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.
Confirmed (Booking)
An oral or written statement by the manager that they have received the guest's order and will honor a booking providing the guest honors their obligations, such as paying timely or arriving on time. Confirmed bookings may be Guaranteed or Advance Lodging Guarantee. Used in software as a Booking Status
See also: Abandoned, Aborted, Blocked, Cancelled, Hold, Incomplete, In Error, Order, Out of Service, Quoted, Unblocked Origin: Vacation Rental Association
Convention and Visitors Bureau
These organizations are local tourism marketing organizations specializing in developing conventions, meetings, conferences, and visitations to a city, county or region.
Origin: Vacation Rental Association
Cosmetics
Improvements to a home such as installing a new fireplace that are relatively inexpensive and make a big difference to the look of the home.
Origin: Vacation Rental Association
Cover
Each diner at a restaurant.
Origin: Vacation Rental Association
Covered Trip
A period of round-trip travel away from Home to a destination outside your city of residence; the purpose of the trip is business or pleasure and is not to obtain health care or treatment of any kind; the trip has defined departure and return dates specified when the Insured enrolls; the trip does not exceed 180 days.
Origin: CSA Travel Insurance
CVRO - Certified Rental Owner
Owners of lodging who study for and pass a test about their competence to manage vacation rental lodging are awarded a CVRO - Certified Rental Owner designation. The course of study includes awareness and a pledge to maintain properties that are properly outfitted, clean, maintained and truthful in advertising. The term CVRO is a trademark owned by the Vacation Rental Association.
See also: CVRM, CVRI, VRIA Origin: Vacation Rental Association
CVRP - Certified Vacation Rental Profession
Managers of lodging who study for and pass a test about their competence to manage vacation rental lodging are awarded a CVRP - Certified Vacation Rental Professional designation. The course of study includes awareness and a pledge to maintain properties that are properly outfitted, clean, maintained and truthful in advertising. The term CVRP is a trademark owned by the Vacation Rental Association.
See also: CVRO, VRIA, IVVR, VVR Origin: Vacation Rental Association Link: VRIA.org
Damage Deposit
A payment customers make to property owners or managers to pay for any damage or overage fees they may incur. Not common in hotels or motels but very common for vacation rental cabins, condos and homes. If a guest incurs such charges they are subtracted from the deposit prior to its return. Sometimes called a Security Deposit.
See also: Security Deposit Origin: Vacation Rental Association
Damage Waiver
A fee paid by guests that covers a maximum amount of damages they may cause. It is paid in advance, is non-refundable and covers unintentional damage up to a certain threshold if reported to the owner or manager prior to departure. Does not cover intentional damage, excessive cleaning, charges due to guest failure to follow booking contract or amounts of the limit
Origin: Vacation Rental Association Link: VRIA.org
Darwin Program (Co-managed Vacation Rentals)
A co-management program with a booking agent company. Manager provides onsite services. Both parties advertise and process bookings. Offered by members of the Sunspots Vacation rental network, such as for cabins, condos, homes & villas.
See also: Homie-Minder Origin: May, William
Day
In most lodging, guests do not rent "Days" but instead bookings are thought of as "Nights". The origin of this terminology comes from the traditional (Hotel, Motel) industry where guests frequently arrive in the afternoon and leave in the morning. Hence it is the night they are renting not the day.
See also: Night Origin: Vacation Rental Association
Deep Cleaning
Heavier than usual cleaning, usually done at least annually it is necessary to have housekeepers clean high spots, behind appliances, baseboards and hard to reach areas.
Origin: Vacation Rental Association
Departure Date
The date at which a guest departed or is expected to depart from a property. In lodging this also usually includes a time after which the guest is no longer allowed to be in the property.
Origin: Vacation Rental Association
Deposit Waiver Fee
Fee that some owners collect in lieu of a damage deposit. A damage waiver is typically significantly less than a damage deposit. Usually just $25 - $100 depending on the property. Unlike the damage deposit, the damage waiver is non-refundable.
Origin: Vacation Rental Association
Destination
A geographic description of where properties are located. Destinations are areas of a State, Locations, on the other hand are sub-areas of Destinations. 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: Location, State, Country Origin: Istay
Disclosed Guest
The renter and their invitees who have been pre-approved by the lodging manager. No other party can be consider a disclosed guest
See also: Maximum Occupancy, Normal Occupancy, Sleeps Occupancy, Undisclosed Guests, Drop-In Guests Origin: Vacation Rental Association
Discrimination
Restricting renters on the basis of race, color, religion, sex, familial status, disability, or national origin as prohibited under the Fair Housing Act.
Origin: Vacation Rental Association
Domestic Partner
A person who is at least eighteen years of age and can show: (1) Evidence of financial interdependence, such as joint bank accounts or credit cards, jointly owned property, and mutual life insurance or pension beneficiary designations; (2) Evidence of cohabitation for at least the previous 6 months; and (3) An affidavit of domestic partnership if recognized by the jurisdiction within which they reside.
Origin: Vacation Rental Association
Drop-In Guests
Property occupants who were not pre-approved by manager, are not staying overnight and who are prohibited from entering or staying in the property.
See also: Maximum Occupancy, Normal Occupancy, Sleeps Occupancy, Disclosed Guest, Undisclosed Guests Origin: Vacation Rental Association
Dude Ranch
Usually working ranches that accept guests for lodging, food service, horse back riding and other ranch and farm activities.
See also: Guest Ranch, Farm Stay Origin: Wm. May Link: GuestRanchers.org