Bph (Business Process Hierarchy)
A hierarchical representation of all business processes within a short-term rental company, illustrating the relationships and dependencies between them.
Bpi (Business Process Improvement)
The continuous effort to identify, analyze, and improve existing business processes within a short-term rental operation to enhance efficiency and profitability.
Bpj (Business Process Journey)
The complete end-to-end flow of activities involved in a specific business process, such as guest acquisition or property maintenance, within a short-term rental context.
Bpk (Business Process Knowledge)
The collective understanding and expertise within a short-term rental company regarding its operational processes, best practices, and industry standards.
Bpl (Business Process Lifecycle)
The different stages a business process goes through within a short-term rental operation, from design and implementation to monitoring, evaluation, and improvement.
Bpm (Business Process Management)
A systematic approach to managing and optimizing all business processes within a short-term rental company to improve efficiency, reduce costs, and enhance guest satisfaction.
Bpn (Business Process Notation)
A standardized graphical representation used to document and communicate business processes within a short-term rental operation, such as BPMN (Business Process Model and Notation).
Bpo (Business Process Outsourcing)
The practice of contracting specific business processes, such as guest communication, cleaning, or maintenance, to external service providers specializing in short-term rentals.
Bpp (Business Process Performance)
The measurement and evaluation of how effectively and efficiently business processes are being executed within a short-term rental operation.
Bpq (Business Process Quality)
The overall effectiveness and efficiency of a short-term rental business’s processes in consistently delivering high-quality guest experiences and achieving business objectives.
Bpr (Business Process Re-engineering)
The fundamental redesign and implementation of core business processes within a short-term rental operation to achieve dramatic improvements in performance, efficiency, and guest satisfaction.
Bps (Business Process Standardization)
The implementation of consistent and documented procedures for all major business processes within a short-term rental company to ensure quality, efficiency, and scalability.
Bpt (Business Process Technology)
The software and digital tools used to automate, streamline, and manage various business processes within a short-term rental operation, such as property management systems (PMS).
Brand Reputation Management
The process of monitoring, influencing, and improving how your short-term rental brand is perceived online. This includes responding to reviews, managing social media, and addressing
Break-Even Point
In short-term rental management, the point at which your total revenue equals your total expenses. This is a key metric for determining the profitability of
Brokerage Services
Some property management companies offer brokerage services to help owners buy or sell short-term rental properties. These services can include market analysis, property valuation, and
Bridging Finance
A short-term loan used to cover the gap between purchasing a new short-term rental property and securing long-term financing. This can be useful for investors
Brand Storytelling
Creating a narrative around your short-term rental brand that connects with guests on an emotional level. This can involve sharing your property’s history, highlighting local
Brand Voice
The personality and tone of your short-term rental brand, as conveyed through your communication channels. Developing a consistent brand voice helps build trust and recognition
Broadband Internet
High-speed internet access is essential for most short-term rental guests. Offering reliable and fast internet can be a key selling point for your property.
Brand Guidelines
A set of rules and standards that define how your short-term rental brand should be presented visually and verbally. This includes your logo, color palette,
Breakage
In the context of short-term rental management, breakage refers to revenue lost due to cancellations, guest no-shows, or other unforeseen circumstances.
Brick-and-Mortar
Refers to a traditional business with a physical location, as opposed to an online-only business. In the context of short-term rentals, it can refer to
Brownfield Investment
Investing in a short-term rental property that requires renovation or redevelopment. This can be a higher-risk, higher-reward strategy compared to investing in a turnkey property.
Brand Loyalty
The tendency of guests to consistently choose a specific short-term rental brand or host over competitors.
Brand Positioning
The process of defining and communicating a short-term rental brand’s value proposition and target audience in a way that differentiates it from competitors.
Brand Promise
The commitment a short-term rental brand makes to its guests, outlining the value and experience they can expect.
Brand Recognition
The extent to which guests can identify and recall a short-term rental brand based on its visual elements, messaging, or reputation.
Brand Standards
Guidelines that define the visual identity, messaging, and overall presentation of a short-term rental brand.
Brick-and-Click
A business model that combines a physical presence, such as a property management company, with an online presence, like listings on Airbnb and VRBO.
Broker
An individual or company that acts as an intermediary between short-term rental property owners and potential guests, facilitating bookings and transactions.
Brand Identity
The visible elements of a brand, such as its name, logo, color palette, and overall aesthetic. A strong brand identity helps differentiate a short-term rental
Btu (British Thermal Unit)
A unit of energy commonly used to measure the heating or cooling capacity of HVAC systems, important for maintaining comfortable temperatures in short-term rentals.
