Cancellation policy for Paris apartment rental?

When you rent an apartment listed on HomeAway (or VRBO or AIrBnB), the cancellation policies are set by the person listing the apartment. Generally speaking, apartments have less flexibility for cancellations than hotels. The last time that I rented an apartment in Paris, in 2011, the cancellation policy was as follows: "30-50% of the total rent amount is due upon reservation – non refundable.
The balance is due on arrival or within 30 days prior to arrival– non refundable along with fees and taxes." I rented the apartment for almost two months so I had to send a large amount of money to the landlord almost one year before the trip. Get travel insurance just in case because most cancellations are caused by unplanned events.

Just as you need to cover your bases, so does the renter (Homeaway) in case of cancellation.

An apartment is not like a hotel. If they lose the tenant at the last moment they are out sizable income that they depend on. It is not easy to relet an apartment as people tend to line them up well in advance. So if you need flexibility then book a hotel or apartment/hotel that allows you to change plans with short notice. With an apartment you generally pay at least 50% of the rent on booking and in most contracts that is lost if you don't arrive regardless of the reason. In most contracts you owe the entire amount i.e. 100% if you cancel with less than 60 days notice and many apartments require that amount to be paid by 60 days. Others require 50% and then collect the final 50% on arrival.

If there is any question have travel insurance and be sure that the insurance covers apartment rental. Of course those only pay if there is a reason like a health crisis. If you are not committed or have a work situation where a vacation could be canceled at the last minute then don't book an apartment.

I have rented an apartment in Paris.. and the cancellation policy was half a weeks rental if cancelling within a month,, unless they are able to rerent the apartment. I thought this was fair because as posted.. they would lose a lot of income and its not like a hotel with walk up guests available to rent to ..
I don't think it has anything to do with Paris in particular as here when we rent a ski chalet the cancellation policy is much more severe..

Many hotels have much easier cancellation policies. I usually reserve ones that allow no penalty cancellation within 2 -=3 days.. and only one night penalty otherwise..

Pros and cons to renting apartments compared to hotels.

Thanks All...I will most likely end up getting the trip insurance. We've been to Europe several times and never done the insurance, but it is an excellent idea. Thank you.

Yep, it's sure a good idea if you're taking the apartment route instead of hotel route, in Paris. (because of the City's crackdown on "unofficial" apartment renting, not because of the terrorists).
I've never gotten trip insurance (except medical), but I think you have to buy the insurance before or at the same time as you make your reservations. I'm not sure that's right, but that's my recollection from past discussions--that there is some kind of time limit on when you have to buy the insurance.

Most trip insurance has to be purchased within a few days of the first money you pay -- so if you rent an apartment a year out and make a deposit, your trip insurance has to be booked and payed then. I have no idea if they actually pay out apartment rent if you miss the trip -- it would be interesting go have someone share their experience of that. I know they can be fabulous with a health crisis.

Janet, thanks for the confirmation on the timing of when you have to buy the trip insurance!
And I, also, was wondering: does the insurance pay for apartment rent that you forfeited?

Actually, the requirement to buy trip insurance shortly after your first payment for any part of the trip (usually within 7 to 10 days) is merely to avoid a "pre-existing conditions" clause. You may still buy trip insurance at a later time, but the insurance company may decline a claim if they determine that a pre-existing condition existed. For example, a medical condition that you knew existed, but was under control at the time of booking, may become worse and force you to cancel. In that case, the insurance company will call that a pre-existing condition and refuse payment. So it's very, very desirable to buy the travel insurance within the waiver period, usually 7 to 10 days. But not absolutely required, if you're willing to take a chance with the pre-existing conditions clause.

Bob, thanks for the clarification on that.

As to whether the insurance pays out for the forfeited rent that has been paid, the answer in my case is yes. In connection with a rental in Provence, I paid $191 for insurance from CSA. The rental would have cost approximately US$4,600 and I paid a deposit of approximately $2,300 almost 6 months before the rental period. Anyway, a major medical emergency arose with respect to my step father. Submitted the claim for the deposit that I forfeited when I cancelled and CSA paid the amount of the deposit without any problems.

Stephanie, here is the page about insurance from the HomeAway website:

http://www.vacationprotection.com/?aff=vpharenter&tab=Overview&utm_source=HA&utm_medium=site&utm_term=201305&utm_content=vacationprotection&utm_campaign=howitworks

I rented through VRBO (an associated company) and did buy the insurance. Luckily I never had to use it but it was worth it for the peace of mind.

Maybe I am just cynical or maybe it is because I am old, but I am thinking that given the reputation of insurance companies for avoiding expensive payouts that most things that would be likely to cause a miss would be deemed 'pre-existing' when push came to shove.