An economics lesson

[vacation_rentals_suck]

Guest: yea Dave, we are coming in a few weeks and we rented this place and we feel like we have been charged more than the market price of that house given current economic conditions and we need a rate reduction

Me: I am not able to do that

Guest: then I want to cancel

Me: you're within the cancellation period, if you cancel, there is no refund

Guest: Dave, thats illegal

Me: how is it illegal, sir?

Guest: because you charged me more than market for the rental and I am entitled to a refund of the difference or a full refund if you wont match the market price

Me: no, you agreed to that rate, sir, you are locked in

Guest: Dave, I am an economics major and I dont expect you to understand this since you dont sound very bright but when the market price lowers, you need to lower your price if you want to keep customers.

Me: I have a college degree, sir

Guest: dont get sarcastic with me

Me: well dont get sarcastic with me

Guest: excuse me but I am a customer.....if I want to get sarcastic with you, I will get sarcastic with you and you'll keep your mouth shut

Me: ok CLICK

He called back furious at my coworker saying how he was going to get my fired and he would make sure I never got another job because I insulted him. Asshole.

[vacation_rentals_suck]

I meant to call this thread "an economics lesson"

[JLRodgers]

....
Me: you're within the cancellation period, if you cancel, there is no refund
....

Curious... but was that a typo? Just wondering because it just seemed strange that if you're within the cancellation period you can't cancel without a refund (it would seem that would be when you could cancel with a refund).

[Soulstealer]

Guest: Dave, thats illegal

Me: how is it illegal, sir?

Guest: because you charged me more than market for the rental and I am entitled to a refund of the difference or a full refund if you wont match the market price

Me: no, you agreed to that rate, sir, you are locked in

Guest: Dave, I am an economics major and I dont expect you to understand this since you dont sound very bright but when the market price lowers, you need to lower your price if you want to keep customers.

He may be an economics major but he's no lawyer.

Speaking of which, I know several of my polisci professors who would scoff at the economics department. Good times.

[chocoBug]

i HATE customers like that; they think theyre so much smarter than you and they dont mind showing it. and its like, if your so educated, and rich and almighty, how come you lack any basic form of manners? Was it your unfortunate parents fault that you lack politeness, or was it a nasty tick that grew in your hair over time?

BLEURGH! I get this one quite a lot!

[joe hx]

someone needs to tell him that the "law of supply and demand" is not an actual criminal law...

[bainsidhe]

Isn't it also simple economics that businesses try to stay profitable? Even with THE ECONOMY being what it is, certain set cost don't change. You still pay taxes, payroll, insurance, etc. Did this guy rent his vacation spot more than a year ago? If not, surely an economics professor would have seen the downward spiral of the economy and looked for discounts before signing a contract. Just sayin'

[CrazedClerkthe2nd]

Either dave meant to say "you're NOT within the cancellation period" or he was referring to the period of time before the trip within which if you cancel, you get no money back. If you cancel outside of this period, you usually get a refund minus whatever initial deposit you may have put down.

[Reyneth]

Did this guy rent his vacation spot more than a year ago? If not, surely an economics professor would have seen the downward spiral of the economy and looked for discounts before signing a contract. Just sayin'

Yup. Exactly why my mom and I have our eyes on about 25-30 places that potentially have availability for a week during the 3-week time period we want to go. Wait until the last minute, get a good deal.

But although we both went to college, neither of us majored in Economics so maybe we're doing it wrong.

Hmmm, nope. The SC in the OP did - especially by bitching at someone else for the choices he made himself. They never learn.

[WhiteRose]

I MADE A CRAPPY CHOICE! YOU GOTTA REFUND ME FOR BEING AN IDIOT!!

[South Texan]

Guest: Dave, I am an economics major and I dont expect you to understand this since you dont sound very bright but when the market price lowers, you need to lower your price if you want to keep customers.

I always find it so fun to see people who know something about subject try to twist what they know to mean something else.

This guy stated a good economics business principle, but hit chronic failure when he tried to twist that principle into a statutory law.

If VRS's employer or the owners wants to charge fifteen times the market rate for those villas, THEY HAVE THE RIGHT TO DO SO in a capitalist society. They may go broke, but they have the right to do it. If a guest agrees to pay the asking price to stay at a villa, the guest has the right to blow his money BUT is bound by whatever contract and terms the guest agreed to.

I LOVE it when customers make up laws to go along with whatever they want!

[Peppergirl]

It's common in the travel industry to say "you are within the cancel policy" if someone has passed the date of cancel, and "outside the cancel policy" if you're calling in time to cancel.

I know it's weird...just a little quirk we all tend to do. Some of the hotel people (Smiley?) might be able to explain it better.

[csquared]

Guest: Dave, I am an economics major and I dont expect you to understand this since you dont sound very bright but when the market price lowers, you need to lower your price if you want to keep customers.

He said that he is an economics major. He never said that he took or completed any of the courses.

[crashhelmet]

He said that he is an economics major. He never said that he took or completed any of the courses.

Or what his GPA was, but I think we figured that out

CH

[smileyeagle1021]

I know it's weird...just a little quirk we all tend to do. Some of the hotel people (Smiley?) might be able to explain it better.

explanation on why we say it that way.
I can't speak for all hotels, but with the system we use, if you call "outside the cancellation period" we delete the reservation and make it as if it never existed. As far as the billing system is concerned, your reservation never existed... it's deleted, not 'canceled' so to speak. If you call "within the cancellation period" the billing system does recognize the reservation as having existed and being canceled and therefor needs to be charged.