Don’t let the jargon overwhelm you! Use our glossary to support your understanding of short term rentals (STR).
Questions or clarification are welcome 24/7 at Arizona Vacation Home Rentals, a full service property management company that serves the greater Phoenix area and mountains to the north.
Amenities – property specific features or services available to guests such as walking trails, swimming pool, hot tub or club membership
Amenity Fee – added charge for a service or optional amenity such as pool heating
Arrival Date – date guests with a reservation are arriving at property
Availability – dates a property is available for renting and not blocked by owner
Availability Calendar – website or channel calendar that shows the dates a property is available to rent
Back to Back Bookings – guests checking out and new guests arriving on the same day
Black Out Dates/Owner Holds – dates chosen by the owner to not rent their property; may be for personal use or property repairs and upgrades
Book – to make a reservation
Booking – a reservation
Booking Confirmation – guest’s reservation has been confirmed by property management
Booking Fee – fees guests are charged for booking through a channel or website such as Vrbo or Airbnb
Booking Policy – procedures guests follow to book a property and receive confirmation
Booking Request – guests have requested to rent a property with available dates
Booking Window – the time between the date a guest reserves a property and their actual arrival date
Cancellation Fee – the fee guests must pay if they cancel their reservation after a certain date
Cancellation Policy – procedures followed when a guest cancels a reservation; may include a cancellation fee or no refund after a specific date
Channel Fee – the commission charged by channels such as Airbnb and Vrbo for listing your vacation rental property on their website
Channel Manager – member of the property management team who syncs a property’s availability calendar on different channels and websites to avoid double bookings
Check-In – time and date guest has access to vacation rental property as specified in rental contract
Check-Out – time and date guests have agreed to depart the rental property as specified in rental contract
Cleaning Fee – a one time fee paid by guests to cover the cost of cleaning after they have departed their rental property
Contactless/Self Check-In – guests receive information that allows them to check into a rental property without in-person contact with property management team or owner
Conversion Rate – this is the percentage of people who booked a property compared to the number of people who viewed it online (example: a 3% conversion rate means 100 people viewed the property online and 3 of them booked it)
Damage Waiver – a nonrefundable fee guests pay to cover damages that may occur during their stay
Daytime Visitors – number of visitors permitted to visit but not stay overnight at a property
Departure Date – date guests check out of a vacation rental property
Digital Marketing – using digital channels such as emails, social marketing, search engines and websites to advertise and promote bookings at a rental property
Direct Booking – guests reserve a property at Arizona Vacation Home Rentals (AVHR) instead of Vrbo, Airbnb or other third-party channels; rates are better and homeowner avoids a booking fee
Double Booking – 2 or more reservations for the same night(s) at the same property; this is avoided with an experienced property management team such as AVHR
Full Service Property Management – a comprehensive service covering all aspects of vacation rental property ownership including guest screening, bookings, advertising, collections, communication, 24/7 guest issues or emergencies, cleaning services, home security, local compliance and more
Guest Screening – digital guest screening process with extensive evaluations of potential guests before a reservation is confirmed; the process is designed to mitigate risks associated with illegal activities, non-payment, property damage and more
High/Peak Season – the time of year demand for vacation rentals is highest in a specific location
House Rules – applies to policies and rules guests are required to follow at a rental property such as no pets, no smoking, no parties, quiet hours, etc.
Instant Booking – a booking that is accepted immediately without requiring approval from property management team or owner
Keyless Entry – a key is not required to access a vacation home; usually a smart lock with remote control permits guest entry
Listing – advertises a vacation rental property on a website or channel and includes house name, detailed description of the property, professional photos, pricing and availability calendar
Lockbox – box at home’s entrance that contains key(s) to access; requires a code to open
Low Season/Off Season – the time of year when demand for vacation rentals in a specific area is usually lower
Minimum Stay – minimum number of days/nights required of a reservation
Noise Alert System – measures and alerts management team to excessive noise levels inside and out at a property without recording conversations or any sounds
Owner Holds/Black Out Dates – dates chosen by the owner to not rent their property; may be for personal use or property repairs and upgrades
Peak/High Season – the time of year demand for vacation rentals is highest in a specific location
Property Description – explains in details what a property offers and highlights features and amenities that are especially appealing to guests
Quiet Hours – the specific hours, governed by local law, guests must reduce and minimize noise at a rental property; time is usually 10 pm – 8 am
Rental Agreement – a legally binding contract guests sign agreeing to uphold all house rules, reservation policies and other expectations outlined in the contract
Reviews – feedback from guests about their experience at a property which may be posted on a channel or website; 5 STARS is always the goal
Search Engine Optimization (SEO) – a property listing is created around key and high interest words which give it higher rankings in search engines like Google and increase visibility
Security Deposit – this is a refundable fee guests pay to help cover any damages that occur during their stay; no damages, fee is refunded
Self Check-In/Contactless -guests receive information that allows them to check into a rental property without in-person contact with property management team or owner
Short-Term/Vacation Rentals – accommodations that travelers book as an alternative to hotels for a business trip, vacation or local event; advantages include more privacy, more space, fully stocked kitchen and exciting and private amenities such as pools and hot tubs
Smart Lock – device that allows guest to access home without a key; code is controlled remotely to allow contactless check-in
Standard Occupancy – the number of guests permitted to stay overnight at a home; exceptions must be in writing in advance of the reservation
Travel Insurance – Trip protection for cancellations, medical emergencies and other hardships that may interfere with a guest’s reservation; guests arrange through an insurance company of their choice
Vacation/Short-Term Rentals – accommodations that travelers book as an alternative to hotels for a business trip, vacation or local event; advantages include more privacy, more space, fully stocked kitchen and exciting and private amenities such as pools and hot tubs
