Your At-A-Glance Glossary of Rental Terminology in Australia

This comprehensive glossary is designed to be your go-to resource for understanding the terminology and jargon commonly encountered in Australia’s rental market.

Welcome to the ultimate guide to navigating the intricate world of short and long-term rentals in Australia!

Whether you’re a seasoned renter, a first-time tenant, a property investor, or on holiday, this glossary of common industry terms aims to demystify the language surrounding rental agreements, leases, property management, and everything in between. From understanding the difference between a “fixed-term lease” and a “periodic tenancy” to deciphering the complexities of rental bonds and property condition reports, we’ve got you covered.



Accommodation: A place where travellers can stay overnight, such as hotels, motels, or vacation rentals.

Advance Booking: Reserving accommodations well in advance of the stay.

Advertised Rate The price listed for a property, exclusive of any additional fees or charges.

Airbnb: A popular online platform that connects hosts with guests seeking short-term accommodations.

Amenities: Features or services that enhance a guest’s stay, like Wi-Fi, a fully equipped kitchen, or a swimming pool.

API Australian Property Institute: A professional organization for property professionals in Australia.

APRA Australian Prudential Regulation Authority: The regulatory body responsible for overseeing financial institutions in Australia.

ASTRA: Australian Short-Term Rental Association

Availability: Dates and times when a property is open for booking by guests.

Average Daily Rate (ADR): A key performance indicator in the hospitality industry, representing the average rental income per paid occupied room within a specified time frame.


Back-to-Back Booking: Successive bookings with no gap in between.

Bond: A security deposit paid by the tenant to the landlord at the start of the lease to cover any damages or unpaid rent.

Booking: A reservation made by a guest for a specific period at a property.

Booking Channel Fee: Fee charged by the listing platform, typically a percentage of the booking cost.

Booking Confirmation: Confirmation provided to the guest once a booking has been accepted by the host.

Booking Confirmation: Formal acknowledgment sent to the guest upon securing their reservation.

Booking Window: Period during which a property is available for reservations. Popular online travel agency facilitating property listings and reservations.

Break Lease: Terminating a lease agreement before its expiration date.


Calendar Blocks: Specific dates when a property is unavailable for reservations.

Calendar Management: Tracking and updating property availability and reservations.

Cancellation Policy: Terms for guests to cancel reservations, including penalties or refunds.

CGT Capital Gains Tax: A tax on the capital gain from the sale of property or other investments.

Changeover Clean: Thorough cleaning between guest stays.

Channel: Manager Tool for managing multiple listing platforms from one interface.

Check-In: Process by which guests arrive and gain property access.

Check-in/Check-out: The process of guests arriving and departing from the rental property.

Check-Out: Departure process marking the end of a guest’s stay.

Cleaning Fee: A one-time fee charged to cover the cost of cleaning the rental property after a guest’s stay.

Co-host: An individual who helps manage a short-term rental property on behalf of the primary host.

Co-hosting Sharing hosting duties with another person.

Compliant: Adherence to local laws, regulations, and platform policies for short-term rentals.

Corporate Booking: Reservation made by a business for employee travel.

Credit Card Fee: Fee charged by credit card companies for processing payments.


Double Booking: Simultaneous bookings for the same property and time period.

Dynamic Pricing: A market-based pricing strategy that fluctuates based on ebbs and flows of demand.

Dynamic Pricing: Real-time price adjustments based on demand and other factors.


Early Check-In: Allowing guests to access the property before standard check-in time.

EER Energy Efficiency Rating: a measure of how energy-efficient a property is in Australia.

Enquiry: Guest message or question before booking.

EPC – Energy Performance Certificate: a document assessing the energy efficiency of a property.

Estimated Earnings: Projected income from renting out a property.

Experience: Overall guest impression and satisfaction during their stay.

Extended Stay: Bookings that last more than a few weeks and under 6 months.


Fair Trading: The government body responsible for regulating tenancy laws and resolving disputes between landlords and tenants.

FIRB – Foreign Investment Review Board: A government agency responsible for reviewing foreign investment in Australia’s real estate market.

