A booking option offered to guests at a discounted price, typically requiring full payment upfront and non-refundable in case of cancellation.
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Glossary Terms
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Local regulations that restrict noise levels within a specific area, often during certain hours, to minimize disturbances to neighbors from short-term rental guests.
The price charged to guests for each night of their stay at the rental property, often fluctuating based on demand, seasonality, and competition.
The profit earned from a short-term rental property after deducting all expenses, including mortgage payments, property taxes, utilities, cleaning fees, and platform fees.
A type of online advertising that blends seamlessly with the platform it appears on, such as sponsored listings on social media or search engines, designed to attract potential guests to the rental property.
Amenities and attractions located within walking distance or a short drive from the rental property, enhancing its appeal to guests. Examples include parks, restaurants, shops, and entertainment venues.
A tax imposed by local governments on overnight accommodations, including hotels and short-term rentals, to generate revenue for tourism-related expenses and infrastructure.
Fluctuations in the demand for short-term rentals throughout the year, influenced by factors like holidays, school breaks, weather patterns, and local events.
A business model where individuals rent properties long-term and then sublet them as short-term rentals on platforms like Airbnb and VRBO, aiming to profit from the difference in rental rates.
Processes and procedures implemented by hosts or property managers to ensure the consistent quality of the guest experience, including cleanliness, maintenance, and communication standards.
Software designed to help hosts manage their short-term rentals, offering features such as automated messaging, booking calendars, payment processing, and performance analytics.
A pricing strategy where hosts lower their nightly rates during periods of lower demand, typically outside of peak seasons or holidays, to attract bookings and maintain occupancy.