Rental home terms/conditions question

[DisneyMomto3]

Forgive me if this seems to be a silly question. I'm doing the legwork for my parents, who will be paying for this rental. Is this customary?

Fees

A non-refundable Booking Deposit for 20% of the Rental Fee must accompany bookings.
The Balance must be paid eight weeks prior to the commencement of the Rental Period
A Security Deposit of $500/£300 is required with payment of the Balance. The Security Deposit will be returned to the Primary Contact within 21 days after the completion of the Rental Period provided the Owner's management company reports no damage or loss according to 15). The amount of the Security Deposit does not limit the liability of Guests for any damage that occurs.
The payment of any due Fees to the Owner should be made using a single transaction that covers all Guests rather than multiple transactions for shares of the payment from individual Guests.
Cancellation

To cancel the booking the Primary Contact should advise the Owner immediately by telephone and follow up with a Written confirmation. The Owner shall be entitled to retain all payments already made (except for the Security Deposit) and to recover, if not already paid, the balance of the Rental Fees as follows:

1. For Holiday period reservations (those covering New Year's, Good Friday, Easter or Christmas Days):
   • 20% Booking Deposit only with more than 120 days notice
   • 50% of the Rental Fees with 90 - 120 days notice
   • 100% of the Rental Fees with less than 90 days notice
2. For non-Holiday period reservations:
   • 20% Booking Deposit only with more than 90 days notice
   • 50% of the Rental Fees with 60 - 90 days notice
   • 100% of the Rental Fees with less than 60 days notice

If the Owner is able to find a replacement booking for the same Rental Period, then only the Booking Deposit will be retained.
In the unlikely event that circumstances beyond the Owner's control necessitate the cancellation of a booking, the Owner reserves the right to cancel any booking at any time. The Owner will refund fees already paid by the Guests and will not be held liable for any consequential costs that may be incurred directly or indirectly.
THE BOOKING DEPOSIT IS ABSOLUTELY NON-REFUNDABLE. PLEASE DO NOT ASK FOR A REFUND.
TRAVEL INSURANCE IS THE BEST WAY TO PROTECT YOUR TRAVEL AND ACCOMMODATION PAYMENTS AND WE STRONGLY RECOMMEND THAT YOU TAKE ADVANTAGE OF THIS AFFORDABLE OPTION.

I get that the owners likely have a mortgage and have to protect themselves from non-payment and cancellations and things, but what if, heaven forbid, we had a death in the family or something? We'd just be out? And do you recommend travel insurance as the owner advises?

Or would you keep looking? I'm cross-eyed. Please help.

 

[JANNYANS]

I think most owners will say the deposit is non refundable as they have no real chance of a walk in replacing a lost booking unless it was a real long way out and then they make have to pay fees so you may not get the whole amount back .Insurance is almost a must in these circumstances in my book so please consider it .

 

[Jana49]

My DH and I stay in vacation homes often. The contract you have is standard. As the other poster said, please get insurance to protect yourselves. The odds are in your favor that you'll get to go, and have a great time, but still.

 

[sympatico]

We always get cancellation insurance when renting a vacation home because as you said an emergency could happen. Try insuremytrip.com . You can compare companies and find out which has best, cheapest etc.

 

[Freaky]

The conditions look pretty standard but as others have said I would highly recommend taking out trip insurance

 

[LIIRISHMAN]

The night before We were scheduled to leave (wife+ 4 Children) I was rushed to the hospital and admitted to the CCU at the hospital unable to catch my breath. It turned out to be a Pulmonary embolism that required a 8 day stay. I had already given the owners the rent of $1500 the week before. They were nice enough to allow us to rebook without charging a fee. I was dealing with the owners themselves. When you're dealing with an angency they are less forgiving and you might lose all of your money. As others here have stated take out insurance especially if you have family members with a chronic illness.