Vacation Rental Glossary

Comprehensive glossary of vacation rental and property management terms. Learn the key concepts behind short-term rental management.

230 terms

Technology (29)Industry (53)Metrics (36)Operations (67)Strategy (34)Hostaway (11)

A

Accessible PropertyA vacation rental property that is designed or adapted to accommodate guests with disabilities or mobility limitations.Operations ADUAn ADU (accessory dwelling unit) is a secondary housing unit on a single-family property — such as a garage apartment or backyard cottage — often used as a short-term rental.Industry AI PricingThe use of artificial intelligence and machine learning to automatically optimize vacation rental nightly rates in real time.Technology AirbnbAirbnb is the world's largest online marketplace for vacation rentals, homestays, and short-term rental experiences.Industry Airbnb Co-Host NetworkAirbnb's official marketplace connecting property owners with experienced co-hosts who manage their listings.Industry AmenityA feature, facility, or service provided at a vacation rental that adds value to the guest experience.Industry Ancillary RevenueAdditional income earned from upsells, add-on services, and experiences beyond the base accommodation charge.Metrics Anti-Discrimination PolicyRules and legal requirements ensuring vacation rental hosts do not discriminate against guests based on protected characteristics.Operations AparthotelA hybrid accommodation combining hotel-style services with apartment-style living spaces.Industry API ConnectionAn API connection is a technical integration that allows two software platforms to exchange data automatically, enabling vacation rental tools to work together in real time.Technology Automated MessagesPre-written guest communications that are automatically sent based on booking events or scheduled timing.Technology Automated Review ResponseAutomated review response uses templates or AI to reply to guest reviews on booking platforms without requiring manual input for each response.Technology Average Booking ValueAverage booking value is the mean total revenue generated per confirmed reservation, including accommodation fees, cleaning fees, and any additional charges.Metrics Average Daily Rate (ADR)The average revenue earned per occupied rental night over a given period.Metrics

B

Base RateThe foundational nightly price for a vacation rental before any fees, taxes, or dynamic pricing adjustments are applied.Strategy Bleisure TravelA travel trend where business trips are extended to include leisure activities and personal vacation time.Industry Booking ConfirmationAn official acknowledgment sent to a guest confirming that their vacation rental reservation has been secured.Operations Booking EngineA software tool embedded on a property manager's website that enables guests to search availability and book directly.Technology Booking ModificationA change made to an existing vacation rental reservation, such as adjusting dates, guest count, or property selection.Operations Booking PaceThe rate at which reservations are being made for future dates compared to the same period in prior years.Metrics Booking SourceThe channel or platform where a reservation originates, used for attribution tracking and marketing analysis.Metrics Booking WindowThe amount of time between when a reservation is made and the actual check-in date.Metrics Booking.comBooking.com is a leading global online travel agency with a massive international audience, particularly strong across European markets.Industry Boutique HotelA boutique hotel is a small, design-forward independent hotel — typically under 100 rooms — known for distinctive character and personalized service.Industry Break-Even OccupancyThe minimum occupancy rate a vacation rental must achieve to cover all operating costs without generating a loss.Metrics Business LicenseA business license is a government-issued permit authorizing an operator to conduct short-term rental activities as a commercial business in a specific jurisdiction.Strategy Business TravelTrips taken for professional purposes, with an increasing share of business travelers choosing vacation rentals over traditional hotels.Industry

