Glossary

This Glossary is provided to users of the website as a guide to terms and information they may find helpful. Definitions are added, edited or removed occasionally.

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

List Rate

The price that a lodging provider expresses as his price to the wholesaler. Usually the wholesaler receives a discount off the list rate.
Origin: Vacation Rental Association

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 Data

Information related to Lodging such as bookings, quotes, occupancy, arrivals, departures and etc.
See also: Lodging Tabs Origin: Istay

Lodging Locator

Hierarchy of Countries, States, Destinations, Locations and Resorts perhaps more logical than using traditional postal codes, cities and states to indicate where a lodging property is situated.
Origin: Istay

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

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

Make Good Discount

When a guest is invited back to a property, for no cost, to compensate them for inconvenience incurred during the original stay. Usually referred to as just a "Make Good."
See also: Give Back Origin: Vacation Rental Association

Manifest Photos

When putting a property into the rental program, it is necessary of course to shoot advertising photos of a home. But there are many other photos that may prove useful later when attempting to help guests, describe the problem or deal with questions or problems. These are call Manifest Photos. Here are examples:

In general photos should be taken of every closet, nook and cranny, such as:

- The inside of the refrigerator and freezer
- Inside of cabinets, with doors open. Kitchen, bathroom, store rooms.
- Inside of garage and any outside storage closets or buildings.
- Inside of fireplaces and wood stoves.
- Underside of sinks to display pipes.
- Backside of toilets, showers
- Lighting fixtures up close. (labeled by room)
- Furnaces & Air Conditioning units.
- Thermostats & Controls
- Stereos, TV's, DVD's & Cable/satellite controls close up.
- Underside of decks and patios.
- Roofs as best can be seen or photographed.
- Behind TV's, couches, etc.
- Both sides of Doors. Locks (Close ups)
- All furniture, front and back.
- Mattresses without coverings.
- All areas of the yard & Driveway.
- The view from the property out in all directions
- Photos of neighbor buildings from the property.
- Roads as they approach the property.
Origin: William May Link: VacationRentalPhotographers.com

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 Guest, Undisclosed Guests, Drop-In Guests Origin: Vacation Rental Association

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-Term Rental

(A) a 30 day or longer occupancy, used to comply with regulations that prohbiti stays of less than 30 days. But usually not more than 45 to 60 days.
See also: Short-term Rental, Lng -erm Rental, Vacation Rental, Holiday Let, Holiday Day Home Origin: Vacation Rental Association Link: VacationRentalAssociation.org

Mountain View

When guests can see surrounding mountains from some area of the property, not necessarily from all area 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 in all properties at all times - - especially during high seasons.
Origin: William May

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DETAILS: Glossaries and Dictionaries are handy tools. They provide an indication of meaning but additional study may be necessary to comprehend the full meaning. There may be alternate definitions not included here and experts may disagree on the proper explanation of each term.

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