A system for transferring property availability between systems.
When one set of guests check out and another set check in on the same day.
The act of exchanging a stay at a vacation property for goods or services, such as repairs and maintenance.
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.
A tool that visually shows how bookings materialize over a certain time period, helping property owners and managers to adjust rates and availability accordingly.
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.
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.
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.
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.
A digital or push-button mechanical lock that does not require a key or access card to operate.
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.
A dedicated dashboard that enables vacation rental owners who outsource the management of their homes to view their properties’ performance.
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.
Specified hours during which guests are expected to keep noise to a minimum at a vacation rental or short-term rental property.
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.
A precautionary action taken by property owners wishing to escape loss and fraud.