Short Term Vacation Rental Glossary.

A business model where an operator rents properties on long-term leases, then re-rents them as short-term rentals for profit. The arbitrageur profits from the difference between the monthly lease ...

Application Programming Interface. A way for software systems to communicate with each other automatically. In vacation rentals, APIs connect your property management system with channels like ...

A status awarded by Airbnb to hosts who meet specific performance criteria including a 4.8+ overall rating, less than 1% cancellation rate, 90%+ response rate, and at least 10 stays per year. ...

The average rental income earned per paid occupied night. Calculated by dividing total rental revenue by the number of nights booked. ADR is one of the most important metrics for measuring pricing ...

A feature or service that adds value to a rental property. Amenities can be physical (hot tub, pool, fireplace) or service-based (Wi-Fi, streaming services, concierge). High-demand amenities often ...

The average number of nights guests stay at your property per booking. ALOS affects turnover costs and operational efficiency. Longer stays mean fewer turnovers but may indicate missed pricing ...

Pre-written messages that are automatically sent to guests at specific trigger points in the booking lifecycle. Common automated messages include booking confirmations, check-in instructions, ...

The world's largest short-term rental marketplace, connecting hosts with guests looking for alternatives to hotels. Airbnb charges hosts a 3% service fee per booking (or 14-16% under split-fee ...

The number of days between when a booking is made and the check-in date. Understanding your typical booking lead time helps optimize pricing strategy. Last-minute bookings (short lead time) may ...

A specific date or date range when a property is marked as unavailable for booking, regardless of actual availability. Hosts use blackout dates for personal use, maintenance, or to enforce minimum ...

Software that allows guests to check availability, view pricing, and complete reservations directly on your website. A booking engine handles the entire transaction including payment processing, ...

The standard nightly price for a property before any adjustments for seasonality, demand, length of stay discounts, or special events. Your base rate serves as the starting point for dynamic pricing ...

The period of time during which guests can make reservations. This includes how far in advance guests can book (advance booking window) and how close to check-in they can book (last-minute booking ...

One of the world's largest online travel agencies, originally focused on hotels but now a major vacation rental marketplace. Booking.com typically charges hosts 15% commission per booking. Unlike ...

Software that connects your property to multiple booking channels and keeps availability, pricing, and content synchronized across all platforms. Channel managers prevent double bookings and save ...

Short for competitive set. A group of similar properties in your market that you compare your performance against. Your comp set should include properties with similar size, amenities, location, and ...

Any platform or method through which guests can discover and book your property. Channels include OTAs (Airbnb, VRBO, Booking.com), metasearch sites (Google Vacation Rentals), and direct booking ...

The process by which a guest arrives and gains access to a rental property. Check-in can be in-person (host meets the guest), self check-in (lockbox or smart lock), or hybrid. The check-in experience ...

A one-time fee charged to guests to cover the cost of cleaning the property between stays. Cleaning fees are typically shown separately from the nightly rate. High cleaning fees can deter short stays ...

The process of automatically sharing availability between different booking platforms to prevent double bookings. Calendar sync can be one-way (export only) or two-way (bidirectional). iCal is the ...

A percentage of the booking value that OTAs charge hosts for each reservation made through their platform. Airbnb charges 3% to hosts (plus guest fees), while VRBO and Booking.com charge 5-15%. ...

A person who helps manage a vacation rental on behalf of the property owner. Co-hosts may handle guest communication, turnovers, maintenance, or full property management. Platforms like Airbnb allow ...

A reservation made directly between a host and guest without paying fees to a third-party platform like Airbnb or VRBO. Commission-free bookings typically save hosts 12-20% per reservation. Building ...

The terms that define what happens when a guest cancels a reservation. Policies range from flexible (full refund up to 24 hours before check-in) to strict (50% refund up to one week before). Your ...

Insurance or waiver programs that protect hosts against guest-caused property damage. Unlike security deposits, damage protection is typically a non-refundable fee that provides coverage without ...

A reservation made directly with a property owner or manager, bypassing OTAs. Direct bookings eliminate commission fees (typically 3-15%) and give hosts full control over the guest relationship, ...

A pricing strategy that automatically adjusts nightly rates based on demand, seasonality, local events, competitor pricing, and other market factors. Dynamic pricing tools like PriceLabs and AirDNA ...

A vacation rental that offers a unique, memorable experience beyond just accommodation. Examples include treehouses, yurts, houseboats, and themed properties. Experiential rentals often command ...

Unexpected events that may qualify a guest for a refund even under strict cancellation policies. OTAs like Airbnb have extenuating circumstances policies covering natural disasters, ...

A property management company that handles all aspects of vacation rental operations including marketing, guest communication, pricing, cleaning, maintenance, and revenue management. Full-service ...

A cancellation policy that allows guests to cancel with minimal or no penalty, often up to 24-48 hours before check-in. Flexible policies attract more bookings but increase the risk of last-minute ...

