Policies are the guidelines that the guests must abide, for example; you can mention that 'It is mandatory for guests to present valid photo identification at the time of check-in'.
You can also mention that 'hotel rooms should should be used for accommodation purposes only'.
You can also define policies if outside visitors are allowed to visit the guests or not.
(You can define your own policies, above are just the examples)
There is no fixed format of defining the policies, but you should define policies to set the clear expectations with guests and provide them with a pleasant and safe experience.
To update your property's policies, click here