C

CabinA cozy, often rustic vacation rental property typically located in mountain, forest, lake, or rural settings.Industry Cancellation PolicyThe rules governing refunds and penalties when a guest cancels a confirmed reservation.Operations Cap RateA real estate metric that measures the annual return on an investment property based on its net operating income.Metrics Cash FlowThe net amount of money moving into and out of a vacation rental business over a specific period, reflecting its financial health and liquidity.Metrics Cash-on-Cash ReturnCash-on-cash return measures annual rental income as a percentage of the cash invested in a property, used to evaluate short-term rental investment performance.Metrics Certificate of OccupancyA certificate of occupancy is an official document confirming a property meets building codes and is legally approved for residential or commercial use.Strategy ChaletA vacation rental property typically found in mountainous or ski resort areas, characterized by wooden architecture and alpine charm.Industry Channel ManagerSoftware that synchronizes property listings, availability, and pricing across multiple booking platforms.Technology ChargebackA payment reversal initiated by a guest's bank or credit card company, disputing a vacation rental charge.Operations Check-InThe process by which a guest arrives at and gains access to a vacation rental property at the start of their stay.Operations Check-OutThe process by which a guest departs a vacation rental property at the end of their stay.Operations Cleaning ChecklistA standardized list of cleaning and preparation tasks that must be completed during turnover between guest stays.Operations Cleaning FeeA one-time charge added to a reservation to cover the cost of cleaning and preparing the property between guests.Operations Co-HostA person who helps manage a vacation rental property on behalf of the primary host, sharing responsibilities and revenue.Industry Commission RateThe percentage of rental revenue charged by a property management company or booking platform as compensation for their services.Metrics Comp SetA group of comparable vacation rental properties used for benchmarking performance and pricing.Metrics CondoAn individually owned residential unit within a larger building or complex, commonly used as a vacation rental in urban and resort markets.Industry Contactless Check-InA guest arrival process that uses technology to enable property access without in-person interaction.Operations Conversion RateThe percentage of listing views or booking inquiries that result in confirmed reservations.Metrics Corporate HousingFully furnished rental properties leased to business travelers and professionals on extended work assignments, typically for 30 days or more.Industry CottageA small, charming vacation rental property typically situated in a rural, coastal, or countryside setting.Industry CRMCustomer relationship management software used to track guest interactions, preferences, and communication for retention and remarketing.Technology Customer Acquisition CostThe total cost of marketing, commissions, and operational effort required to secure a new guest booking.Metrics

D

Damage ProtectionDamage protection covers the cost of guest-caused property damage during a stay, either through a security deposit, host insurance, or a platform-provided guarantee.Operations Damage WaiverA non-refundable fee that covers accidental guest damage, replacing the need for a traditional security deposit.Operations Data PrivacyThe practices and regulatory requirements for collecting, storing, and processing guest personal information in vacation rentals.Operations Demand ForecastingThe use of data and analytics to predict future booking demand for vacation rental properties.Strategy DepreciationA tax deduction that accounts for the gradual wear, deterioration, and aging of a rental property over its useful life.Metrics Digital GuidebookA digital guidebook is an online resource hosts provide to guests with property instructions, local recommendations, and essential information accessible by smartphone.Technology Digital Nomad VisaA special residence permit allowing remote workers to live and work in a foreign country for an extended period.Industry Direct BookingA reservation made directly with a property manager's own website, bypassing OTA platforms and their commission fees.Industry Direct Booking WebsiteA property manager's own branded website where guests can search availability and book without going through an OTA.Strategy Dispute ResolutionThe process of handling and resolving conflicts between property managers and guests, including damage claims and refund requests.Operations Double BookingWhen the same property is accidentally reserved by two different guests for overlapping dates.Operations Dynamic PricingAn automated pricing strategy that adjusts nightly rates in real-time based on demand, competition, and market conditions.Technology

E

Early Check-InAn option allowing guests to arrive and access the property before the standard check-in time, often offered as a paid upsell.Operations Email MarketingThe use of targeted email campaigns to nurture past guest relationships, encourage repeat bookings, and drive direct reservations.Strategy Event-Driven PricingA pricing strategy that adjusts vacation rental rates based on local events, festivals, and occasions that spike demand.Strategy Experience EconomyThe experience economy describes a shift in consumer spending toward immersive, memorable experiences over material goods, directly shaping how travelers choose and value vacation rentals.Industry Extended StayExtended stay refers to accommodation designed for guests staying 30 days or longer, with amenities like full kitchens and discounted weekly or monthly rates.Industry Extra Guest FeeAn additional nightly charge applied when the number of guests exceeds the base occupancy included in the rate.Operations

F

Family TravelFamily travel refers to leisure trips taken by households with children, a major guest segment that prioritizes space, safety, and kitchen facilities in vacation rentals.Industry

