The practice of installing separate meters for individual units or areas within a property to track and bill utility usage separately.
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Glossary Term: Short-Term Rentals
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Being open and upfront with guests about expected utility consumption and any associated costs or guidelines for their stay.
Recommendations and best practices for reducing utility consumption in a short-term rental property, such as using energy-efficient appliances or promoting mindful usage to guests.
A predetermined amount of money included in the rental rate to cover a portion or all of the expected utility costs for a guest’s stay.
Disagreements or conflicts that may arise between hosts, guests, or utility providers regarding the accuracy or responsibility for utility charges.
Professional assessments of a property’s energy and water consumption patterns to identify areas for improvement and cost savings.
Regularly tracking and analyzing utility consumption data to identify trends, anomalies, and potential areas for optimization.
A type of furnished, short-term rental typically used by business travelers, often managed by specialized companies.
The strategy of listing short-term rental properties on multiple platforms, such as Airbnb, VRBO, and Booking.com, to reach a wider audience of potential guests.
Methods and technologies used to provide secure and convenient access to short-term rental properties for guests, such as smart locks, keypads, and lockboxes.
Strategic approach to maximizing rental income through dynamic pricing, occupancy optimization, and revenue forecasting specific to short-term rentals on platforms like Airbnb and VRBO.
A comprehensive document or digital resource provided to guests upon booking that includes essential information about the property, amenities, house rules, and local recommendations.