Dictionary
Issues
A general term describing matters brought to the attention of a lodging property owner or manager. May include questions, complaints or even compliments but an issue not necessarily resolvable if the cause or solution is beyond capability to be solved
Origin: Vacation Rental Association
IVR - Inspected Vacation Rental
A lodging unit that has been inspected and meets the standards of the Vacation Rental Association (VRIA). Designated as "Blue Ribbon" and "Inspected Vacation Rental (IVR)" These include rules for outfitting, cleanliness, maintenance and truthful advertising, The terms Blue Ribbon and IVR are trademarks owned by the Vacation Rental Association.
See also: Blue Ribbon Rental, VVR, Verified Vacation Rental Origin: Vacation Rental Association
Leasehold Interest
When an owner of a property leases the property to second party, that party is said to have a leasehold interest. They have certain rights in regard to the use and disposition of the property but not the right to sell the property itself. This usually refers to a leasehold interest in land.
Origin: Vacation Rental Association
Leisure Travel
Travel for recreational, educational, sightseeing, relaxing and other experiential purposes.
Origin: Vacation Rental Association
Limited Vacation Rental Manager
A locally owned and operated company that manages multiple second homes for short-term rental such as cabins, condos, cottages, houses, villas, etc. Provides onsite services and marketing without aid of a support organization. May also refer to an individual who works at such a company.
Origin: Vacation Rental Association
Location
A geographic description of where properties are located. Locations are located within Destinations, which are located within States, which are located within Countries. For example, Poipu Beach is a Location. The island of Kauai is a Destination and Hawaii is the state. These geographic descriptions are not precise and are sometimes named to accommodate various geographic features.
See also: Destination, State, Country Origin: Istay
Lock Off
A room or additional rental area which can be separate from the main rental area of hotel, motel or vacation rental unit.
Origin: Vacation Rental Association
Long-Term Rental
Rental of a cabin, condo, apartment, house or villa for mmore than 30 days, usually for 6 or 12 months, usually with option to continue longer. Think of his as "conventional rental and documented with a lease. Usually fully furnished including a kitche, bath and sleeping area.
See also: Short-term Rental, Mid-Term Rentall, Vacation Rental, Holiday Let, Holiday Home Origin: Vacation Rental Association Link: VacationRentalAssociation.org
Lost & Found
Most owners or managers have a location at which articles found in a lodging property are kept for a short period of time. Owners and managers do not take responsibility for lost and found items nor offer guarantee that such items will be located after a guest's departure.
Origin: Vacation Rental Association
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
Network Member
A person who owns a local vacation rental company in a geographic location, that is a member of the Sunspots Network. They are the key person in the are and may have other people who work for them. A member may also be referred to as a Networker, Operator, Manager or Property Manager.
See also: networker, manager, operator, property manager Origin: Vortex Organization
Network Operator
An alternate title for a person who owns a local vacation rental company in a geographic location, that is a member of the Sunspots Network. See Network Member.
See also: Network Member, Networker, Manager, Property Manager Origin: Vortex Organization
Networker
Refers to employs or subcontractors of Sunspot Network Members such as housekeepers, maintenance personnel, office staff and so forth.
See also: manager, network member, operator, property manager Origin: Istay
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 vicinity 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 facility 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