The practice of adjusting rental prices based on factors like demand, seasonality, and competition to maximize revenue.
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Glossary Terms
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An immersive digital representation of the property, often using 360-degree photos or videos, allowing potential guests to virtually explore the space online.
The integration of internet-connected devices, such as thermostats, lighting, and security systems, to enhance convenience, energy efficiency, and guest experience.
A platform feature that allows hosts and guests to provide feedback and ratings on their experiences, influencing future bookings and reputation.
Insurance or security deposits that cover costs associated with accidental or intentional damage to the property caused by guests.
A tax levied on accommodations, including short-term rentals, often collected by hosts and remitted to local governments.
The shortest allowable duration for a reservation, set by hosts to manage turnover costs and optimize bookings.
Recommendations or arrangements for activities, attractions, and unique experiences in the surrounding area, enhancing the guest’s overall trip.
Coverage that protects hosts from financial responsibility in the event of accidents, property damage, or liability claims arising from guest stays.
A booking option that allows guests to reserve a property immediately without requiring host approval, streamlining the process for both parties.
Periods of peak and off-peak travel demand, influencing pricing strategies and occupancy rates throughout the year.
The process of verifying the identity and assessing the suitability of potential guests before confirming a reservation, often involving background checks and reviews.