Establishing a system for collecting and analyzing guest feedback to identify areas for improvement and make necessary adjustments to the rental experience.
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Glossary Term: Property Management
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Maintaining a running list of minor repairs or maintenance tasks that need to be addressed at the rental property to ensure everything is in working order.
All the tasks and processes involved in managing a short-term rental after a guest has made a booking. This includes guest communication, check-in and check-out procedures, cleaning and maintenance, and handling guest issues.
Indicates that a short-term rental property is managed by a professional property management company, responsible for handling bookings, cleaning, and guest communication.
A comprehensive approach to managing real estate assets, encompassing financial, operational, and strategic aspects, often used interchangeably with property management in the context of short-term rentals.
A system used to process transactions, often integrated with property management software, for managing payments, bookings, and other financial aspects of short-term rentals.
Managing a variety of short-term rental properties with different locations, sizes, or price points to mitigate risks and potentially increase revenue.
The regular upkeep and cleaning required for a swimming pool at a short-term rental property, ensuring it is safe and enjoyable for guests.
In some regions, regulations may require electrical appliances provided in short-term rentals to undergo periodic safety testing and inspection, known as PAT testing.
The use of software and technology to automate tasks and communication with guests after they book a short-term rental, such as sending booking confirmations, providing check-in instructions, and requesting reviews.
An individual or company hired by a property owner to manage the day-to-day operations of their short-term rental, including guest communication, cleaning, maintenance, and bookings.
Investing in improvements and upgrades to enhance the property’s appeal, functionality, and overall value for guests.