Outdoor Space Utilization
Strategies for maximizing the appeal and functionality of outdoor areas in a short-term rental property. This includes furnishing patios, creating comfortable seating areas, offering outdoor
Outsourced Revenue Management
Entrusting the pricing and availability strategy of a short-term rental to a specialized third-party company. These companies use data analysis and market trends to optimize
Outrank Competitor Listings
Employing strategies to achieve higher visibility and ranking for a short-term rental listing on platforms like Airbnb and VRBO. Techniques include optimizing listing content, securing
Outlier Guest Behavior
Unusual or unexpected actions exhibited by guests during their stay, often deviating from typical guest behavior patterns. This can include excessive noise complaints, property damage
Overbooking Prevention
Strategies and tools used to avoid double-booking a property across multiple short-term rental platforms.
Overnight Occupancy Limits
Local regulations or HOA rules that restrict the maximum number of guests allowed to stay overnight in a short-term rental property.
Overall Rating
The average score or rating given to a short-term rental property by previous guests, typically based on factors like cleanliness, accuracy, and communication.
Oversized Amenity Fee
An additional charge levied by hosts for the use of amenities that require significant upkeep or expense, such as a pool or hot tub.
Overcommunication Strategy
A proactive approach to guest communication that emphasizes providing detailed information and frequent updates to ensure a smooth and enjoyable stay.
Overcoming Booking Seasonality
Strategies and tactics employed by hosts to attract bookings during periods of low demand or off-season.
Overbooking Buffer
A strategic gap intentionally left in the booking calendar to accommodate unforeseen circumstances, such as last-minute cancellations or cleaning delays.
Overall Market Analysis
Research conducted to understand the supply, demand, and pricing trends within a specific short-term rental market.
Overcoming Language Barriers
Tools and techniques used by hosts to communicate effectively with guests who speak different languages.
Overcoming Negative Reviews
Strategies for mitigating the impact of negative guest reviews, including responding professionally, addressing concerns, and improving services.
Overstay Management
The process and procedures for handling situations where guests remain in a short-term rental property beyond their agreed-upon checkout time.
Overview Effect in Marketing
Utilizing the psychological impact of showcasing breathtaking, wide-angle imagery of a rental property’s location to evoke a sense of awe and attract potential guests.
Oversupply Risk Assessment
Analyzing market trends and competitor data to evaluate the potential impact of an oversaturation of short-term rental properties on occupancy rates and profitability.
Overtourism Mitigation
Strategies implemented by hosts and property managers to minimize the negative impacts of short-term rentals on local communities, such as noise pollution, traffic congestion, and
Overlay District Regulations
Specific zoning laws and ordinances implemented in certain areas to regulate short-term rental operations, often imposing additional restrictions or requirements beyond general city or county
Overcoming Guest Apprehension
Techniques used by hosts to alleviate common concerns and anxieties potential guests may have about booking a short-term rental, such as safety, cleanliness, or communication.
Overcoming Cultural Barriers
Strategies for hosts to effectively communicate and cater to guests from diverse cultural backgrounds, ensuring a welcoming and comfortable experience for all.
Overcoming Booking Abandonment
Implementing tactics to reduce the rate at which potential guests initiate but do not complete the booking process, such as streamlined booking forms, user-friendly interfaces,
Overcoming Accessibility Challenges
Making necessary modifications and accommodations to a short-term rental property to ensure it is accessible and welcoming to guests with disabilities, complying with relevant laws
Owner-Occupied Listing
A short-term rental property where the owner resides on-site during a guest’s stay, typically in a separate unit or area.
Owner Statement
A monthly or quarterly report provided by Airbnb or VRBO to property owners, detailing reservation details, payouts, and fees.
Ownership Structure
The legal and financial framework under which a short-term rental property is owned, such as sole proprietorship, partnership, or LLC.
Owner’s Portal
An online platform provided by a property management company or platform like Airbnb/VRBO, allowing owners to access property performance data, financial reports, and manage settings.
Owner’s Equity
The portion of a short-term rental property’s value that the owner owns outright, calculated as the property’s market value minus any outstanding mortgages or loans.
Owner-Guest Communication
The exchange of information and interaction between a short-term rental owner/manager and their guests, encompassing pre-booking inquiries, booking confirmations, check-in instructions, and post-stay feedback.
Owner-Manager Agreement
A legally binding contract outlining the terms of service and responsibilities between a short-term rental property owner and a property manager.
Owner’s Insurance
A specialized insurance policy designed to cover short-term rental properties, offering protection against liabilities, property damage, and loss of income.
