This refers to the legal and contractual responsibilities of both the host and the guest when renting a short-term rental property. This includes following local laws, respecting house rules, and fulfilling payment agreements.
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Glossary Terms
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A term used to describe a loyal guest who frequently books vacation rentals and often recommends properties or platforms to others.
The act of making a reservation for a vacation rental property. This can be done directly through the property owner or manager or through an online booking platform.
A specific segment of the vacation rental market that caters to a particular type of traveler or property. Examples include pet-friendly rentals, luxury villas, or eco-friendly cabins.
The process of marketing vacation rental properties to potential guests. This can include listing on online travel agencies (OTAs), creating a website, and using social media.
A term used to describe a vacation rental property located in a suburban area, typically within a short driving distance of a major city.
A refundable amount collected from guests before their stay to cover potential damages or violations of house rules.
The fluctuation in demand and pricing for vacation rentals throughout the year, influenced by factors like holidays and weather.
The strategic application of pricing, availability, and distribution strategies to maximize revenue from a vacation rental.
Laws, ordinances, and guidelines governing short-term rentals in a specific location, addressing issues like permits and taxes.
The process of determining the market value of a vacation rental property, considering factors like location, size, and amenities.