G

Gap NightAn unbooked night between two reservations that is too short to attract a new booking.Operations GlampingA form of luxury outdoor accommodation that combines camping with hotel-like amenities and comforts.Industry Good Neighbor PolicyA set of community conduct rules that vacation rental guests must follow to minimize disturbance to surrounding residents.Operations Google Vacation Rental AdsGoogle Vacation Rental Ads are property listings that appear directly in Google Search and Google Maps results, allowing vacation rentals to reach travelers outside of OTA platforms.Strategy Google Vacation RentalsGoogle's commission-free metasearch platform that displays vacation rental listings directly in Google Search and Maps.Technology GOPPARGOPPAR (Gross Operating Profit Per Available Room) measures a vacation rental's profitability by dividing gross operating profit by the total nights available in a period.Metrics Gross Booking Value (GBV)The total monetary value of all bookings before any deductions for commissions, fees, or expenses are applied.Metrics Gross Rental IncomeThe total revenue generated from a vacation rental property before subtracting any operating expenses, management fees, or taxes.Metrics Group BookingA group booking is a vacation rental reservation made for a large party — typically eight or more guests — often for special occasions, reunions, or corporate retreats.Operations Guest CommunicationAll messaging and interactions between property managers and guests throughout the booking lifecycle.Operations Guest FeeA guest fee (or guest service fee) is a charge added to a guest's booking total by an OTA platform on top of the nightly rate set by the host.Metrics Guest JourneyThe complete end-to-end experience of a guest from initial property discovery through post-stay follow-up.Operations Guest Lifetime Value (LTV)The total revenue a property manager can expect from a single guest across all their bookings over time.Metrics Guest OnboardingGuest onboarding is the process of communicating property information, check-in instructions, and house rules to guests between booking confirmation and arrival.Operations Guest PersonaA profile representing a specific traveler segment that a vacation rental targets, based on demographics, preferences, and booking behavior.Strategy Guest PortalA digital interface where guests can access booking details, check-in instructions, and property information.Technology Guest RegistrationThe legal requirement for short-term rental operators to collect, record, and in many cases report guest identity information to local authorities.Operations Guest ReviewWritten feedback and star rating left by a guest after their stay at a vacation rental property.Operations Guest SatisfactionA systematic measure of how well a vacation rental experience meets or exceeds guest expectations, often tracked via surveys or reviews.Metrics Guest ScreeningThe process of verifying guest identity and evaluating risk before confirming a reservation.Operations Guest VerificationGuest verification is the process of confirming a guest's identity through ID documents and platform checks before approving or completing a booking.Operations

H

Holiday PricingPremium nightly rates applied during holidays and high-demand periods to maximize revenue from predictable surges in travel demand.Strategy HomesharingHomesharing is the practice of renting out a room or portion of your primary residence to guests while you continue living in the home.Industry HospitalityHospitality is the industry encompassing lodging, food service, and guest experiences, including short-term rentals and vacation properties.Industry Host FeeA host fee is a service charge deducted from a host's payout by an OTA platform, typically ranging from 3% to 15% of the booking subtotal.Metrics Host PermitA host permit (or STR permit) is a property-specific authorization required by many cities for operators to legally rent a home on a short-term basis.Strategy Hostaway AIHostaway's native artificial intelligence features for automated guest communication and operational optimization.Hostaway Hostaway AnalyticsHostaway's reporting and business intelligence tools for vacation rental performance tracking.Hostaway Hostaway AutomationHostaway's workflow automation tools that streamline repetitive property management tasks.Hostaway Hostaway CapitalHostaway's financing program that provides property managers with funding to grow their rental business.Hostaway Hostaway Channel ManagerHostaway's built-in channel management tool that syncs listings across 200+ booking platforms in real-time.Hostaway Hostaway Direct BookingHostaway's website builder and booking engine that enables commission-free direct reservations.Hostaway Hostaway Dynamic PricingHostaway's built-in dynamic pricing tool that automatically optimizes nightly rates based on market data.Hostaway Hostaway Guest CommunicationHostaway's unified inbox and automated messaging system for managing all guest interactions.Hostaway Hostaway MarketplaceHostaway's ecosystem of 200+ integrated third-party tools and services for vacation rental management.Hostaway Hostaway PMSHostaway's all-in-one property management system for managing vacation rental operations at scale.Hostaway Hostaway Smart LocksHostaway's smart lock integrations that enable automated keyless access for guests.Hostaway House RulesA set of guidelines and expectations that guests must follow during their stay at a vacation rental.Operations HouseboatA floating residential vessel used as a vacation rental, offering a distinctive waterfront accommodation experience.Industry HousekeepingThe cleaning, sanitation, and preparation process performed between guest stays to maintain vacation rental quality standards.Operations

I

iCalA calendar file format used to synchronize availability between booking platforms and calendar applications.Technology InquiryA pre-booking message from a prospective guest asking about availability, pricing, or property details before committing.Operations Instant BookA booking setting that allows guests to reserve a property immediately without requiring host approval.Industry Inventory ManagementThe process of tracking and replenishing supplies, amenities, furnishings, and consumables across vacation rental properties.Operations

K

Key ExchangeThe traditional process of physically handing off property keys to guests upon arrival at a vacation rental.Operations Keyless EntryKeyless entry systems allow vacation rental guests to access a property using a code, smartphone, or smart lock instead of a physical key.Technology Keypad LockA code-based door lock that enables self-check-in for vacation rental guests without physical keys.Technology