Fixed-Term Lease: A lease agreement with a specific start and end date.

FRBO: For Rent By Owner

Full-Time Rental: Year-round available property for rent.

Furnished Rental: Rental property including furniture and appliances.


Gap Nights: Unbooked nights between reservations.

Gross Rate: Total rental income before deductions.

Guest: The person staying at a property rented through a short-term rental platform.

Guest Agreement: Document outlining guest stay terms.

Guest Review: Feedback from a guest post-stay.


High Season: Peak demand period for short-term rentals.

Holiday Rental: Short-term rental property often used for holiday purposes.

Homestay: Accommodation where guests stay in the home of a local resident, typically sharing common areas.

Host: The person who owns or manages the property being rented out to guests./Owner or manager responsible for property and guest services.

House Rules: Host-provided guidelines for guest behaviour.

Housekeeping: Property cleaning and maintenance.


Instant Booking: A feature on short-term rental platforms that allows guests to book properties instantly without host approval.

Insurance Policy: Covering host property risks.

Inventory: Provided items for guest use in the property.


Joint Hosting: Multiple individuals sharing rental management duties.

Journey (Guest): Entire guest experience from booking to check-out.


Key Exchange: Process of handing over property keys to guests.

Keyless: Entry System allowing property access without physical keys.


Landlord: The owner of the rental property.

Last-minute Discount: Price reduction for close-in bookings.

Late Check-Out: Guest departure after the agreed time.

Length of Stay Discount: Price reduction for longer bookings.

Lessor: Another term for the landlord, often used in legal documents.

Letting Agent: A real estate agent who specialises in renting properties on behalf of landlords.

Licence: A licence is when the landlord and tenant wish to enter into a legal relationship, whereby the landlord does not provide the tenant with exclusive possession of the premises.

Linen and Amenities: Provided guest comfort items like bedding and toiletries.

Listing: Online advertisement for a short-term rental property.

Listing Optimization: Strategies to enhance property listing visibility and attract guests.

LMI – Lenders Mortgage Insurance: Insurance that protects the lender in case the borrower defaults on the mortgage.

Lockbox: Secure box containing property keys.

Low Season: Period of lowest short-term rental demand.

LVR Loan-to-Value Ratio: The ratio of the amount of a mortgage loan to the appraised value of the property, expressed as a percentage.


Maintenance: Property upkeep.

Maintenance Request: A formal request made by the tenant to the landlord or property manager for repairs or maintenance.

Maximum Occupancy: Property guest capacity limit.

Minimum Night Stay: Shortest property booking duration.

Monthly Rate: Cost of monthly property booking.

Multi-Platform Listing: Listing on multiple booking platforms.


Net Rate: Rental income after deductions.

Nightly Rate: Cost for one night’s property booking.

No-Show: Guest failure to arrive without notice.

Non-Refundable Booking: Booking without refund option.

NRAS – National Rental Affordability Scheme: A government initiative aimed at increasing the supply of affordable rental housing in Australia.


Occupancy Rate: The percentage of time a rental property is occupied over a specific period, often calculated monthly or annually.

Occupancy Rate: Percentage of property rental time.

Off-Peak Season: Period of reduced rental demand.

OTA – Online Travel Agency: Websites or apps that allow users to book travel accommodations online.

OTP – Off-the-Plan: Buying a property before it has been constructed, based on the proposed plan or design.


P&I – Principal and Interest: A type of loan repayment structure where both the principal amount and the interest are repaid over the loan term.

Peak Season: High-demand rental period.

Pet-Friendly: Property allowing guest pets.

PMS – Property Management System: Software used to manage bookings, reservations, and property operations.

Pricing Strategy: Method for determining property price.

Property Inspection: A scheduled visit to the rental property by the landlord or property manager to assess its condition.

Property Management: Oversight and operation of a property.

Property Manager: A professional hired by the landlord to manage the rental property on their behalf.


Quality Control: Ensuring property meets standards.

Quiet Hours: Period of reduced noise activity.

Quoted Rate: Provided property stay price.


Ramp Up: Period Initial lower-revenue period after property listing.

Refundable Deposit: Guest-paid deposit returned post-stay barring damages.

