The actual price paid to acquire a property, including closing costs and other associated expenses. This is a crucial factor in calculating investment returns for short-term rentals.
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Glossary Term: Short-Term Rental
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Strategic communication activities aimed at building and maintaining a positive public image for a short-term rental business. This can include media outreach, community engagement, and online reputation management.
A period of exceptionally high demand and occupancy rates for short-term rentals, often coinciding with major events, holidays, or peak seasons.
A metric used to track the frequency of bookings and guest turnover in a short-term rental property. A high pulse rate can indicate strong demand but also increased wear and tear.
A specialized insurance policy designed to cover short-term rental properties, offering protection against liabilities, property damage, and loss of income.
A legal document outlining the ownership and operational procedures for a business, especially important for short-term rental properties with multiple owners or managed by a company.
A situation where a short-term rental property’s pricing is not dynamically adjusted based on factors like demand, seasonality, and competitor pricing.
Features and facilities available to guests directly at the rental property, enhancing their stay experience.
A Hawaiian word meaning “family” that is often used in the short-term rental industry to emphasize the importance of creating a welcoming and hospitable environment for guests.
A type of hardwood native to Hawaii that is often used in furniture and decor, adding a touch of local flavor to short-term rentals.
An energy-saving platform that allows homeowners to connect their smart devices and earn rewards for reducing energy consumption during peak hours. This can be a useful tool for short-term rental hosts looking to save money on utility bills.