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The vacation rental encyclopedia.
Acronyms, concepts, and metrics — defined clearly, updated regularly.
Most-looked-up terms
Average Daily Rate (ADR)
Average Daily Rate (ADR) is a key performance metric that measures the average rental revenue earned for an occupied property per day.
Booking Engine
A booking engine is a software application that allows guests to book and pay for reservations directly on a property's website.
Cancellation Policy
A set of rules defining the penalties a guest incurs for canceling a reservation and the conditions under which they may receive a refund.
Channel Manager
A software tool that synchronizes property listings, availability, and rates across multiple online booking platforms in real time.
Cleaning Fee
A one-time charge added to a guest's reservation total to cover the cost of cleaning the property after their stay.
Direct Booking
A reservation made directly with a property manager or host, bypassing third-party online travel agencies (OTAs) and their commissions.
Dynamic Pricing
Dynamic pricing is a strategy that adjusts rental rates in real time based on supply, demand, seasonality, and other market factors.
Guest Screening
Guest screening is the process of verifying a potential guest's identity and background to assess the risk of property damage, fraud, or rule violations.
Lodgify
Lodgify is an all-in-one vacation rental software for property owners and managers. It provides tools to create a direct booking website, manage listings…
Minimum Length of Stay (MLOS)
A rule set by property managers requiring guests to book a specific number of consecutive nights to confirm a reservation.
Multi-Calendar
A multi-calendar is a centralized dashboard that displays availability and bookings for multiple properties in a single, unified view.
New York Local Law 18
New York Local Law 18, also known as the Short-Term Rental Registration Law, is a municipal regulation in New York City that requires hosts to register with…
Occupancy Rate
Occupancy Rate is the percentage of booked nights out of the total available nights for a property over a specific period.
Online Travel Agency (OTA)
An Online Travel Agency (OTA) is a website or app that sells travel-related products like flights, hotels, and vacation rentals to consumers.
Property Management System (PMS)
A Property Management System (PMS) is a software application that enables vacation rental owners and managers to centralize and automate their core business…
7 areas, every concept
From marketing and pricing to legal and reporting — pick a corner of the industry.
Marketing
Reaching guests, growing direct bookings, and brand strategy
Industry
Foundational concepts, platforms, and players in vacation rentals
Technology
PMS, channel managers, APIs, booking engines, and automation
Property Management
Day-to-day operations: check-ins, keys, guests, and properties
Finance
Pricing, payments, fees, taxes, and rental economics
Policies & Legal
Contracts, regulations, deposits, cancellations, and house rules
Reporting
KPIs and performance metrics: ADR, RevPAR, occupancy, ROI
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