Business Model Canvas
A strategic management template used to develop and visualize business models. It helps short-term rental entrepreneurs outline key elements like value propositions, customer segments, revenue
Business Overhead
Ongoing expenses incurred in the operation of a business, regardless of the level of sales or production. For short-term rentals, this includes costs like mortgage
Business Plan
A formal written document that outlines the goals of a business and how it plans to achieve them. A comprehensive business plan for short-term rentals
Business Structure
The legal framework under which a business operates, such as a sole proprietorship, partnership, limited liability company (LLC), or corporation. Choosing the right business structure
Buyer Persona
A semi-fictional representation of your ideal guest, based on research and data about your existing and potential customers. Creating detailed buyer personas helps short-term rental
Buzz Marketing
A viral marketing technique that leverages word-of-mouth and social media to generate excitement and buzz around a product or service. Short-term rental hosts can use
Buffer Day
A day or more left vacant between bookings to allow for cleaning, maintenance, or unexpected delays in guest checkout/new guest arrival.
Business Travel Ready
A listing designation or amenity that highlights features and services catering to the needs of business travelers, such as reliable Wi-Fi, workspaces, and expense-friendly options.
Buyer’s Agent
A real estate agent who represents the buyer in a real estate transaction, assisting with property search, negotiation, and closing.
Bureau Veritas
An international inspection, certification, and testing organization that may offer services related to short-term rental safety and compliance.
Business Interruption Insurance
A type of insurance that covers lost income and expenses if your business is interrupted by a covered event, such as property damage or natural
Business Name Generator
An online tool that helps you generate catchy and memorable business names, useful for branding your short-term rental business.
Business Valuation
The process of determining the economic value of a business, often used when selling or merging a short-term rental business.
Butlers Pantry
A small room or area located between the kitchen and dining room, often included in luxury rentals, used for storing servingware, preparing food, and drinks.
Butterfly Effect
The concept that small changes, such as a positive review or improved listing description, can have a significant impact on the success of your short-term
Buy-to-Let
A real estate investment strategy where a property is purchased specifically to rent out, often used for long-term rentals but applicable to short-term rentals as
Buzzworthy Amenities
Unique and desirable amenities that generate excitement and attract guests, such as hot tubs, game rooms, or outdoor entertainment areas.
Business Continuity Plan
A plan outlining how a business will continue operating during unexpected disruptions, such as natural disasters or power outages, important for minimizing downtime and financial
Bulk Amenities
Providing large, cost-effective quantities of essential amenities like toiletries, coffee, and cleaning supplies, often preferred by short-term rental hosts to minimize replenishment trips and reduce
Bv-Certified
A certification program offered by Bureau Veritas, a global testing, inspection, and certification company, that assesses and verifies the quality, safety, and sustainability of products,
Bv-Hospitality
Refers to the specific services and solutions offered by Bureau Veritas tailored to the hospitality industry, including short-term rentals, encompassing areas like hygiene and sanitation,
Bv-Safety
A set of safety standards and protocols developed by Bureau Veritas to ensure the well-being of guests and staff in hospitality settings.
Bv-Sustainability
A certification program offered by Bureau Veritas that assesses and recognizes sustainable practices in the hospitality industry.
Bv-Training
Training programs provided by Bureau Veritas to educate hospitality professionals on best practices, industry standards, and compliance requirements.
Bv-Verified Cleaning
A cleaning and hygiene verification program by Bureau Veritas, ensuring properties meet stringent standards for cleanliness and sanitation.
Bv-Risk Management
Services offered by Bureau Veritas to help hospitality businesses identify, assess, and mitigate potential risks, ensuring operational continuity and guest safety.
Bv-Food Safety
A set of food safety standards and certifications offered by Bureau Veritas to ensure the safe handling, preparation, and service of food in hospitality establishments.
Bv-Accessibility
Standards and certifications provided by Bureau Veritas to assess and improve accessibility for guests with disabilities in hospitality environments.
Bv-Cybersecurity
Services offered by Bureau Veritas to help hospitality businesses protect their digital assets and guest data from cyber threats.
Bv-Fire Safety
A comprehensive set of fire safety standards, inspections, and certifications offered by Bureau Veritas to mitigate fire hazards in hospitality properties.
Bv-Environmental Management
Services provided by Bureau Veritas to help hospitality businesses minimize their environmental impact through sustainable practices and compliance with environmental regulations.
Bv-Quality Management
Services and certifications offered by Bureau Veritas to help hospitality businesses implement and maintain quality management systems that meet international standards.
Bv-Health and Safety Management
A framework and certification provided by Bureau Veritas to help hospitality organizations establish and maintain a safe and healthy work environment for employees.
