I just found a nasty twist in Airbnb policies. It's called their extenuating circumstances policy and there is one for hosts and one for guests. Basically either side can cancel reservation and override the cancellation policy if they have a good excuse. Even at the last minute.
I had a guy cancel his stay in my apt, at the last minute, and I was counting on that money. He said there was a death in the family. I have no way of verifying it of course, but if it is true that's a tough thing to happen. However I think Airbnb being the massively wealthy outfit that they are should take responsibility for this rather putting the financial burden on the hosts, or guests if it is the other way around. Buyer beware as they say. If you are a guest and you show up for your vacation and find the host isn't there to give you the key, due to a death in the family or some other such circumstance, you are just plain out of luck and and on your own. Another reason to stick with hotels.