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 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 is in the same condition they found it. Also referred to as a breakage or security deposit.
Damage waiver fee
A damage waiver fee is a prepaid, non-refundable fee included in the rental price covering accidental damages to the property during a guests stay.
A documented right providing complete access to a certain property. For example, if you purchase property near the beach but not on the waterfront, your property might have deeded access through a path to get to the beach.
The standard base rental rate for a property. This rate would be adjusted for variations in demand such as tourist seasons or weekend stays.
Depth of inventory
The number of similar properties available to rent in a specific area.
When a traveler books directly via the property owner’s website, rather than through a third-party distribution channel such as Airbnb or Vrbo.
see definition for channels
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.
A partial payment made by a renter at the time of booking in order to secure a reservation. This can be a fixed amount or a percentage of the total rental fee.
Adjusting the price for a property to reflect differences in demand for a rental. Dynamic pricing would charge a higher nightly rate during peak tourist season, and less during periods where demand is lower.
Glossary terms are provided by the community to provide a quick reference for short term rental owners.
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