The importance and financial benefits associated with longer guest stays at a short-term rental property, contributing to higher revenue and reduced turnover costs.
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Glossary Term: Short-Term Rental
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Specialized insurance policies designed to cover the unique risks associated with short-term rentals, including property damage, liability claims, and business interruptions.
A type of insurance coverage that protects short-term rental owners from financial losses caused by water damage to their property, typically covering repairs, replacement costs, and loss of rental income.
A comprehensive document or digital resource provided to guests upon booking or arrival, containing essential information about the short-term rental, local area, house rules, and contact details.
The nightly or total price charged for a short-term rental stay that falls on a Monday through Thursday night, often set at a lower rate compared to weekend rates due to lower demand.
A type of short-term rental where guests have exclusive access to an entire property, including all bedrooms, living areas, kitchen, and bathrooms, providing privacy and a home-away-from-home experience.
A thorough inspection of a short-term rental property conducted by the host or a designated representative before and after each guest stay, documenting the condition of the property and identifying any damages or maintenance needs.
An essential appliance in a short-term rental that provides hot water for showers, baths, and kitchen use, ensuring guest comfort and convenience.
A collection of thoughtful gifts and essential items provided to guests upon arrival at a short-term rental, typically including local treats, toiletries, and a welcome note.
A small token of appreciation offered to guests upon arrival at a short-term rental, such as a bottle of wine, local snacks, or a personalized note, enhancing the guest experience and creating a welcoming atmosphere.
The normal deterioration of a property and its furnishings due to regular use over time, as opposed to damage caused by negligence or misuse.
A reduced rate offered to guests who book a short-term rental for a full week or longer, incentivizing extended stays and increasing occupancy during slower periods.