The integration of smart home technology, such as automated locks, thermostats, and lighting, to streamline operations and enhance the guest experience in short-term rentals.
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Glossary Term: Airbnb
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Legal contracts outlining the terms and conditions of service between short-term rental owners and property management companies, specifying responsibilities, fees, and expectations.
The use of algorithms and market data to adjust rental prices in real-time, optimizing occupancy rates and revenue based on factors like demand, seasonality, and competition.
Tools that provide short-term rental hosts with comprehensive insights into their business performance, tracking key metrics like occupancy rates, revenue, expenses, and guest demographics.
A short-term rental property located within a city or metropolitan area, often characterized by its proximity to urban amenities, attractions, and public transportation.
Listing a short-term rental property on multiple online travel agencies (OTAs) like Airbnb, VRBO, and Booking.com to reach a wider audience.
A feedback mechanism used by platforms like Airbnb and VRBO, allowing both guests and hosts to publicly rate and review their experiences with each other.
A fully furnished and equipped short-term rental property that is ready for immediate occupancy by guests, requiring minimal setup or management from the owner.
The average or expected price range for a short-term rental property in a specific location and time period, based on factors like demand, seasonality, and property type.
A communication tool integrated within a platform like Airbnb or VRBO, or a third-party service, allowing hosts to communicate with guests before, during, and after their stay.
The practice of outsourcing some or all aspects of short-term rental management to a specialized company, handling tasks like guest communication, cleaning, and maintenance.
A search engine that aggregates listings from multiple short-term rental platforms like Airbnb, VRBO, and Booking.com, allowing travelers to compare prices and amenities across different sites.