An agreement between a host and a guest to cancel a confirmed booking, typically initiated due to unforeseen circumstances or a change in plans by either party.
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Glossary Term: Booking
28 posts
The shortest period for which guests can book a short-term rental property, often varying by season or demand.
A feature on Airbnb and VRBO that allows guests to book a short-term rental instantly without needing host approval.
Software designed to streamline and automate the booking process for short-term rentals, typically including features like calendar synchronization, payment processing, and guest communication tools.
(Albanian) Verb meaning ‘to complete’ or ‘to finish’. In the context of short-term rental management, it can refer to tasks such as ‘Gkryer rezervimin’ (completing a booking) or ‘Gkryer pastrimin’ (finishing the cleaning).
The terms and conditions that dictate the refund amount a guest receives if they cancel their booking, ranging from flexible to strict.
The service of arranging and managing bookings for local tours, activities, and experiences for short-term rental guests.
A hypothetical scheduling system that utilizes machine learning algorithms to optimize booking schedules based on factors like guest preferences, property availability, and market demand.
A call-to-action button on a website or listing that encourages users to take a specific action, such as ‘Book Now’, ‘Learn More’, or ‘Contact Host’.
A software solution that allows property managers to manage their listings and bookings across multiple short-term rental platforms like Airbnb, VRBO, and Booking.com from a central dashboard.
A metric used to track the percentage of potential guests who view a listing and then proceed to make a booking. A higher conversion rate indicates a more effective listing.
A three or four-digit number, usually found on the back of a credit card, used to verify the cardholder’s identity during online transactions for short-term rental bookings.