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.
Bookings for a property where guests check out and another set check-in on the same day.
Best Available Rate (BAR)
Lowest, non-restricted rate available to all guests.
Best Rate Guarantee
The commitment that the rate offered to a guest is the lowest rate available.
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.
Specific dates where property owners don’t accept any reservations. This could be due to using for personal use, blocking time for upgrades or repairs, or allowing friends or family to stay at the property free of charge.
Reserving a vacation rental property for a specific time period for a particular guest.
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.
A visualization of how bookings historically occur over a time period. This can aid property owners to adjust rates.
Software used by booking platforms (Airbnb, Vrbo, etc) to securely process reservations and payments.
A fee that agencies or websites charge for booking through them. Depending on the platform booking fees could be charged to rental property owners or guests.
The rate bookings for a property occur over a period of time from the booking date to the arrival date. Reviewing the booking pace can help owners identify patterns and adjust pricing appropriately.
The terms and conditions for a particular booking. This can include payment schedules, cancellation rules, and any required deposits.
When monthly rental income is able to cover all operating expenses for a property. Any additional revenue would be profit, and lower revenue would be a loss.
A refundable amount of money that a property owner collects from their guests in addition to the total rental amount at the time of booking. The deposit is to cover any guest damages to the property. The deposit is returned at the completion of a visit if the property in the same condition they found it. Also referred to as a damage or security deposit.
A term describing the condition or cleanliness of a property. Broom-clean homes are usually free of personal items and debris and have been swept or vacuumed.
Glossary terms are provided by the community to provide a quick reference for short term rental owners.
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