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.

VRMLS - Vacation Rental Multiple Listing Service

The world's first Multiple Listing Service (MLS) for Vacation Rentals this is an Open-Listing and Open-Distribution system. Owner and Manager Members can post Properties once and have them distributed to websites around the world. Website Publisher Members can retrieve records and display the on their website.

Similar to the MLS's which have server real estate brokerage for decades; VRMLS is owned by the Vacation Rental Association a Not-For-Profit organization. The term "VRMLS" is an owned trademark.
See also: VRIA Origin: Vacation Rental Association Link: VRMLS.org

VROA - Vacation Rental Owners Association

The Vacation Rental Owners Association (VROA) was a trade association comprised of members who own homes and vendors who support them. Became the Vacation Rental Association (VRIA) to support all constituents in the industry.
See also: VRIA, VRMG, VRMLS, VRMA Origin: Vacation Rental Association Link: VROA.org

VVR - Verified Vacation Rental

A lodging unit that has submitted documentation and been verified as a legitimately owned and operated vacation rental by the Vacation Rental Association (VRAI.org). Designated as "Verified Vacation Rental (IVR)". Does not include physical inspection as is included in the "Inspection Vacation Rental (IVR)" Program. The term IVR are trademarks owned by the Vacation Rental Association.
See also: IVR, Inspected Vacation Rental, Blue Ribbon Rental Origin: Vacation Rental Association

Wholesaler Lodging

A lodging operator who sells occupancy through other parties called retailers
See also: Retailers Origin: Redstone Systems

Your Share

Rental program from Sunspot Vacation Rentals that provides advertising and bookings services to owners of timeshares who have dates available to rent.
Origin: May, William

Advance Payment

Payment by the renter to the owner equaling a portion of the total rental amount. The advance payment is applied to the total rent cost.
Origin: Vacation Rental Association

Assignments

Work that is assigned to a company by its clients, on an hourly or bid basis, usually for professional services or complicated projects.
Origin: Finito

Average Daily Rate (ADR)

The average price paid for nightly stays at a lodging establishment. Does not directly correspond to Rack Rates (retail asking price.)
See also: Scheduled Rack Rates Origin: William May

Beach View

When guests can see a beach (Salt or Fresh Water) from some area of the property, not necessarily from all area of the property. May include Full, Partial or Peekaboo Views.
See also: View, City View, Mountain View, Resort View, Water View Origin: Vacation Rental Association

Bed Codes

Short-hand code that allows guests to instantly see the number and sizes of beds in a lodging property. Rather than a description, or a totaling, each bed is represented by a Letter symbol. For example: QQKTTL means a home has two queens, one king, two twin beds and a sleeper sofa.

The codes are as follows:

K = King
Q = Queen
F = Full
T = Twin
C = Futon Couch
M = Mattress
A = Air Mattress
L = Sleeper
S = Sofa
D = Day Bed
Origin: Vacation Rental Association

Canceled Stays

The number of guest stays for check-ins during a given period that canceled prior to arrival.
Origin: William May

Cancellation Rate

The percentage of reservations that canceled prior to arrival
Origin: William May

City View

When guests can see sections of a town or city 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, Mountain View, Resort View, Water View Origin: Vacation Rental Association

Common Calendar

An online calendar which shows a list of available lodging units (room, suites or homes) in a specified Complex or destination; along with available dates. Usually a left hand menu list the units and a top menu shows days or weeks. Booked units are displayed so that a guest can determine which units are available and then make a selection. Available in virtually all lodging software and many lodging websites. Also called a Tape or Grid.
See also: Availability Calendar Origin: Vacation Rental Association

Dynamic Pricing

Dynamic pricing is a customer or user billing mode in which the price for a product frequently rotates based on market demand, growth, and other trends. In Lodging, rates per day will vary looking forward many months. Also known as Dynamic Rates
Origin: William May

Fleece

Another word for towels, wash cloths and math mats
See also: Textiles, linens, towels Origin: May, William

High Dynamic Range (HDR) Photos

Digital photos taken and processed to produce the most life-like quality and colors possible. Used extensively for quality architectural and lodging photographs. Techniques that allow a greater luminance's between light and dark so they more accurately the wide range of real scenes.
Origin: Wikipedia Link: Wikipedia.com

I-Calendar

Various price setting techniques designed to increase gross sales of a business, including tools for dynamic pricing, promotions, advertising, discounts, specials and more. Also known as Dynamic Rates, and Dynamic Pricing
Origin: William May

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

Linens

Usually cotton materials used for sheets, pillow cases and other bedding
See also: Bedding, Textiles, towels, fleece Origin: May, William

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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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