Owner’s Title Insurance
A form of insurance that protects property owners from financial losses arising from disputes or defects related to the property’s title or ownership history.
Owner’s Discretion
Decisions and actions taken by a short-term rental property owner regarding their property, pricing, guest selection, and overall management, typically within the bounds of platform
Owner-Driven Pricing
A pricing strategy where short-term rental property owners manually set their rental rates based on factors like seasonality, demand, competition, and their own financial goals.
Owner-Managed Listing
A short-term rental property that is managed directly by the owner, handling all aspects from listing creation to guest communication and cleaning.
Owner-Guest Agreement
A contract outlining the terms and conditions of a short-term rental stay, agreed upon by both the property owner/manager and the guest, typically covering house
Owner’s Association (HOA) Rules
Regulations and guidelines set by a homeowner’s association that may impact short-term rental operations, such as limitations on rental duration, occupancy limits, or restrictions on
Ownership Costs
Expenses associated with owning a short-term rental property, encompassing mortgage payments, property taxes, insurance premiums, utilities, maintenance, and potential HOA fees.
Owner’s Net Income
The profit generated from a short-term rental property after deducting all operating expenses, including cleaning fees, property management fees, and platform commissions, from the rental
Owner’s Statement of Account
A financial document provided by a property manager to the owner, outlining all income generated and expenses incurred for a specific period, typically monthly or
Owner-Operator
An individual or entity that both owns and directly manages a short-term rental property, handling all aspects of the business from guest communication to cleaning
Owner’s Risk Assessment
The process of identifying and evaluating potential risks associated with owning and operating a short-term rental, including property damage, liability claims, legal disputes, and market
Owner’s Manual
A comprehensive guide provided to guests staying at a short-term rental, containing information about the property, appliances, amenities, house rules, local recommendations, and emergency contact
Oxymoron Marketing
A marketing technique that uses seemingly contradictory elements to create a memorable and attention-grabbing message, often used in short-term rental listings to highlight unique features
Peak Season
The time of year when demand for short-term rentals is highest, typically coinciding with holidays, school breaks, and favorable weather conditions.
Property Access
The method by which guests can enter and exit a short-term rental property, such as keyless entry, lockboxes, or meeting the host in person.
Property Damage Protection
Insurance or security deposit policies that protect hosts from financial losses due to accidental or intentional damage caused by guests.
Property Manager
An individual or company hired by a property owner to handle the day-to-day operations of a short-term rental, including guest communication, cleaning, and maintenance.
Platform Fees
The charges levied by online platforms like Airbnb and VRBO for listing and booking short-term rentals.
Per-Night Pricing
A pricing strategy where the rental rate is set for each night of the stay.
Permitting
The process of obtaining the necessary licenses and permits from local authorities to legally operate a short-term rental.
Photo Enhancement
The practice of digitally improving the quality and appeal of property photographs for online listings.
Price Parity
The strategy of maintaining consistent pricing for a short-term rental across multiple booking platforms.
Professional Cleaning
The hiring of trained and insured cleaning services to thoroughly clean and sanitize a short-term rental between guest stays.
Property Listing
The online profile of a short-term rental property, featuring descriptions, photos, amenities, and availability information.
Payment Processing
The system used to securely handle financial transactions between guests and hosts, typically facilitated by online platforms.
Passive Income
Earnings generated from a short-term rental property with minimal effort or time investment from the owner, often achieved through property management services.
Personalized Experience
Tailoring the guest experience to individual preferences and needs, such as providing local recommendations or offering customized amenities.
Prime Location
A highly desirable and sought-after area for travelers, often characterized by proximity to attractions, transportation, and amenities.
Property Valuation
The process of determining the market value of a short-term rental property, considering factors like location, size, and amenities.
Promotional Pricing
Offering discounted rates or special offers to attract bookings, especially during low season or for last-minute reservations.
Property Rules
Guidelines and restrictions established by the host for guests staying at their short-term rental, such as no smoking or pet policies.
Property Technology (PropTech)
Technological innovations and software solutions designed to enhance and streamline various aspects of short-term rental management.
Profit Margin
The profitability of a short-term rental, calculated by subtracting expenses (cleaning, fees, etc.) from rental income.
Pandemic Pricing
The fluctuation of short-term rental pricing during the COVID-19 pandemic and its aftermath, often characterized by initial dips followed by significant increases.
Partial Occupancy
A situation in short-term rentals where a property is booked for only a portion of the available dates within a given period.
Packet of Information
A collection of documents, often digital, provided to guests in short-term rentals, containing property information, house rules, local recommendations, and emergency contacts.
