Cancellation & Refunds Policy

1. Scope and Application

1. This Cancellation and Refund Policy applies to all properties listed on The Grand Key website, whether such properties are:
   • Fully managed by The Grand Key
   • Marketed and booked exclusively by The Grand Key
   • Advertised by The Grand Key on a non-exclusive basis and also listed or managed elsewhere
2. By making a booking through The Grand Key, the guest agrees that this policy governs all cancellation, refund, amendment, and re-letting matters, regardless of the ownership or management structure of the property.
3. This policy shall be read in conjunction with the Guest Terms and Conditions, the applicable Homeowner Terms and Conditions, and any Management or Marketing Agreement in place for the Property. In the event of inconsistency, the Guest Terms and Conditions shall prevail as between The Grand Key and the Guest.
4. This policy forms part of and is incorporated into the Booking Conditions applicable to each booking.

2. Definitions

For the purposes of this policy:

• “Booking” means a confirmed short-term licence or letting arranged through The Grand Key.
• “Accommodation Fees” means the rent or licence fee payable for the stay, excluding booking fees, service fees, administrative charges, taxes, and payment processing fees.
• “Check-in Date” means the scheduled commencement date of the stay.
• “Deposit” means a partial, non-refundable or conditionally refundable advance payment required to secure a Booking, as described in Clause 5.

3. General Cancellation Principles

1. All cancellations, whether initiated by the guest or the host or owner, must be submitted in writing to The Grand Key booking team.
2. A cancellation is not effective until acknowledged in writing by The Grand Key.
3. All cancellation periods are calculated by reference to the scheduled Check-in Date or, for long stays, the commencement of the licence or lease period.
4. Booking fees, service fees, administrative charges, and payment processing fees are non-refundable, unless expressly stated otherwise in writing.

4. Statutory 24-Hour Cooling-Off Rule

Where a booking is made more than 7 days prior to the Check-in Date, the guest may cancel within 24 hours of the dispatch of the Confirmation of Booking and receive a full refund of Accommodation Fees, provided that:

• The cancellation request is submitted in writing within the 24-hour period; and
• The stay has not commenced.

This provision does not apply to bookings made within 7 days of arrival.

5. Deposits and Payment Structure

1. Deposit Requirement
   Most bookings require a deposit at the time of booking to secure the reservation. The deposit amount and timing will be clearly disclosed prior to confirmation.
2. Standard Deposit Amounts
   • Standard and Long-Stay Rates: typically 30 percent to 50 percent of the total Accommodation Fees.
   • Flexible Rate bookings: 10 percent deposit at the time of booking.
   • Villas, chalets, and high-value seasonal bookings: deposits of up to 50 percent may be required.
3. Effect of Deposit
   • A booking is not confirmed until the required deposit has been received and cleared.
   • Where a booking becomes non-refundable under this policy, any deposit paid is applied toward the total amount due and is not refunded.
4. Balance Payments
   • The remaining balance is due by the date specified at booking, typically between 14 and 60 days prior to Check-in, depending on the property and rate type.
   • Failure to pay any balance when due constitutes cancellation by the guest, and cancellation charges apply immediately.

6. Standard Cancellation Terms

A. Standard Rate

(Home Collection, stays of 60 nights or fewer)

Applies to standard home bookings in London, Los Angeles, and Sydney for exclusive homes.

• Cancellation more than 14 days before arrival: 50 percent refund of Accommodation Fees.
• Cancellation 14 days or less before arrival or no-show: No refund. The full Accommodation Fees remain payable.

B. Standard Rate

(Paris and Los Angeles non-exclusive homes)

• Cancellation more than 14 days before arrival: 50 percent refund of Accommodation Fees.
• Cancellation within 14 days of arrival or no-show: No refund.

7. Flexible Rate

Available only for select homes in London, Los Angeles, and Sydney for stays of fewer than 30 nights.

• Cancellation or amendment up to 5 days before arrival: Full refund of Accommodation Fees.
• Cancellation within 5 days of arrival: No refund.
• Deposit: A 10 percent deposit is required at booking and is applied toward the total amount due. If the booking becomes non-refundable, the deposit is not refunded.

8. Long Stay Rate

(Stays of 60 nights or more)

Applies to long stays in exclusive-home markets including London, Paris, and Los Angeles.

• Cancellation more than 14 days before arrival: 50 percent refund of the first 60 nights.
• Cancellation within 14 days of arrival: The first 60 nights are non-refundable.
• Cancellation during the stay: The guest may terminate the stay by providing at least 30 days’ written notice. Nights beyond the first 60 nights are refundable subject to the notice period. The first 60 nights remain non-refundable in all circumstances.

9. Villa and Chalet Bookings

Applies to villa and chalet properties including destinations such as Rome, Florence, Milan, and comparable locations.

• Cancellation 90 days or more before arrival: 50 percent refund of Accommodation Fees.
• Cancellation within 90 days of arrival or no-show: No refund.

10. New York Long-Stay or Lease-Style Bookings

• Written cancellation notice must be received no later than 90 days prior to the lease commencement date.
• Where cancellation occurs within 90 days of commencement, the host or homeowner may retain the security deposit and any other amounts permitted under the applicable lease agreement and local law.

Additional Terms Applicable to All Bookings

11. Re-Letting and Mitigation

Where a booking is cancelled and The Grand Key is able, at its discretion, to re-let the property for all or part of the cancelled period, a partial refund may be considered.

Any refund will be calculated after deduction of:

• Applicable cancellation charges
• Any difference in rental rate achieved
• Administrative, marketing, and operational costs

Re-letting is not guaranteed and does not create any entitlement to a refund.

12. Exceptional Circumstances and Discretion

Any refund, credit, or concession granted outside the strict terms of this policy is entirely discretionary, does not create precedent, and is assessed on a case-by-case basis.

13. Force Majeure

The Grand Key shall not be liable for refunds where cancellation arises from events beyond its reasonable control unless occupation of the property is rendered legally impossible.

Force majeure does not include:

• Fear of travel
• Airline or transport disruption
• Changes in personal circumstances

Where force majeure applies, The Grand Key may offer a credit in lieu of a refund at its discretion.

14. Amendments and Changes

Requests to amend booking dates, duration, property, or guest details may be treated as cancellations where they materially alter the booking. All amendments are subject to availability and revised pricing.

15. Host or Owner Cancellations

Where a host or property owner cancels a confirmed booking, The Grand Key will use reasonable efforts to offer alternative accommodation or provide a refund of amounts paid for the affected stay. The liability of The Grand Key is limited to the sums actually received by it in respect of the cancelled booking.

16. No Waiver

Any waiver, goodwill gesture, or deviation from this policy does not constitute a waiver of any other rights and does not create precedent for future bookings.

17. Governing Law

This Cancellation and Refund Policy is governed by the laws applicable to the location of the booked property. Different legal frameworks may apply to lease-style or long-stay bookings, which will be disclosed at the time of booking.