It's very difficult to hold a week for a guest who is trying to decide whether or not they're ready to commit to booking your property. You never know whether or not they'll call or email, and decide against renting your property. Remember you may very well be turning away valuable bookings while they are wavering. While it's understandable that a potential renter has to run it by their spouse or friends who are traveling with them, you cannot bank on their uncertainty.

My basic policy is:  “Nothing is booked until I have money in hand.”  I very nicely tell potential renters that the deposit is the only thing that can hold a reservation.   During this holding period, if another potential renter inquires, then I would contact the person you are holding for, and  give them the first right of refusal.  But if you cannot get a hold of them and you have someone in the wings willing to commit, then go for the ones with the money in hand.  © Christine Karpinski 2006

Christine's Blog: Vacation Rental Booking Dilemma (12/18/06)    Christine deals with the dilemma of holding time at one of her vacation rental properties for a renter. When should you make exceptions?