Establishing a system for collecting and analyzing guest feedback to identify areas for improvement and make necessary adjustments to the rental experience.
Menu
Glossary Term: Property Management
221 posts
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.
Indicates that a short-term rental property is managed by a professional property management company, responsible for handling bookings, cleaning, and guest communication.
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.
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.