A system for transferring property availability between systems.
Back-to-back booking
When one set of guests check out and another set check in on the same day.
Bartered services
The act of exchanging a stay at a vacation property for goods or services, such as repairs and maintenance.
Booking confirmation
Notification (email, sms, etc.) which includes booking reference, rental contract and house rules. Usually sent to guests at the time that they book your vacation rental.
Booking curve
A tool that visually shows how bookings materialize over a certain time period, helping property owners and managers to adjust rates and availability accordingly.
Broom clean
A term used in the real estate industry to describe the condition or cleanliness of a home. It is open to interpretation, however, broom-clean homes are usually free of excess things like personal items and debris, and have been swept or vacuumed.
Changeover days
Specific days of the week which owners set as the days they would like bookings to begin and end.
A tool that makes certain days unavailable for arrivals.
Co-host
Feature on Airbnb which allows an owner to assign a co-host to the account. The co-host is somebody that the listing owner knows already and they will help them to take care of their home and guests.
Cosmetic upgrades
Home improvements which impact, above all, the property’s look & feel. For example, painting, installing new flooring or a new fireplace.
Depth of inventory
The number of similar units that are available to rent in a specific area.
Electronic lock
A digital or push-button mechanical lock that does not require a key or access card to operate.
Fixer-uppers
A real-estate property that will require maintenance work (redecoration, reconstruction or redesign), though it usually can be lived in as it is. Fixer-upper houses are usually offered for sale at a low price.
When a property manager or vacation rental owner has renovated the property with amenities that won’t result in monetary gains.
Owners portal
A dedicated dashboard that enables vacation rental owners who outsource the management of their homes to view their properties’ performance.
Owner’s closet
Locked closet that inside the vacation rental property which stores the owner’s personal items. Usually off-limits for renters.
Preparation Time Before Arrival (PTBA)
Also known as “release days”. The minimum number of days in advance a booking has to be made, e.g minimum of two days before arrival. This allows property managers to gain better control of last-minute bookings and gives them time to prepare for the guest’s arrival.
A legally binding document between a property manager and property owner which clarifies in writing any arrangements that have been made between the two parties, including house rules and repercussions if broken.
Property management cost
The total amount of expenses involved in managing a rental property.
A specialist employed to execute real estate management for long-term or short-term rental housing.
Quiet hours
Specified hours during which guests are expected to keep noise to a minimum at a vacation rental or short-term rental property.
Release days
Also known as “Preparation Time Before Arrival (PTBA)”. The minimum number of days in advance a booking has to be made, e.g minimum of two days before arrival. This allows property managers to gain better control of last-minute bookings and gives them time to prepare for the guest’s arrival.
Different categories of rooms available at a property or properties. Images and descriptions of main features and amenities applying to each room category will usually be included on the property website and across its distribution channels. Prices tend to vary for different room types.
Screening guests
A precautionary action taken by property owners wishing to escape loss and fraud.
Tools to simplify the distribution and monitoring of tasks.
Vacation rental management
The process involved in managing and running a vacation rental business, optionally made simpler with rental property software.
Value-added items
Additional amenities that could increase the occupancy level of a property. For example, high chairs, hot tubs, pool tables, and sofa beds are all value-added items.
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