Airbnb Cancellation Policy

[Patrick Fluss]

Recently I have noticed a lot of guests canceling their reservations close to their check-in dates. I have always kept our cancellation policy on moderate (full refund 5 days prior to arrival), in order to encourage guests to book far in advance. What cancellation policy do you use? Has anyone noticed a drop in advanced bookings if using the firm or strict policy?

Thanks in advance for any insight!