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 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”.
An amount of money that a guest must pay if they cancel a reservation. The amount can change as a renter gets closer to the date of the reservation.
Rules that describe what happens if a guest cancels their reservation. Policies normally include a certain date that guests must inform the host of their intention to cancel in order to recieve a refund.
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.
The day(s) that current guests depart and the owner gets the property ready for the next guest at check-in time. Owners may set up specific days of the week that they would like bookings to begin and end.
A fee charged by third-party distributors to a hosts for listing their property.
A tool that synchronizes data between listing platforms (Airbnb, Vrbo, etc) and offers owners a central platform for managing reservations. Channel managers can synchronize calendars, property data, rates, messages, etc.
Websites where owners can offer their properties, examples include Airbnb and Vrbo.
The process where a guest’s arrival is recorded for their stay.
The process where a guest’s departure from a property is recorded.
A fee charged by hosts for the cost of cleaning their property after guest departure.
Closed to arrival (CTA)
Marking certain days unavailable for arrivals in a reservation system.
An Airbnb feature that allows an owner to assign a co-host to the account.
Comparative Market Analysis
A report created to view comparable homes in an area that is used to estimate a fair value for a property.
A list of rental properties that can be seen as competitors to a property because they are similar in size, amenities, and price, and attract a common demographic. Comparing against their competitive set can help property owners make their own offering more competitive.
A building or grouping of properties with multiple units for rent.
A condo building that offers services like a hotel. For example a concierge, room service, or gym facilities.
The rate comparing the total number of travelers viewing or making an inquiry for a property vs the total number of bookings.
Improvements to a property that primarily benefit the look & feel. Examples could include new flooring, painting, or lighting.
Additional fees charged to a guest that is unique to a property. These could be due to special amenities such as fire pits or hot tubs that require additional cleaning or supplies.
Glossary terms are provided by the community to provide a quick reference for short term rental owners.
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