A third-party service that manages security deposits for short-term rentals, holding funds securely and disbursing them according to the terms agreed upon by hosts and guests.
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Glossary Term: Trust
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A verification process used by some vacation rental platforms (like Airbnb) where hosts can choose to have their identity and listing information reviewed to enhance trust and credibility with potential guests.
A badge or status on platforms like Airbnb that indicates a host has completed a verification process, typically involving providing identification and proof of address.
The steps involved in confirming the identity and legitimacy of both hosts and guests on short-term rental platforms.
The process of confirming a guest’s identity and legitimacy before allowing them to book a short-term rental. This can involve verifying government-issued IDs, checking social media profiles, and screening against databases of known fraudsters.
A guest who has completed the identity verification process on a booking platform like Airbnb or VRBO.
The process of verifying a guest’s identity before confirming their booking, often involving government-issued ID and background checks, to enhance security and trust.
This Swedish word means ‘length of service’ or ‘tenure.’ In the context of short-term rentals, it can refer to the duration a host has been active on platforms like Airbnb and VRBO. Experienced hosts may highlight their tenure to build trust with potential guests.
Favorable feedback from previous guests, displayed on short-term rental platforms, influencing the booking decisions of potential future guests.
The level of uncertainty or potential negative outcomes that guests associate with booking a short-term rental, often influenced by factors like reviews, property condition, and communication with the host.
A type of trust used for estate planning purposes that cannot be modified or revoked by the grantor (creator) once it is established. This can be relevant for short-term rental property owners.