When renting out an item, the lender can choose from three cancellation policies: Flexible, Medium, and Strict. Opting for a more flexible policy can help attract more borrowers.
Policies
FLEXIBLE
Cancelled 2 or more days before the rental starts: 100% refund
Cancelled the day before the rental starts: 50% refund
Cancelled the same day as the rental starts: No refund
Example
Example
Rental starts on Thursday.
Cancel on Tuesday or earlier → 100% refund
Cancel on Wednesday → 50% refund
Cancel on Thursday → No refund
MEDIUM
Cancelled 7 or more days before the rental starts: 100% refund
Cancelled 3–6 days before the rental starts: 50% refund
Cancelled less than 3 days before the rental starts: No refund
Example
Example
Rental starts on Monday.
Cancel on the previous Monday or earlier → 100% refund
Cancel between Tuesday and Friday → 50% refund
Cancel on Saturday, Sunday, or Monday → No refund
STRICT
Cancelled 30 or more days before the rental starts: 100% refund
Cancelled 14–29 days before the rental starts: 50% refund
Cancelled less than 14 days before the rental starts: No refund
Example
Example
Rental starts on December 1st.
Cancel on or before November 1st → 100% refund
Cancel between November 2nd and November 17th → 50% refund
Cancel on or after November 18th → No refund
If the lender cancels
If the lender cancels a confirmed booking, the borrower will always receive a full refund, regardless of the cancellation policy.
If the borrower cancels
If the borrower cancels before the rental start date, the refund depends on the cancellation policy selected by the lender.
Manual refunds
Lenders can issue a partial or full refund manually at any time before the rental is marked as returned.
Frequently asked questions
Which cancellation policy should I choose?
Flexible policies may increase bookings, while stricter ones offer more protection. Choose what aligns with your preferences.
Can I change my policy after listing an item?
Yes, you can update the cancellation policy at any time. The new policy will apply to future bookings.