Bv-Energy Management
Services offered by Bureau Veritas to help hospitality businesses optimize energy consumption, reduce costs, and improve their environmental footprint.
Bv-Asset Integrity Management
Services provided by Bureau Veritas to help hospitality businesses manage the integrity and reliability of their physical assets, such as buildings, equipment, and infrastructure.
Bv-Supply Chain Security
Services offered by Bureau Veritas to help hospitality businesses secure their supply chains, mitigate risks, and ensure the quality and authenticity of goods and services.
Bv-Crisis Management
Services provided by Bureau Veritas to help hospitality businesses prepare for, respond to, and recover from crises such as natural disasters, pandemics, or reputational damage.
Bv-Social Responsibility
Standards and certifications offered by Bureau Veritas to assess and promote socially responsible practices in the hospitality industry, including labor standards, community engagement, and ethical
Bv-Data Security
Services and certifications provided by Bureau Veritas to help hospitality businesses protect sensitive data, comply with data privacy regulations, and build trust with guests.
Bwa-Automated Messaging
The use of software to automate communication with guests, such as booking confirmations, check-in instructions, and post-stay reviews.
Bwb-Channel Manager
A software tool that allows property managers to manage their listings and bookings across multiple platforms, such as Airbnb, VRBO, and Booking.com.
Bwc-Dynamic Pricing
A pricing strategy that adjusts rental rates based on factors like demand, seasonality, and competitor pricing.
Bwd-Guest Experience
The overall experience a guest has while staying at a short-term rental, encompassing everything from booking to check-out.
Bwe-Home Automation
The use of technology to automate aspects of a short-term rental, such as lighting, temperature control, and security.
Bwf-Keyless Entry
A system that allows guests to access a property without a physical key, using methods like keypads, smart locks, or mobile apps.
Bwg-Legal Compliance
Adhering to all local laws and regulations related to short-term rentals, including zoning ordinances, taxes, and safety requirements.
Bwh-Market Analysis
Researching and understanding the local short-term rental market, including competitor pricing, occupancy rates, and guest demographics.
Bwi-Noise Monitoring
The use of devices to monitor noise levels within a short-term rental property and prevent disturbances to neighbors.
Bwj-Occupancy Rate
The percentage of time a short-term rental property is booked over a specific period.
Bwk-Property Management Software
Specialized software designed to help manage various aspects of short-term rentals, including bookings, guest communication, and finances.
Bwl-Quality Assurance
Implementing systems and procedures to ensure the consistent quality of short-term rental properties and guest experiences.
Bwm-Revenue Management
Strategies and techniques used to maximize revenue from short-term rental properties, including pricing optimization and occupancy management.
Bwn-Safety and Security
Measures taken to ensure the safety and security of guests and the property, such as installing smoke detectors, carbon monoxide detectors, and security cameras.
Bwo-Target Market
The specific group of travelers a short-term rental property is aimed at attracting, based on factors like location, amenities, and pricing.
Bwp-Unified Inbox
A feature within property management software that consolidates guest messages from different platforms into a single inbox.
Bwq-Vacation Rental Agreement
A legally binding contract between the property owner/manager and the guest, outlining the terms and conditions of the stay.
Bwr-Wear and Tear
Normal deterioration of a property and its furnishings due to regular use by guests.
Bws-Yield Management
The practice of analyzing data and adjusting pricing to maximize revenue from a short-term rental property.
Bwt-Zero-Party Data
Data that guests willingly and proactively share with hosts, such as preferences and interests, to enhance their stay experience.
Bx-Booking Window
The period of time between when a guest makes a reservation and the actual check-in date.
Bxa-Business Travel Ready
A designation or set of amenities that cater to the specific needs of business travelers, such as high-speed internet, workspaces, and flexible check-in/out options.
Bxb-Cancellation Policy
The terms and conditions that outline the penalties or refunds associated with canceling a reservation, typically varying in flexibility depending on the time frame and
Bxc-Cleaning Fee
A separate charge added to the rental rate to cover the cost of cleaning the property between guest stays, ensuring a hygienic and presentable environment.
Bxd-Concierge Service
Personalized assistance provided to guests, often including recommendations, booking arrangements for activities, and other services that enhance their stay.
Bxe-Cross-Listing
The practice of advertising and accepting bookings for the same property on multiple platforms simultaneously, such as Airbnb and VRBO.
Bxf-Direct Booking
A reservation made directly through a host’s website or personal channels, bypassing third-party platforms and their associated fees.
Bxg-Early Check-in/Late Check-out
Options offered to guests to check in before or check out after the standard times, often subject to availability and potential additional fees.