Parking Pass
A physical or digital permit provided to guests in short-term rentals, granting them access to designated parking areas, often required in urban locations.
Paid Acquisition
Marketing efforts that involve spending money to drive traffic to your listings, such as through online advertising or social media campaigns.
Package Deals
Bundling your short-term rental with other services or experiences, like airport transfers, tours, or meals, to create a more attractive offer for guests.
Pandemic Protocol
Specific cleaning and sanitation procedures implemented in response to health concerns like pandemics, often exceeding standard cleaning practices.
Partial Home Rental
Renting out a portion of your primary residence, such as a spare room or basement apartment, while you continue to live in the property.
Pay-Per-Click (PPC) Advertising
An online advertising model where you pay a fee each time a user clicks on your ad, commonly used to promote listings on platforms like
Payment Gateway
A service that securely authorizes and processes credit card payments made by guests booking your short-term rental.
Patio Furniture
Outdoor furniture specifically chosen for a rental property’s patio or deck area to enhance guest comfort and experience.
Panic Button
A physical or virtual button that allows hosts and guests to quickly contact emergency services or designated contacts in case of an emergency.
Party Policy
Clearly defined rules and regulations set by hosts regarding parties or large gatherings at their short-term rental property.
Payout Schedule
The predetermined timeframe in which platforms like Airbnb and VRBO release rental earnings to hosts after guest check-in.
Passive Investing
A hands-off approach to short-term rental investing where property management and operations are outsourced to a third-party company.
PbFree
Refers to properties or amenities within a short-term rental that are compliant with lead-free regulations, particularly concerning paint and plumbing.
PbR (Price-by-Room)
A pricing strategy used by some property management systems and online travel agencies where the total cost of a stay is calculated based on the
PbA (Property-based Advertising)
A type of digital advertising that targets potential guests based on their interest in specific properties or destinations, often used on platforms like Airbnb and
PbD (Property Damage Protection)
Insurance or security deposits that protect hosts from financial losses due to accidental or intentional damage caused by guests during their stay.
PbI (Property Inspection)
Regular assessments of a rental property’s condition, cleanliness, and safety to ensure it meets hosting standards and guest expectations.
PbL (Property Listing)
A detailed description of a rental property on platforms like Airbnb and VRBO, showcasing its features, amenities, photos, and pricing to attract potential guests.
PbM (Property Management)
The professional oversight of a short-term rental property, including tasks like guest communication, booking management, cleaning, maintenance, and marketing.
PbO (Property Owner)
An individual or entity that holds legal ownership of a short-term rental property listed on platforms like Airbnb and VRBO.
PbR (Property Review)
Feedback and ratings provided by guests after their stay at a short-term rental, influencing the property’s reputation and visibility on platforms like Airbnb and VRBO.
PbS (Property Software)
Digital tools and platforms designed to streamline various aspects of short-term rental management, including booking calendars, guest communication, pricing optimization, and financial tracking.
PbT (Property Taxes)
Local government levies imposed on the assessed value of a short-term rental property, often subject to specific regulations and rates.
PbU (Property Utilization)
A measure of how effectively a short-term rental property is being booked and occupied over a given period, often expressed as an occupancy rate.
PbV (Property Value)
The estimated market worth of a short-term rental property, influenced by factors like location, condition, amenities, and rental income potential.
PbW (Property Website)
A dedicated online platform for a short-term rental property, providing detailed information, photos, booking options, and potentially bypassing third-party platforms like Airbnb and VRBO.
PbX (Property Experience)
The overall impression and satisfaction that guests have during their stay at a short-term rental, encompassing factors like communication, cleanliness, amenities, and local recommendations.
PbY (Property Yield)
The financial return generated by a short-term rental property, calculated by dividing the net rental income by the property’s value or investment cost.
PbZ (Property Zoning)
Local government regulations that dictate how land and properties can be used, potentially impacting the legality and operation of short-term rentals in certain areas.
PbC (Price-by-Channel)
A pricing strategy where short-term rental rates are dynamically adjusted based on the specific listing platform or channel, such as Airbnb, VRBO, or Booking.com, to
PbN (Personalized Notifications)
The practice of sending customized messages or alerts to guests at various stages of their booking journey, from pre-arrival instructions to post-stay feedback requests, to
PbQ (Professional Quality)
Maintaining a high standard of cleanliness, amenities, and overall guest experience in a short-term rental property to meet or exceed guest expectations and garner positive
PcOccupancy Rate
The percentage of time a short-term rental property is booked and occupied by guests over a specific period.