Insurance Glossary
Vacation Rental Insurance policies can contain technical industry terms that make reading a challenge. To avoid confusion, the carrier as created the following list of definitions for a number of industry terms and phrases.
The following definitions are provided for informational purposes only. Please refer to your Vacation Rental Insurance Policy or Certificate of Insurance for definitions and coverages specific to your Policy/Certificate.
Guesttimating
Attempt to project the number of guests, bookings or income that a lodging property will generate in the future.
See also: Guesstimating, projectiong, estimating Origin: Wm. May
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
Hold Over
When a guest stays longer than their pre-arranged booking or reservation period of time. If with approval of the owner or manager there is usually additional rent. If without approval a stay over usually results in penalties as well as rent for inconvenienced charged to other guests and employee. (Also known as a Stay Over)
Origin: Vacation Rental Association
Holiday House
A fully furnished home offered for rent on a nightly, weekly or long basis but essentially for short-term use. The same as a Vacation Rental but used in parts of European, Australia and other parts of the world.
See also: Vacation Rental. Holiday Let Origin: Vacation Rental Association
Holiday Let
A house, condo or other living unit used for short-term rental, usually in a resort or recreational area and having sleeping quarters, bath and kitchen. Also known as a Vacation Rental.
See also: Vacation Rental Origin: Vacation Rental Association
Home Owners Association (HOA)
Association responsible for the maintenance, upkeep, and financial management of common areas in certain complexes and neighborhoods.
Origin: Vacation Rental Association
Hostel
An establishment that provides inexpensive lodging often for students, workers or travelers, some in shared bed or bunk rooms, sometimes with modest individual rooms. Usually baths are across the hall. Many have bending machines and coffee service, but seldom sit down dining.
Origin: Wm. May
Hot Tub
A small pool often outdoors and accommodating 2 to 12 people who can sit in and enjoy the hot water usually 100 to 104 degrees Fahrenheit. Usually self contained including pumps, air jets, covered when not in use and treated with chlorine or similar chemical to keep the water sanitary. Also called a spa.
See also: Spa Origin: Vacation Rental Association
Housekeepers
Those wonderful folks who clean lodging properties after guests and invitees depart. A thank less job for which gratitudes are not always given but always appreciated
Origin: Vacation Rental Association
Housekeeping
The task of cleaning lodging properties after guests and invitees have departed. Includes washing linens, cleaning all rooms, vacuuming and return the property to its condition prior to the guests arrival.
Origin: Vacation Rental Association
Housekeeping Fee
A charge to guest's account for an Out, Interim or Excessive cleaning of a vacation rental or hotel unit. When quoted fees are usually a minimum meaning guests will be charged for cleaning that is beyond normal and usual usage.
See also: Interim Clean, Out Cleaning, Housekeeping Origin: Vacation Rental Association
Incentive Travel
Travel offered as a reward for top performance and the business that develops, markets, and operates these programs.
Origin: Vacation Rental Association
Inclusive Tour
A tour program that includes a variety of features for a single rate (airfare, accommodations, sightseeing, performances, etc.)
Origin: Vacation Rental Association
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
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
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