A situation where one party in a transaction has more information than the other, such as a host knowing more about the property’s condition than a guest.
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Glossary Terms
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A third-party company that handles the day-to-day operations of a short-term rental property, including marketing, booking, guest communication, and maintenance.
A booking system where guests can reserve a property without waiting for host confirmation, streamlining the booking process.
Communication methods like email or in-app messaging that allow hosts and guests to respond at their convenience, without requiring an immediate reply.
Capturing stunning images of the night sky, often showcasing the Milky Way, stars, and celestial events, to enhance a property’s appeal.
Equipment or modifications that enhance accessibility for guests with disabilities, such as ramps, grab bars, or visual fire alarms.
A feature on Airbnb and VRBO that allows potential guests to contact hosts with questions before booking.
An accounting method that allows property owners to deduct a portion of the property’s value each year to account for wear and tear.
A provision in a rental agreement stating that the property is rented in its current condition, including any existing damage or defects.
A communication method where messages are not exchanged in real-time, allowing hosts and guests to respond at their convenience. Examples include emails, text messages, and messaging apps.
Strategies and measures taken to safeguard personal and business assets from potential liabilities and lawsuits. This is particularly important for short-term rental owners who may face risks associated with property damage or guest injuries.
Local markets featuring handcrafted goods, unique souvenirs, and local produce, often recommended to short-term rental guests seeking authentic experiences.