L

Last-Minute BookingA reservation made within a short window before the check-in date, typically 1–7 days prior.Industry Late Check-OutAn option allowing guests to depart after the standard checkout time, commonly offered as a paid upsell service.Operations Length of Stay (LOS)The total number of nights a guest stays at a property during a single reservation.Metrics Length-of-Stay DiscountA reduced nightly rate offered to guests who book longer stays, such as weekly or monthly reservations.Strategy Liability InsuranceInsurance coverage that protects vacation rental operators against claims for guest injuries, property damage, or third-party losses.Operations Linen ServiceA professional service providing clean bed linens and towels for vacation rental turnovers, either owned or rented.Operations ListingA property profile published on a booking platform, containing descriptions, photos, pricing, and availability.Industry Listing OptimizationThe process of improving a vacation rental listing's content, photos, and settings to increase visibility and bookings.Strategy Listing SEOListing SEO is the practice of optimizing a vacation rental's title, description, amenities, and photos to rank higher in booking platform and search engine results.Strategy Lodging TaxLodging tax (also called transient occupancy tax) is a government-imposed tax on short-term rental stays that hosts are required to collect from guests and remit to authorities.Strategy Lost and FoundThe process and policy for handling personal items left behind by guests at a vacation rental property.Operations

M

Maintenance RequestA report submitted by a guest, cleaner, or inspector documenting a needed repair or fix at a rental property.Operations Maintenance ScheduleA planned calendar of preventive and routine maintenance tasks to keep vacation rental properties in optimal condition.Operations Management AgreementA formal contract between a property owner and a management company defining responsibilities, fees, and terms of service.Operations Management FeeThe percentage or flat fee charged by a property management company to an owner for managing their vacation rental.Metrics Maximum OccupancyMaximum occupancy is the legally or contractually set limit on the number of guests permitted to stay in a rental property at any one time.Operations Metasearch EngineA travel platform that aggregates and compares vacation rental listings from multiple booking sites without taking commissions.Technology Micro-Season PricingAn advanced pricing strategy that uses 75+ granular time periods instead of traditional quarterly seasons.Strategy Mid-Term RentalA furnished property rented for 1 to 6 months, bridging the gap between short-term and long-term rentals.Industry Minimum StayThe shortest number of nights a guest must book in order to reserve a property.Operations Multi-CalendarA consolidated calendar view showing availability and bookings across all properties and channels in one place.Technology

N

Net Promoter Score (NPS)Net Promoter Score (NPS) is a guest loyalty metric that measures how likely guests are to recommend a vacation rental property or management company.Metrics Net RevenueThe revenue a property manager retains after subtracting OTA commissions, payment processing fees, and platform costs.Metrics Nightly RateThe price charged per night for a vacation rental stay.Metrics No-ShowWhen a guest with a confirmed reservation fails to arrive at the property on their check-in date.Operations NOI (Net Operating Income)Total rental revenue minus all operating expenses, before debt service and income taxes.Metrics Noise MonitoringPrivacy-safe devices that detect excessive noise levels at vacation rental properties to prevent disturbances.Technology

O

Occupancy RateThe percentage of available rental nights that are booked over a given period.Metrics Occupancy Tax ReportingThe process of calculating, filing, and remitting lodging or occupancy taxes collected from short-term rental guests to the appropriate government authorities.Operations Off-SeasonThe period of lowest travel demand when vacation rental occupancy and rates are typically at their minimum.Strategy Open APIA publicly available programming interface that allows third-party developers to integrate with a platform.Technology Operating ExpensesThe recurring costs required to manage and maintain a vacation rental property, including cleaning, maintenance, utilities, insurance, and management fees.Metrics Orphan DaysOrphan days are short gaps between bookings in a vacation rental calendar that are too brief to attract new reservations at standard minimum stays.Strategy OTA (Online Travel Agency)A website or platform where travelers search for and book vacation rentals and accommodations online.Industry Owner OnboardingThe structured process of adding a new property and its owner to a vacation rental management company's portfolio.Operations Owner PortalA dedicated dashboard where property owners can view their rental performance, bookings, and financial statements.Technology Owner StatementsFinancial reports generated for property owners showing rental income, expenses, and net payouts.Operations

