Vacation Rental Glossary
Regularly updated list of commonly used short term rental terms.
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Our growing list of commonly used vacation rental terms to explain confusing acronyms or jargon you might encounter in your hosting journey.
A variable pricing strategy where a host makes frequent adjustments in the price of their property in response to market factors, such as demand or competition.
A pricing condition with specific rates for weekend visits, usually higher due to increased demand.
Feedback from previous guests about a specific property. Reviews are valued by potential guests for a perspective on a vacation rental and are important to attract new bookings.
A notification via email, SMS, or other means to a guest. This usually includes a specific booking reference number, time period, and rate. Additionally can include additional information such as a rental contract and house rules. Also known as a “booking confirmation”
The process of monitoring how others perceive your business and taking action when necessary to address any negative feedback. The goal is to keep the general consensus is in line with your company goals.
A reservation for a property that was made due to a recommendation from another guest.
The published rate for a night’s stay without any discounts or premiums included.
The price for a reservation offered to a potential guest. A quote is offered before a formal reservation or booking.
A request for more information from a potential guest asking about a listing or short-term rental property.
A special rate that a guest must meet certain conditions in order to book. Examples include working for a specific corporation, membership club, or promotional package rate with specific booking conditions.
The content on a distribution platform or property website that provides guests an understanding of why your property is the for them. The description usually includes the major amenities and offerings for a property, but also entices a guest to book your rental vs others.
Offering an incentive for a guest when they book a property, for example offering a night free if you book a during certain time periods.
Setting different rates for a property based on rental seasons.
Dynamic pricing for a property where the nightly rate is adjusted based on the number of people that are staying there. For example, charging a higher nightly rate for 5 people vs 2.
The interactions with guests from before they check-in to after they depart a property.
A double booking is when two or more guests are booked for a vacation rental for the same time period. Also referred to as overbooking.
see definition for channels
When a traveler books directly via the property owner’s website, rather than through a third-party distribution channel such as Airbnb or Vrbo.
The standard base rental rate for a property. This rate would be adjusted for variations in demand such as tourist seasons or weekend stays.
Websites where owners can offer their properties, examples include Airbnb and Vrbo.
Templates to reply to common guest questions, for example, “what is the Wifi password?”. A directory of responses can be viewed in our resource section.
A section on a website that asks the user to take a specified action. This can take the form of a button, hyperlink, or image with clear language of the expected action to take. Examples include: “Check Availability” or “Buy Now”.
A notification via email, SMS, or other means to a guest. This usually includes a specific booking reference number, time period, and rate. Additionally can include additional information such as a rental contract and house rules.
Reserving a vacation rental property for a specific time period for a particular guest.
The experience where rental properties see an increase in direct bookings on their own website after listing their property on multiple travel portals (Airbnb, Vrbo, etc). This is due to customers discovering first on the portal and later visiting the property’s own website to directly book their trip.
Best Rate Guarantee
The commitment that the rate offered to a guest is the lowest rate available.
A designation created by Airbnb for hosts who meet criteria of a 4.8+ overall rating, 10+ stays, and low cancellation rate over time.
Invite-only program created by Airbnb that recognizes the world’s top Airbnb hosts and places to stay.
The price per night that a host offers to a potential renter.
Glossary terms are provided by the community to provide a quick reference for short term rental owners.
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