The booking policies feature provides a powerful and time-saving suite of management tools. You can set basic policy rules you want to apply across your properties, set the defaults for when you build quotes, control when and how you want to use instant bookings and set custom refunds for reservations booked through HomeAway and FlipKey.
Your Default Booking Policy
Navigate to Reservations>Settings>BookingPolicies. You will see that one booking policy is already in place. MyVR has created a policy with settings that are frequently used. You can keep this as your default policy or click the edit button to change the settings to your default policy. Keep in mind, your account will revert to your default settings whenever another policy is not specifically selected.
Booking Policy - Basic Settings
When you open the booking policy module that open, after clicking on the green Add A New Policy, you will see four tabs (see locations in screenshot below).
Basic Settings, comprises of choices you will make that affect both manual quotes and online booking. Name each policy you create to easily distinguish it from others.
The Merchant Account feature allows you to associate a specific merchant account with a specific booking policy (see Reservations>Settings>MerchantAccounts). If you have set up only one merchant account, any policy you create will automatically default to it.
Select "Yes" with the Automatic Payment Collection toggle when you want to automatically process rental payments on the due date you have established (this requires you to have a credit card on file for the renter, either one they entered on the renter payment page or one you have manually entered in their reservation).
You have the option of requiring the renter's booking address when the book online with the Require Renter Address toggle.
Be sure to click on the Create Policy button appearing at the bottom of each tab to save any changes, including when you have not completed the policy and want to return to it later.
Booking Policy - Manual Quotes
It's easy to change the quote details when building a quote, but you can optimize the quote creation process by creating defaults as a booking policy.
Booking Policy - Instant Bookings
If you set up a merchant account for instant bookings, the Allow Instant Bookings toggle should be set to "Yes" if you want renters to be able to book online.
Conveniently, with the Use Manual Quote Settings, you can opt to duplicate the policy settings you chose for Manual Quotes for your instant bookings.
Opening the Advanced Settings drop-down menu displays specific instant booking options for you to choose from:
Min Booking Date allows you to select the threshold of how close to the renter's check-in date you will allow them to book instantly on line.
With Max Booking Date you can choose how far in the future a renter can book online using instant bookings.
The Approve Immediately toggle allows 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.
Booking Policy - Channel Overrides
If you receive bookings directly from a HomeAway or FlipKey listing, you will need to choose a refund policy that matches up with the options on those sites. We default to "no refunds", but you can change that here.