P

Payment ProcessingThe handling of financial transactions for booking payments, refunds, and payouts in vacation rental management.Operations PayoutThe disbursement of rental earnings from a property management company or booking platform to the property owner or host after deducting applicable fees and expenses.Operations Peak SeasonThe time of year with the highest travel demand, when vacation rental rates and occupancy are at their maximum.Strategy PenthouseA premium upper-floor vacation rental unit offering luxury amenities, panoramic views, and high-end finishes.Industry Pet FeeA charge applied to guests who bring pets to a vacation rental property.Operations Pet-Friendly HostingPet-friendly hosting means explicitly welcoming guests traveling with pets and adapting a vacation rental's policies, amenities, and pricing to accommodate animals.Strategy Price OptimizationPrice optimization is the strategic process of setting vacation rental rates to maximize revenue by balancing occupancy, nightly rate, and booking lead time.Strategy Professional HostA professional host is an operator who manages short-term rental properties as a primary business, typically overseeing multiple listings with systems and staff.Industry Promotional RateA temporary discounted nightly price used to stimulate bookings during a specific period or for a targeted purpose.Strategy Property Condition ReportA documented record of a vacation rental property's state before and after each guest stay.Operations Property InspectionA systematic check of a vacation rental property's condition, safety features, and amenities.Operations Property Management CompanyA business that manages vacation rental properties on behalf of property owners for a fee or revenue share.Industry Property Management System (PMS)A centralized software platform for managing all aspects of vacation rental operations.Technology Property ManagerA property manager in the STR industry is a professional who oversees the operations of vacation rental properties on behalf of property owners, for a fee.Industry Property PortfolioThe total collection of rental properties managed by a property manager or management company.Industry Property StagingProperty staging for vacation rentals is the process of furnishing, decorating, and styling a rental space to maximize guest appeal in listing photos and during stays.Operations ProptechProptech (property technology) refers to software and digital tools that automate and optimize real estate and rental property operations.Technology

R

Rate ParityA policy or contractual requirement that vacation rental pricing remains consistent across all booking platforms.Strategy Rate PlanA named pricing configuration that defines nightly rates, minimum stays, and fees for specific time periods or conditions.Strategy Rate ShoppingThe practice of monitoring competitor pricing to inform rate decisions and maintain competitive positioning in a market.Strategy Rental ArbitrageA business model where an operator leases properties long-term and rents them out as short-term vacation rentals for profit.Industry Rental Day LimitA legal restriction imposed by local governments that caps the total number of days a property can be rented as a short-term rental per year.Operations Rental QuoteA customized price estimate provided to a prospective guest for a specific property, dates, and guest configuration.Operations Repeat GuestA traveler who books the same property or with the same host or management company more than once.Strategy Request to BookRequest to book is a booking flow where guests submit a reservation request that the host must manually review and approve before the booking is confirmed.Operations Response RateThe percentage of guest inquiries a host replies to within a specified timeframe, typically 24 hours.Metrics Return on Investment (ROI)Return on investment (ROI) is a financial metric measuring the profitability of a vacation rental property relative to its total investment cost.Metrics Revenue ManagementThe strategic use of analytics and pricing to maximize rental income from available inventory.Strategy Revenue Management System (RMS)Specialized software that uses data analytics to optimize vacation rental pricing and maximize revenue across a portfolio.Technology Review ManagementReview management is the systematic process of monitoring, responding to, and leveraging guest reviews to protect a vacation rental's reputation and improve booking conversion.Strategy RevPAN (Revenue Per Available Night)A vacation rental performance metric measuring total revenue generated per available rental night.Metrics RevPAR (Revenue Per Available Room)A metric that measures revenue generated per available rental night, combining occupancy and rate performance.Metrics

