Dictionary

This Glossary is provided to help guests understand more about the rental of inns, resorts and vacation rentals. It is not comprehensive but serves as a primer for terms guests may encounter in renting specialty lodging. Not all terms apply to all properties or managers.

Low Season

The season when guest occupancy and rates are lowest.
See also: Travel Seasons, Peak Season, Shoulder Season Origin: Vacation Rental Association

Maintenance

The act of maintaining and providing services to a property. Sometimes routine matters such as changing furnace filters, or changing locks. Generally differentiated from work necessary to correct damages.
See also: Repairs Origin: Vacation Rental Association

Market Share

The percentage of business within a market category.
Origin: Vacation Rental Association

Market Volume Market Volume

The total number of customers within a market category.
Origin: Vacation Rental Association

Maximum Occupancy

The greatest number of registered occupants allowed to inhabit a property. It may sleep less than this number. Unregistered guests are not allowed. Drop in guests are not allowed.
See also: Normal Occupancy, Sleeps Occupancy, Disclosed Guets, Undisclosed Guests, Drop-In Guests Origin: Vacation Rental Association

Member

A person who has subscribed to any website membership plan.
Origin: Redstone Systems

Merchant Account

In order to accept credit cards as payment from customers, a merchant must secure a merchant account from a provider, often a bank or financial institution. Merchant accounts can be difficult to obtain, and the merchant is required to pay fees and a percentage of the invoice amount to the provider for every transactions.
See also: Chargeback, Chargeback Reversal Origin: Vacation Rental Association

Mid Rise Building

A building, often used for office space and usually between four and 12 floors.
Origin: Vacation Rental Association

Mountain View

When guests can see surrounding mountains from some area of the property, not necessarily from all ares of the property. May include Full, Partial or Peekaboo Views.
See also: View, Beach View, City View, Resort View, Water View Origin: Vacation Rental Association

Mutual Program

Some managers give property owners a 10% rental discount when staying in other properties handled by the manager. Usually this is optional and only available to owners who provide the same discount to other owners. Due to seasonality the discount may not be available ina ll properties at all times - - especially during high seasons.
Origin: William May

Name Your Price

An offer to guests to specify the price they want to pay per night for lodging, and the manager then looks for lodging to meet their criteria
Origin: William May Link: VRIA.org

Net Rate

The rate provided to wholesalers and tour operators that can be makrked up to sell to the customer.
Origin: Vacation Rental Association

Night

In most lodging, guests do not rent "Days" but instead bookings are thought of as "Nights". The origin of this terminology comes from the traditional (Hotel, Motel) industry where guests frequently arrive in the afternoon and leave in the morning. Hence it is the night they are renting not the day.
See also: Day Origin: Vacation Rental Association

No Pets

When a lodging facility disallows pets of any kind at the property. If No Pets are specified then pets are not welcome on the grounds, in the vacinity or inside the buildings. [ Service animals are exempt from such limits. ]
See also: Pet Friendly, Service Animal Origin: Vacation Rental Association

No Show

A customer with a reservation at a lodging facilty who fails to show up and does not cancel.
Origin: Vacation Rental Association

No Smoking

In most jurisdictions, guests are not allowed to smoke in properties or anywhere inside the buildings. Usually there are rules that prohibit smoking within a certain distance of the building or its entrance ways or that prohibit smoking anywhere on the grounds. Most owners of lodging facilities prohibit smoking anywhere on the grounds or in the building
See also: Smoking Penalty Origin: Vacation Rental Association

Non-Cancelable

When a booking for lodging property use is non-cancelable it means the guest must pay for and is not entitled to a refund even if they request a cancellation. This is similar to non-cancelable bookings for airfare and other travel services.
See also: Re-Sellable Origin: Vacation Rental Association

Normal Occupancy

The number of registered occpuants for which the normal rental rate applies. There are per-day fees for each disclosed or undisclosed guest over the normal Occupancy.
See also: Sleeps Occupancy, Maximum Occupancy, Disclosed Guest, Undisclosed Guest, Dropin Guest Origin: Vacation Rental Association

Obscure Rent by Owner (RBO)

When a website makes a property owners identify hidden thereby requiring guests to only communicate through their website dashboard, the rental is Obscure.
See also: Rent by Owner, Rbo Origin: May, William Link: VRIA.org

Occupancy

A percentage indicating the number of nights sold (compared to number available) in a hotel, resort, motel, or vacation rental facility or destination.
Origin: Vacation Rental Association

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