Google's metasearch platform for vacation rentals, displaying properties directly in Google Search and Maps. Unlike OTAs, Google sends guests to your direct booking website to complete the ...

Similar to guest screening, this is the process of verifying guest identity and assessing risk before confirming a reservation. Vetting helps prevent parties, fraud, and property damage. Many hosts ...

The process of evaluating potential guests before accepting their booking. Screening may include ID verification, background checks, social media review, and checking reviews from previous stays. ...

An unbookable night between two reservations, usually caused by minimum stay requirements. Gap nights represent lost revenue. Orphan night pricing and flexible minimum stays can help fill these gaps.

Feedback left by a guest after their stay, typically including a star rating and written comments. Reviews are the primary trust signal in vacation rentals — properties with more positive reviews ...

All messaging between a host and guest before, during, and after a stay. Effective guest communication includes booking confirmation, pre-arrival instructions, check-in details, mid-stay check-ins, ...

The person responsible for managing a vacation rental property. A host may be the property owner, a co-host, or a professional property manager. The term is most commonly associated with Airbnb but ...

The specific rules and policies that guests must follow during their stay. Common house rules cover noise restrictions, smoking policy, pet policy, maximum occupancy, party prohibitions, and checkout ...

A mobile-first travel booking platform and the third-largest OTA in North America. Hopper uses AI-driven price prediction to help travelers find deals on flights, hotels, and vacation rentals. For ...

A digital or printed guide containing essential information for guests including check-in instructions, house rules, Wi-Fi password, appliance instructions, local recommendations, and emergency ...

A booking setting that allows guests to reserve immediately without host approval. Instant Book reduces friction and increases bookings but gives hosts less control over who stays. Most OTAs favor ...

The total number of available nights or properties a host has for rent. Managing inventory means controlling when properties are available, at what price, and through which channels. Also refers to ...

A standard calendar format (.ics) used to sync availability between different booking platforms. iCal feeds export your booked dates so other calendars can block those dates automatically. Most OTAs ...

The method by which guests receive access to the property. Traditional key exchange requires in-person handoff, while modern solutions include lockboxes, smart locks, and keypad entry. Self-check-in ...

A discount offered to guests who book for extended periods. Weekly and monthly discounts are common. LOS discounts reduce turnover costs and guarantee occupancy but lower your average nightly rate.

Taxes charged on short-term accommodations, collected from guests and remitted to local or state governments. Also called transient occupancy tax (TOT), hotel tax, or bed tax. Tax rates and ...

The process of improving a listing's content, photos, pricing, and settings to increase visibility in search results and convert more views into bookings. Optimization includes SEO (keywords), ...

A reservation made within a short window before check-in, typically 1-7 days. Last-minute bookings may be priced higher (peak demand) or lower (fill vacancies) depending on your strategy. They often ...

A property's profile page on a booking platform. A listing includes photos, description, amenities, pricing, availability, house rules, and reviews. Optimized listings with professional photos and ...

A platform that aggregates listings from multiple booking sites, allowing travelers to compare options in one place. Unlike OTAs, metasearch sites (Google, Trivago, Kayak) typically send users to ...

A rental lasting 1-6 months, longer than traditional vacation rentals but shorter than annual leases. Mid-term rentals often target traveling professionals, relocating families, and digital nomads. ...

Information about vacation rental performance in your area, including average rates, occupancy, revenue, and booking patterns. Market data providers like AirDNA, Key Data, and Transparent aggregate ...

The shortest booking length a property will accept. Minimum stays reduce turnover costs and operational burden but may result in gap nights and lost bookings. Common settings are 1-night (maximum ...

Technology that detects excessive noise levels in vacation rentals without recording conversations. Noise monitoring devices (like Minut and NoiseAware) alert hosts to potential parties, helping ...

The total rental income minus all operating expenses, before mortgage payments and income taxes. NOI shows the true profitability of a vacation rental property. Key expenses include cleaning, ...

The percentage of available nights that are booked over a given period. Calculated by dividing booked nights by available nights. Occupancy rate is a key performance indicator, though high occupancy ...

A website that allows travelers to book accommodations online. OTAs include Airbnb, VRBO, Booking.com, and Expedia. OTAs provide exposure and handle payments but charge commission fees (typically ...

Dates reserved by the property owner for personal use. Owner blocks remove dates from availability without creating a reservation. Property management agreements typically specify how many owner ...

An isolated available night surrounded by booked dates or blocked days that is too short to meet minimum stay requirements. Orphan night pricing strategies offer discounts or waive minimum stays to ...

The transfer of rental income from an OTA or payment processor to the host. Payout timing varies by platform: Airbnb typically pays 24 hours after check-in, while direct booking payments may be ...

Software that helps hosts manage vacation rentals including reservations, guest communication, pricing, housekeeping, and channel distribution. A PMS centralizes operations and automates repetitive ...

