The process of vetting potential guests before confirming bookings, using background checks, reviews, and communication to minimize risks.
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Glossary Term: Security deposits
24 posts
The process of vetting potential guests to minimize risks such as property damage, noise complaints, or unauthorized occupants.
Insurance policies or security deposits designed to safeguard hosts from financial losses caused by accidental damages, leaks, or other unforeseen events.
The system and methods used to process payments from guests booking short-term rentals, including security deposits, cleaning fees, and rental payments.
Implementing strategies and measures to minimize potential risks associated with short-term rentals, such as property damage, liability, and legal disputes.
Proactive measures taken by short-term rental hosts to minimize the risk of property damage by guests, including clear house rules, security deposits, and guest screening processes.
The process of verifying the identity and assessing the suitability of potential guests before accepting a booking request, to mitigate risks and ensure safety and security.
The legal process where unclaimed security deposits or rental income are transferred to the state after a specified period of time, requiring hosts to maintain accurate records.
Insurance or security deposits that protect hosts from financial losses due to accidental or intentional damage to their property by guests.
A legal document outlining the terms and conditions of a security deposit provided by a tenant to a landlord in a commercial lease agreement, potentially relevant for short-term rental properties.
The process of addressing and resolving issues or disputes arising from guest stays, such as property damage, security deposit deductions, or liability claims, typically involving communication and negotiation between hosts, guests, and potentially insurance companies or platforms like Airbnb and VRBO.