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Does anyone have any advice on how to handle fake bookings?  


Don't accept reservations without full or partial payment at time of booking and have a system in place where you can take that money.

Otherwise you will be plagued to death by false bookings and have your inventory blocked out for zero income.

Isle of Wight …

We use Payments by - guests need to pay at the time of booking, just as they would with AirBnB / TripAdvisor / HomeAway or any other system. We don't get fake bookings.