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 where the assets are permanently placed under the trust’s control and cannot be modified or revoked by the grantor (the original owner) without the beneficiary’s consent. Sometimes used for asset protection in short-term rental ownership.