S

Same-Day BookingA reservation made and completed on the same day as the guest's check-in date.Industry Seasonal PricingA pricing strategy that adjusts nightly rates based on predictable demand patterns throughout the year.Strategy Security DepositA refundable amount collected from guests to cover potential property damage during their stay.Operations Self Check-InSelf check-in allows guests to access a vacation rental property independently using a keypad, smart lock, or lockbox — without requiring the host to be present.Operations Service FeeA fee charged by booking platforms to guests, hosts, or both to cover the cost of facilitating the reservation.Industry Serviced ApartmentA serviced apartment is a fully furnished rental unit with hotel-like amenities and housekeeping, designed for stays typically ranging from a few days to several months.Industry Set-JettingA travel trend where tourists visit destinations featured in popular movies, TV shows, or streaming content.Industry Sharing EconomyThe sharing economy is an economic model where individuals rent or share underutilized assets — like homes or vehicles — peer-to-peer through digital platforms.Industry Short-Term Rental (STR)A property rented for short periods, typically fewer than 30 consecutive days.Industry Short-Term Rental InsuranceSpecialized insurance coverage designed to protect vacation rental properties and hosts from risks specific to short-term renting.Operations Short-Term Rental PermitA government-issued authorization that grants property owners or managers the legal right to operate a short-term rental in a specific jurisdiction.Operations Shoulder SeasonThe transition period between peak and off-season when demand and pricing are moderate.Strategy Slow TravelSlow travel is a travel philosophy centered on spending longer periods in fewer destinations to experience local culture more deeply, driving demand for longer vacation rental stays.Industry Smart LockAn electronic lock that allows keyless property access using codes, apps, or other digital credentials.Technology Smart PricingSmart pricing is automated rate-setting technology that adjusts vacation rental nightly rates in real time based on demand signals, market data, and booking patterns.Strategy Social ProofSocial proof in vacation rentals refers to evidence from past guests — reviews, ratings, photos, and endorsements — that builds trust and confidence in prospective bookers.Strategy Solo TravelSolo travel refers to trips taken by individuals traveling alone, a growing guest segment with specific preferences for location, safety, and value in vacation rental accommodations.Industry STR BanA regulatory prohibition or severe restriction on short-term rental operations imposed by a local government or HOA.Industry STR ComplianceThe process of meeting all legal, regulatory, and tax requirements for operating a short-term rental property.Operations SuperhostAn Airbnb recognition badge awarded to hosts who consistently deliver exceptional guest experiences.Industry

T

Task ManagementA system for assigning, tracking, and coordinating operational tasks like cleaning and maintenance across properties.Operations Tiny HouseA compact, often creatively designed vacation rental property typically under 400 square feet, popular as a unique stay experience.Industry TownhouseA multi-story residential property sharing walls with adjacent units, commonly used as a vacation rental in urban and resort areas.Industry Transient Occupancy Tax (TOT)A tax levied on short-term accommodation stays, collected from guests and remitted to local government.Operations TreehouseAn elevated vacation rental built in or around trees, offering a unique and memorable guest experience in natural settings.Industry TRevPARTRevPAR (Total Revenue Per Available Room) measures all revenue streams — accommodation, fees, and ancillary services — generated per available room night.Metrics Tripadvisor RentalsTripadvisor Rentals is a vacation rental listing channel leveraging Tripadvisor's massive review-driven travel audience for property discovery.Industry Trust AccountingA legally required accounting practice in some jurisdictions that separates owner funds from management company operating funds.Operations Trust and SafetyTrust and safety in vacation rentals refers to the policies, tools, and verification systems that protect both guests and hosts from fraud, damage, and unsafe experiences.Operations TurnoverThe process of preparing a vacation rental for the next guest between check-out and check-in.Operations Two-Way SyncTwo-way sync automatically keeps calendar availability and reservation data updated in both directions between a property management system and connected booking channels.Technology

U

Unified InboxA centralized messaging hub that consolidates guest communications from all booking channels into one interface.Technology Unit EconomicsUnit economics measures the revenue, costs, and profitability of a single rental property, helping operators assess performance at the individual asset level.Metrics UpsellingOffering guests additional services or upgrades to increase the total revenue per booking.Strategy User RolesPermission levels assigned to team members within property management software to control access to features, data, and operations.Technology

V

Vacation RentalA furnished property rented to travelers on a short-term basis as an alternative to hotel accommodation.Industry Vacation Rental SoftwareTechnology platforms designed to help property managers automate and streamline vacation rental operations at scale.Technology VillaA luxury standalone vacation rental property, often featuring a private pool, spacious grounds, and premium amenities.Industry Virtual TourAn interactive 3D walkthrough of a vacation rental property that allows prospective guests to explore the space remotely.Technology VrboVrbo is a major vacation rental marketplace owned by Expedia Group, focused on whole-home rentals for families and groups.Industry

W

WebhookAn automated notification sent from one system to another when a specific event occurs.Technology Welcome BookA guest-facing guide containing property instructions, house rules, local recommendations, and emergency contact information.Operations WorkationA trip where travelers combine remote work with vacation, staying at destinations where they can be productive and enjoy leisure time.Industry

Y

Yield ManagementA pricing strategy that adjusts rates based on predicted demand to maximize total revenue.Strategy

Z

Zoning LawsLocal government regulations that define how properties in specific geographic areas can be used, including whether short-term rentals are permitted.Operations