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.

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

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 gratitutes 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, accomodations, 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 Industry 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 Industry 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

Linens

All bedding, towels and other fabric products used in a lodging facility to comfort to owners, family and guests.
See also: Bedding Origin: Vacation Rental Association

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

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

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

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