Operations
67 termsA
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Cancellation PolicyThe rules governing refunds and penalties when a guest cancels a confirmed reservation.ChargebackA payment reversal initiated by a guest's bank or credit card company, disputing a vacation rental charge.Check-InThe process by which a guest arrives at and gains access to a vacation rental property at the start of their stay.Check-OutThe process by which a guest departs a vacation rental property at the end of their stay.Cleaning ChecklistA standardized list of cleaning and preparation tasks that must be completed during turnover between guest stays.Cleaning FeeA one-time charge added to a reservation to cover the cost of cleaning and preparing the property between guests.Contactless Check-InA guest arrival process that uses technology to enable property access without in-person interaction.
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.Damage WaiverA non-refundable fee that covers accidental guest damage, replacing the need for a traditional security deposit.Data PrivacyThe practices and regulatory requirements for collecting, storing, and processing guest personal information in vacation rentals.Dispute ResolutionThe process of handling and resolving conflicts between property managers and guests, including damage claims and refund requests.Double BookingWhen the same property is accidentally reserved by two different guests for overlapping dates.
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Gap NightAn unbooked night between two reservations that is too short to attract a new booking.Good Neighbor PolicyA set of community conduct rules that vacation rental guests must follow to minimize disturbance to surrounding residents.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.Guest CommunicationAll messaging and interactions between property managers and guests throughout the booking lifecycle.Guest JourneyThe complete end-to-end experience of a guest from initial property discovery through post-stay follow-up.Guest OnboardingGuest onboarding is the process of communicating property information, check-in instructions, and house rules to guests between booking confirmation and arrival.Guest RegistrationThe legal requirement for short-term rental operators to collect, record, and in many cases report guest identity information to local authorities.Guest ReviewWritten feedback and star rating left by a guest after their stay at a vacation rental property.Guest ScreeningThe process of verifying guest identity and evaluating risk before confirming a reservation.Guest VerificationGuest verification is the process of confirming a guest's identity through ID documents and platform checks before approving or completing a booking.
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Late Check-OutAn option allowing guests to depart after the standard checkout time, commonly offered as a paid upsell service.Liability InsuranceInsurance coverage that protects vacation rental operators against claims for guest injuries, property damage, or third-party losses.Linen ServiceA professional service providing clean bed linens and towels for vacation rental turnovers, either owned or rented.Lost and FoundThe process and policy for handling personal items left behind by guests at a vacation rental property.
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Maintenance RequestA report submitted by a guest, cleaner, or inspector documenting a needed repair or fix at a rental property.Maintenance ScheduleA planned calendar of preventive and routine maintenance tasks to keep vacation rental properties in optimal condition.Management AgreementA formal contract between a property owner and a management company defining responsibilities, fees, and terms of service.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.Minimum StayThe shortest number of nights a guest must book in order to reserve a property.
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Occupancy Tax ReportingThe process of calculating, filing, and remitting lodging or occupancy taxes collected from short-term rental guests to the appropriate government authorities.Owner OnboardingThe structured process of adding a new property and its owner to a vacation rental management company's portfolio.Owner StatementsFinancial reports generated for property owners showing rental income, expenses, and net payouts.
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Payment ProcessingThe handling of financial transactions for booking payments, refunds, and payouts in vacation rental management.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.Pet FeeA charge applied to guests who bring pets to a vacation rental property.Property Condition ReportA documented record of a vacation rental property's state before and after each guest stay.Property InspectionA systematic check of a vacation rental property's condition, safety features, and amenities.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.
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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.Rental QuoteA customized price estimate provided to a prospective guest for a specific property, dates, and guest configuration.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.
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Security DepositA refundable amount collected from guests to cover potential property damage during their stay.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.Short-Term Rental InsuranceSpecialized insurance coverage designed to protect vacation rental properties and hosts from risks specific to short-term renting.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.STR ComplianceThe process of meeting all legal, regulatory, and tax requirements for operating a short-term rental property.
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Task ManagementA system for assigning, tracking, and coordinating operational tasks like cleaning and maintenance across properties.Transient Occupancy Tax (TOT)A tax levied on short-term accommodation stays, collected from guests and remitted to local government.Trust AccountingA legally required accounting practice in some jurisdictions that separates owner funds from management company operating funds.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.TurnoverThe process of preparing a vacation rental for the next guest between check-out and check-in.
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