An additional charge for guests traveling with pets. Pet fees may be a flat amount per stay, per night, or per pet. Some hosts also require a separate pet deposit. Pet-friendly properties often ...

The time of year with highest demand for vacation rentals in your market. Peak season varies by location: summer for beach destinations, winter for ski resorts, spring/fall for cities. Hosts ...

A percentage or flat fee charged by a booking platform for facilitating a reservation. Airbnb charges hosts 3-5% (or 14-16% under guest-only fee structure), VRBO charges 5%, and Booking.com charges ...

A key performance metric that combines occupancy rate and average daily rate. Calculated by multiplying ADR by occupancy rate, or dividing total revenue by available nights. RevPAR provides a more ...

A pricing strategy where the same nightly rate is offered across all booking channels. OTAs often require rate parity in their terms of service. Some hosts offer better rates on their direct booking ...

A guest who books the same property more than once. Repeat guests are the most valuable segment for vacation rental hosts because they require zero acquisition cost, have higher average booking ...

A legal contract between host and guest outlining the terms of the stay, including check-in/out times, house rules, cancellation policy, liability waivers, and payment terms. Also called a vacation ...

A guest who has stayed at your property more than once. Repeat guests are valuable because they cost nothing to acquire, are lower risk, and often leave better reviews. Building a database of repeat ...

The strategic use of pricing, inventory control, and distribution channels to maximize revenue. Revenue management involves analyzing market data, forecasting demand, and adjusting rates dynamically. ...

An electronic lock that can be opened with codes, smartphone apps, or other digital methods instead of physical keys. Smart locks enable self check-in and allow hosts to generate unique codes for ...

An arrival process that allows guests to access the property without meeting the host in person. Self check-in typically uses smart locks, keypads, or lockboxes with codes sent to guests before ...

A refundable amount collected from guests to cover potential damages during their stay. Unlike damage protection fees, security deposits are returned if no damage occurs. Deposits may be held on a ...

A license or permit required by local government to legally operate a short-term rental property. Requirements vary widely by city and county — some require simple registration, others involve ...

A fee charged to guests by booking platforms on top of the listed rental price. Airbnb's guest service fee is typically 14-16% of the booking subtotal. Service fees increase the total cost guests pay ...

Local, state, or national laws governing the operation of short-term rental properties. Regulations may include permit requirements, occupancy limits, parking rules, noise ordinances, minimum stay ...

Search Engine Optimization strategies specifically for vacation rental websites. SEO helps a host's direct booking website appear in Google search results when travelers search for rentals in their ...

The predictable fluctuation in demand throughout the year based on seasons, holidays, and local events. Understanding seasonality helps hosts set appropriate rates, minimum stays, and marketing ...

A furnished property rented for short periods, typically less than 30 days. STRs include vacation rentals, corporate housing, and Airbnbs. Many jurisdictions regulate STRs differently than hotels or ...

Airbnb's recognition program for hosts who meet certain performance criteria including response rate, review scores, completion rate, and booking volume. Superhosts receive a badge, priority support, ...

A tax imposed on short-term lodging by local governments. Also called hotel tax, bed tax, or lodging tax. Rates typically range from 6-15% of the rental amount. Some OTAs collect and remit TOT ...

The total expense of preparing a property between guests including cleaning fees, laundry, restocking consumables, and wear-and-tear. High turnover costs favor longer minimum stays, while low ...

The process of preparing a property between guests, including cleaning, restocking supplies, inspecting for damage, and resetting amenities. A "turn" is a single turnover event. Efficient turnovers ...

Offering guests additional services or upgrades for extra revenue. Common upsells include early check-in, late checkout, airport transfers, grocery stocking, and experience packages. Upselling ...

A feature in property management software that consolidates guest messages from multiple channels (Airbnb, VRBO, direct bookings, email) into a single interface. A unified inbox saves time and ...

A furnished property rented to travelers for short-term stays as an alternative to hotels. Vacation rentals range from single rooms to luxury estates and include apartments, cabins, beach houses, and ...

A contract between a property owner and a property management company outlining the scope of services, fees, responsibilities, and terms. Key elements include commission structure, marketing ...

An interactive, 360-degree view of a property that allows potential guests to explore spaces online. Virtual tours (like Matterport) build trust, reduce inquiry questions, and may improve conversion ...

Vacation Rental By Owner — a major online travel agency owned by Expedia Group. Originally focused on whole-home vacation rentals (unlike Airbnb's shared-space origins), VRBO charges hosts a 5% ...

A physical or digital guide provided to guests containing property information, house rules, local recommendations, and emergency contacts. A well-designed welcome book improves the guest experience ...

A higher nightly rate charged on Friday and Saturday nights to capture increased weekend demand. Weekend pricing is a basic form of dynamic pricing. The rate differential varies by market and ...

A pricing strategy that adjusts rates based on predicted demand to maximize revenue. Yield management considers factors like booking pace, competitor pricing, events, and historical data. The term ...