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That's not the same. You were "out" the revenue from that month and because it was so late, you were unable to rent it out and make your money from someone else. And when you do charge someone that month, they are entitled to the use for that month.
This is typical in any professional service. My dentist, doctor, physiotherapist, etc all do this as standard practice. 24 hours cancellation notice required. These businesses usually have waitlist and can fill the time given the 24 hours.
And these services typically waive the first no show fee and only charge if customer continually ignores or doesn't have decent excuse. The cancellation fee isn't to cover the entire revenue, just cover costs. Physio was $65/hr and no show fee was $40, for example. My doctors office has a sign saying $50.
But again, 1&1 is not out any revenue or services when you cancel, transfer or just don't renew. That's a big difference.
Whichever way you look at it, the bottom line is:
you sign a contract with clearly defined cancellation terms. Then you breach them and think it's fine - because you don't think the contract is (was) fair.