchant Accounts). If only one Stripe/merchant account is established, any policy created will automatically default to it.
  • Automatic Payment Processing: Toggle to "Yes" to automatically process rental payments on the due dates established. A credit card must be on file for the renter for this to apply. This can be entered by the renter directly on the renter payment page or it may be manually entered on your side in the renter's reservation.
  • Require Renter Address: Toggle to "Yes" if the renter's address should be required upon booking
  • Require Renter Phone: Toggle to "Yes" if the renter's telephone number should be required upon booking

Be sure to click on the Create Policy button appearing at the bottom of each tab to save any changes, including incomplete policies that will be updated or completed at a later time.

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Booking Policy - Quote Defaults

Quote Defaults: These settings are used to set the default starting point for all quotes and reservations created manually.

It's easy to change the quote details when building a quote. Optimize the quote creation process by creating defaults as a booking policy.

Use the Advanced Options drop-down menu to see the current settings from quotes and reservations and keep or change them for a particular policy.

  • Online Booking: Toggle to "Yes" to offer the option to include "Book Now" in quotes, allowing renters to agree to the booking terms online
  • Online Payments: Toggle to "Yes" to collect and process payments online if the renter opts to book online
  • Expire Quotes: Set the number of days that a quote can remain open until it expires
  • Hold Dates: Set the number of days to hold the property quotes until it is canceled or expired
  • Automatically Change "Status" to Reserved: Choose which event taken by the renter will move a reservation entry to a "Reserved" status

Be sure to click on Create Policy or Save Changes after updating these settings.

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Booking Policy - Online Booking Defaults

Online Booking Defaults: This establishes the default online booking settings for the policy.

  • Allow Booking Requests: Toggle to "Yes" if renters should be able to book online. A merchant account must be established for this feature
  • Use "Quote Default" Settings: Toggle to "Yes" to allow online bookings to use the same settings as Quote Defaults

Use the Advanced Settings drop-down menu to display specific instant booking options:

  • Min Booking Date: Select the threshold of how close to the renter's check-in date you will allow them to book instantly online
  • Max Booking Date: Select how far in the future a renter can book online using instant bookings
  • Automatically Approve: Toggle to "Yes" to allow instant bookings to sidestep a manual approval process (by default, an attempt to book online requires approval before the reservation is in a official "reserved" state).  By selecting "Yes" renters can make a reservation without requiring any additional actions required from the property manager.

Be sure to click on Create Policy or Save Changes after updating these settings.

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Booking Policy - Channel Overrides

For bookings received directly from a HomeAway, Airbnb or Booking.com listings, select a refund policy that matches up with the options on those sites. MyVR defaults to "no refunds", but that may be updated here.

Be sure to click on Create Policy or Save Changes after updating these settings.

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