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.
Inspection
The act of the owner or manager entering and inspecting a Property for the purpose of a guest's compliance with the booking agreement, terms and conditions and following of rules. Also includes housekeeping and maintenance entrance to a unit to accomplish their tasks related to the unit. Unlike long-term tenancies, owners, managers and staff are allowed, by law to enter units for such purposes upon reasonable need and without long notice.
Origin: Vacation Rental Association
Interim Clean
When a guest occupies a vacation rental home for an extended period of usually a week or more, interim cleans may be warranted during the stay. Usually there is a fee for such cleans.
See also: Out Clean, Housekeeping, Cleaning Origin: Vacation Rental Association
Internet Service Provider (ISP)
A commercial service that sells access to the internet to individuals at properties..
Origin: Vacation Rental Association
Invitees
People who are invited to use a lodging property by the Guest, who is the person who actually rents the property.
Origin: Vacation Rental Association
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
Key Safe
A stout box which can be attached to a build, that requires a user to punch in a numerical combination code in order to retrieve a key from inside. Usually a mechanical device, not electronic. Some types can be hung on a door knob.
Origin: Istay
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
Linens
Usually cotton materials used for sheets, pillow cases and other bedding
See also: Bedding, Textiles, towels, fleece Origin: May, William
Loaner
Equipment that can be loaned to Guests such as board games, hair dryers, coolers and sporting equipment. Also means equipment and appliances that may be loaned to Owners such as barbecues, patio chairs and even appliances such as refrigerators and ranges. (Used when Owner equipment malfunctions on short notice)
Origin: Istay
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
Lodging Manager
A person or company who manages lodging faculties such as Inns, Resorts, Hotels, Motels, Vacation Rentals, short-term rentals. Lodging Managers do not manage conventional real estate rentals such as apartments, condominiums, commercial buildings, home owner associations, or long-term residential property.
See also: Vacation Rental Manager, Lodging Manager, Absentee Vacation Rental Manager, Corporate Vacation Rental Manager Origin: Vacation Rental Association
Lodging Taxes
Includes the sales, tourism and sometimes other taxes imposed on lodging by governments in a given destination. Facilities are required to add these taxes to the price of lodging and sometimes other costs.
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
Looker
Someone who is looking to purchase a vacation rental home. Not all lookers end up buying. Should not be used for a company, but rather for its owner or CEO.
See also: client, buyer, unit Origin: William May Link: VortexMethod.com
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