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You have the ability to define unique and/or more specific cancellation policies that will apply to Vrbo. This can be found under the Set-up > OTA Content → Vrbo Cancellation Policies section.

MyPMS Documentation > Vrbo Direct Connection - Cancellation Policies > vrbo_cxl_policy_mypms.png

Please note that when cancelling a reservation within MyPMS for a Vrbo reservation, you can define "Cancellation Initiated By", which includes: Property, or Guest. The pulldown menu is as follows:

MyPMS Documentation > Vrbo Direct Connection - Cancellation Policies > Screenshot (745).png