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Prepayments for properties in southeast Europe - any experience?

Hi, we just started managing a small property in Montenegro. Previous manager set up booking.com extranet to be very lenient regarding cancellations. It is cash only property, had a 1 day free cancelation policy... So basically, anyone could book with no worries about cancellation fees, etc.

 

I made some changes, including 14 day cancellation window, but really want to get better feel for what is ideal in this part of Europe. For instance, if I force prepayment, does that tend to detract people? Does anyone have experience, tips?

And since we don't have credit card terminal (yet), what sorts of electronic payment options are common in this part of the world?

Thanks!

2 Replies

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Thuild - Your …

Dear Elena,

Here is what you should do and what works best for the region:

- 3 day cancellation window

- apply prepayment too

- apply (when you have the POS) pre-autorization

Because this region of the world sucks (worst guests), you must be strict about everything.

Best regards,

Zsolt - www.thuild.com

7 months ago
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Elena 81 Spb

Thanks for the advice. We don't have POS yet. Also booking.com told us at first we won't even have access to the credit card details until there have been confirmed stays, reviews. So at first we have to be a cash property.

For prepayment, do you think there are electronic payment methods that are common enough in this region, like paypal?

thanks!

7 months ago