Confused about any short-term rentaland Airbnb terminology? Don’t be. Our glossary will get you up to speed with the lingo in no time!
Advertising rate: The advertising rate is the price listed for the property that does not include fees or charges.
Amenities: Amenities are the features and facilities provided in the rental property, such as Wi-Fi, parking or a swimming pool.
Average Daily Rate (ADR): The ADR is a hospitality market KPI. It represents the average rental income per paid occupied room over a period.
Advance booking: Typically, an advance booking is when a guest reserves accommodation well before the actual date.
Booking: A booking is the process of reserving and confirming a short-term rental.
Booking channel fee: A booking channel fee is a fee charged by a short-term accommodation platform where the property is listed. It’s usually a percentage of the booking fee.
Cancellation Policy: A cancellation policy is the rules and conditions regarding cancelling a booking and receiving a refund.
Calendar blocks: Calendar blocks are where specific dates of your calendar have been blocked out, making them unavailable to guests.
Check-in: A check-in is the process of arriving at the rental property and gaining access.
Check-out: A check-out is the process of leaving the rental property at the end of the stay.
Cleaning Fee: A cleaning fee is the amount charged to guests to cover the cost of cleaning the rental property after their stay.
Cleaning Standards: Cleaning standards are the cleanliness and hygiene standards that hosts are expected to maintain in their rental properties.
Co-host: A co-host is a person or company that assists the host in managing the rental property, such as handling guest communication, check-ins, and cleaning.
Dynamic Pricing: Dynamic pricing is a pricing strategy where the rental rates fluctuate based on factors such as demand, seasonality, and availability.
Early check-in: An early check-in is when the guest is allowed to check in to the property earlier than the standard check-in time.
Estimated earnings: Estimated earnings other projected income a host can expect to get from renting out their property. It is based on factors like occupancy rate, booking frequency and pricing.
Extended stay: An extended stay is considered a long-term booking, typically weeks or months.
Extra Charges: Extra charges are additional fees or charges that may be applied to the booking, such as a pet fee, late check-in fee, or extra person fee.
Full-time rental: A full-time rental is a property rented all year round and not sporadically.
Gross rate: The gross rate is the total income earned from a rental before any fees, taxes or expenses are deducted.
Guest: The guest is the person who rents the property for a short period.
Guest Fee: A guest fee is a fee charged by the platform to guests for each booking made through their platform.
Guest review: A guest review is feedback from a guest on a short-stay accommodation platform, such as Airbnb. This feedback is populated using the platform’s software; it is not an informal note to the host.
High season: High season is the period when short-term rentals in a particular area are the most in-demand.
Host: The host is the person who owns or manages the property and rents it out to guests.
Host Fee: A host fee is a fee the platform charges hosts for each booking made through their platform.
Host Guarantee: A host guarantee is a protection program offered by some platforms that provides coverage for certain damages or losses that may occur during a guest’s stay.
House Manual: A house manual is a document or guide the host provides that includes essential information about the property, such as check-in instructions, rules, and local recommendations.
House Rules: House rules are the specific rules and guidelines the host sets for guests to follow during their stay.
Instant Booking: Instant booking is a feature that allows guests to book a rental property without the host’s approval as long as the property is available for the desired dates.
Inventory: When used in short-term accommodation, inventory refers to the items provided in a short-term rental property for guests to use.
Joint hosting: Joint hosting is where two or more people share the responsibilities of managing short-term rental property.
Keyless entry: Keyless entry is where a house or an apartment is accessed without a physical key. For example, guests may be given a PIN code instead of a key to access the front door.
Late check-out: A late check-out is when a guest leaves the property later than the agreed check-out time.
Length of stay discount: A length of stay discount is where guests are offered a reduced price for booking a property for an extended period.
Listing: A listing is a property available for short-term rental and listed on a platform or website.
Listing optimisation: Listing optimisation is a strategic process of enhancing a property listing to increase visibility, attract and convert readers and ultimately, increase bookings.
Local Regulations: local regulations are laws and regulations imposed by local authorities that govern the operation of short-term rentals, including zoning restrictions, licensing requirements, and safety standards.
Low season: In rental terms, low season is when demand for short-term rentals in a specific area is at its lowest.
Minimum Stay: A minimum stay is the minimum number of nights guests must book when reserving a short-term rental property.
Maximum Stay: A maximum stay is the maximum number of nights guests can stay in a short-term rental property.
Maximum occupancy: Maximum occupancy is the maximum number of individuals a property can accommodate.
Multiplatform listing: A multiplatform listing is a property listing promoted on multiple short-stay accommodation platforms. For example, the listing may be promoted on Airbnb, Bookings.com and STAYZ.
Net rate: The net rate is the income you receive from your rental after all taxes, fees and expenses have been paid.
No-show: A no-show is when a guest fails to show up for their booking — and does not get in touch to cancel or explain the reasons for not attending.
Occupancy: Occupancy Is the number of guests allowed to stay in a short-term rental property.
Platform: A platform is a website or app that connects hosts and guests to book short-term rentals, such as Airbnb, VRBO, or Booking.com.
Review: A review is feedback, or a rating guests provide after their stay, which can help future guests make informed decisions.
Security Deposit: A security deposit is a refundable amount of money guests pay to cover any damages or losses during their stay.
Short-Term Rental: Short-term rental is the rental of a property for a short period, typically less than 30 days.
Static pricing: Static pricing is where the price for a rental property stays the same throughout the year, regardless of factors such as high season or demand.
Superhost: Superhost is a designation given to hosts who consistently provide exceptional guest experiences.
Occupancy rate: The occupancy rate is the percentage of time that a property is occupied or rented out.
Occupancy Tax: Occupancy tax is imposed by some jurisdictions on short-term rental stays, typically collected by the host and remitted to the local government.
Property Management Company: A property management company is a company that manages short-term rental properties on behalf of the owners, handling tasks such as bookings, guest communication, and property maintenance.
Revenue forecast: Revenue forecast is the estimated future income from your rental property. It’s based on pricing, booking rates and general market trends.
Un-hosted rental property: An un-hosted rental is where a guest stays in a residential property without the property owner being on the site.
Quiet hours: Quiet hours are when a host requests their guests to keep noise to a minimum. Typically, these hours are from 9 PM to 8 AM.
Shoulder season: Shoulder season is between peak and low season, where demand is moderate.
