What is a condotel? Is there a difference between a vacation rental and a short-term rental? How does dynamic pricing work? What are themed vacation rentals? Are damage waiver fees and security deposits the same thing? Maybe you asked these questions…or maybe you did not even know these things existed. In the vacation world, there are some new concepts and terms that you may need to now before booking your next vacay. It can become confusing. To make it easy for you, we improved the Stay For Vacay Vacation Rental Travel Glossary. Here is the updated list of more common vacation rental terms you need to know.
“The main difference between a damage waiver fee and a security deposit is that a damage waiver fee is non-refundable and only covers unintentional damage while a security deposit is refundable and also covers intentional damage and missing items.“
Lodgify
Glossary Terms
BLEISURE: A combination of business and leisure when business travelers extend a business trip to include vacation time.
BOOK DIRECT: Booking your vacation directly with the vacation rental owner or their property manager and not through third party booking sites like Airbnb, Vrbo and Booking.com.
BOOKING REQUEST or RESERVATION REQUEST: This occurs before a reservation is confirmed or when a host requires approval before the guest can book a property. It allows the guest and the host the opportunity to message each other before the reservation is accepted and approved and the booking payment is processed. Common items guests ask about include unit availability, cancellation policy and the possibility of early check-in or late check-out.
CLEANING FEE: A fee charged to guests during the booking process to cover the cost of cleaning the vacation rental after guest check-out.
CO-HOST: People who help listing owners take care of their home and guests, when they rent homes via Airbnb.
CONDOTEL: It is a blend of the words, condo and hotel. Condotels are condo buildings that operate as hotels, although the units are individually owned and rented out to vacationers with typical hotel services.
DAMAGE PROTECTION INSURANCE: Covers unintentional damage to the vacation home during your stay. The traveler purchases and can make a claim if the security deposit is held due to a covered loss.
DAMAGE WAIVER FEE: A non-refundable fee charged instead of a damage security deposit. It covers unintentional damage.
DYNAMIC PRICING: Pricing of the nightly stays at a vacation rental that changes based on the availability, peak season, number of guests, minimum stay and market conditions. Prices are higher when there is greater demand for the units.
FLEXCATION: When a vacationer books a vacation and extends the stay longer on a trip, to mix work and play.
GUEST FEE: Additional fees that the guest pays. Common examples include booking fees, cleaning fees, service fees, pet fees or fees for an extra person.
HOA: It stands for Homeowners Association, and it is an organization in a subdivision, planned community, or condominium building. It makes and enforces rules for the properties and the residents, and may maintain the buildings and amenities.
HOLIDAY LETS: Similar to vacation rentals, this term is used in England and other countries outside of the U.S. to describe when a property is used for holiday.
HOLISTAY: Similar to staycation, it is the combination of holiday vacation activities and staying near home.
HOME SHARING: People share their entire home, or a portion of it, to renters for vacation or other purposes.
HOUSE RULES: Rules and instructions that are important for the guest to know about the vacation rental home and the community it is in. Some rules are set by the property manager or owner while other rules may be set by the HOA and community. Examples may include quiet hours, number of people that can access the amenities, no smoking, security gate access and parking restrictions.
INSTANT BOOKING: Streamlined booking process that allows guests to book immediately without needing to send a reservation request to a property manager or owner for approval.
OTA: It stands for Online Travel Agency and is an online marketplace for third-party entities which allow consumers to book travel, including accommodations at vacation rentals. Popular OTAs include Airbnb, Vrbo, and Booking.com.
QUIET HOURS: Set hours when excessive noise is prohibited.
SHORT-TERM RENTAL (STR): Furnished properties that are rented out for usually less than 30 days, and most commonly on a daily or weekly basis.
SMART LOCK: WiFi-enabled lock that provides remote, keyless access to a property.
SMART HOME: Home equipped with electronic devices that are controlled remotely.
STAY VACAY: Semantically related, stay and vacay mean nearly the same thing in travel, so they may substitute for each other. Stay Vacay can also mean a staycation.
STAYCATION: Combination of stay and vacation, a stay at home vacation where engaging in activities within a day trip of your own home.
SUPERHOST: An Airbnb designation for experienced hosts who provide extraordinary experiences for their guests and consistently receive good reviews.
THEMED VACATION RENTAL: A vacation rental that is decorated in a certain theme.
VACATION RENTAL: Renting out a furnished apartment, house, condo, cabin or cottage to tourists on a daily or weekly basis as an alternative to a hotel.
VACATION RENTAL LISTING SITES: Websites that list potential accommodations at vacation rental homes. Some of the most popular are Airbnb, Vrbo, Booking.com and Tripadvisor.
VACAY (also spelled Vaca or Vaycay): Pronounced “vay-kay,” it is an informal word for vacation.
VAXICATION: A combination of vaccination and vacation, meaning taking a vacation after being vaccinated.
WORKCATION: A working vacation where you combine work and a vacation.
There is one last term we would like to define:
STAY FOR VACAY: Vacation rentals for all seasons with vacation homes you can stay for vacay in Orlando, Florida and the Pocono Mountains in Pennsylvania.
We encourage you to submit any other terms you hear that are unfamiliar to you. We can find the definition and add it to this vacation rental travel glossary.
