Airbnb gives you the opportunity of choosing a cancellation policy. I have chosen a strict cancellation policy which, per their terms, means a ‘full refund’. A woman booked my house many months ago at a heavily discounted price for this week. I received a message from Airbnb today stating that they cancelled her reservation today as she didn’t complete the payment. When I called (the email had zero explanations and was automatically generated) they stated that they would pay me only $800 (payment due was $2450) as she didn’t pay in full. Essentially, even if you have a strict policy and no privity of contract with the ultimate guests, Airbnb asks the hosts to carry the burden of their credit risk. Of course, customer service is anonymous and miserable and they refused to connect me to their legal team to explain to them why their cancellation policy is currently wrong and misleading.