The automated process of updating calendar availability, rates, and booking details across multiple OTAs in real-time to prevent double bookings.
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Glossary Terms
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The practice of maintaining consistent pricing for vacation rentals across all online travel booking channels (OTAs) like Airbnb, VRBO, and Booking.com.
The strategy of listing and promoting short-term rental properties on multiple online travel agents (OTAs) like Airbnb and VRBO to reach a wider audience and maximize bookings.
Refers to the seamless integration between a property management system (PMS) and online travel agents (OTAs) like Airbnb and VRBO, enabling real-time updates of availability, rates, and bookings.
A software solution that allows property managers to manage their listings and bookings across multiple online travel agents (OTAs) like Airbnb and VRBO from a single platform.
The period, typically in the early months of the year, when individuals and businesses are required to file their annual income tax returns. Short-term rental owners need to be aware of tax deadlines and obligations related to their rental income.
An energy-efficient water heating system that heats water on demand instead of storing it in a tank. Tankless water heaters are a desirable amenity for short-term rentals as they provide endless hot water for guests.
Personalized suggestions for activities, restaurants, and attractions provided to guests based on their interests, preferences, and the purpose of their stay. Tailored recommendations enhance the guest experience and can lead to positive reviews.
The arrangement of tableware, including plates, cutlery, glassware, and napkins, on a dining table for a meal. A well-executed table setting can enhance the guest experience in a short-term rental.
Strategies and practices employed by short-term rental owners to legally minimize their tax liabilities, such as claiming eligible deductions and utilizing tax credits.
A unique nine-digit number assigned to individuals or businesses by the IRS for tax purposes, required for reporting rental income.
Tools used by hosts and property managers to streamline and automate tasks associated with managing short-term rentals, such as cleaning, maintenance, and communication.