REIA – Real Estate Institute of Australia: A national professional association for the real estate industry in Australia.

Rent: A payment made to a landlord, or an agent acting on behalf of a landlord for the use of property or land

Rent Arrears: Unpaid rent owed by the tenant to the landlord.

Rental Agreement: A legally binding contract outlining the terms and conditions of renting a property.

Rental Agreement: Contract outlining rental terms.

Rental Bond: See “Bond.”

Rental Yield: The return on investment generated by a rental property, expressed as a percentage of its value.

Reservation: Guest booking for a set period.

Revenue Forecast: Estimate of future property income.

Reviews: Post-stay guest feedback.

ROI – Return on Investment: A measure of the profitability of an investment, expressed as a percentage.

Routine Inspection: Regular property checks for maintenance needs.


Search Ranking: Property position in search results.

Seasonal Pricing: Variable property pricing based on season.

Security Deposit: A refundable deposit held by the host to cover damages or extra cleaning fees caused by the guest.

Security Deposit: Guest deposit for potential damages.

Self Check-In: Guest property entry without host presence.

Service Fee: A fee charged by short-term rental platforms to cover the cost of facilitating bookings.

Short-Term Rental: Property rental for brief periods.

Shoulder Season: Moderate demand period between peak and off-peak.

SMSF – Self-Managed Superannuation Fund: A private superannuation trust structure that provides retirement benefits to its members.

Static Pricing: Consistent property pricing regardless of factors.

STCA – Subject to Council Approval: A condition in a property sale agreement indicating that certain actions or changes are contingent on obtaining council approval.

STR – Short-Term Rental: Rental of a property for a short duration, often through platforms like Airbnb or

STR Insurance: Insurance policies designed to cover risks associated with short-term rentals, such as property damage or liability claims.

STR Regulations: Laws and regulations governing short-term rental properties in a particular jurisdiction.

STR Tax: Taxes imposed on short-term rental income by local, state, or federal governments.

STRA – Short-Term Rental Accommodation: Term used in regulations and policies regarding short-term rentals.

Subdividing: The process of dividing a larger piece of land into smaller lots, usually for the purpose of development or sale.

Sublet: Renting out part or all of a leased property by the original tenant to another party.

Subletting: Renting out a property that is already leased or rented by the primary tenant.

Superhost: An Airbnb host recognized for providing exceptional hospitality and earning high guest ratings.


TDC – Total Development Cost: The total cost incurred in the development of a property, including land acquisition, construction, and associated fees.

Tenancy Agreement: See “Rental Agreement.”

Tenant: A person or entity renting a property from a landlord.

Terms and Conditions: Host-set guest rules upon booking.

Torrens Title: A system of land registration where ownership is guaranteed by the state government and recorded in a central register known as the Torrens Register.

Touch Up: Clean Light property cleaning during or between bookings.

Travel Insurance: Coverage for travel-related risks.

Turnover Time: Period between guest check-out and check-in.


UCV – Unimproved Capital Value: The value of land for rating purposes, excluding any improvements such as buildings or landscaping.

Unavailability: Period when a property is unavailable for booking.

Utilities: Essential property services like electricity or water.


Vacancy Rate: Percentage of time a property is unoccupied.

Vacate Notice: A formal notice given by the tenant to the landlord indicating their intention to move out of the rental property.

VRBO – Vacation Rental By Owner: A platform similar to Airbnb for listing and booking holiday rentals.


Weekly Rate: Property booking cost for a week.

Welcome Book: Host-provided guide for property and local area information.

Wi-Fi: Wireless internet access provided at the property.


Yearly Rate: Property booking cost for a year.

Yield: The annual income generated by an investment property, expressed as a percentage of its total value.


Zoning: The classification of land by local authorities into different zones for specific uses such as residential, commercial, industrial, etc.

So whether you’re searching for your next rental property, negotiating terms with a landlord or property manager, or simply looking to expand your knowledge of the rental market, we hope this glossary helps you understand the unique industry terms and acronyms of Australia’s rental industry.

Property Providers is Sydney’s most flexible residential rental agency.  Our core purpose is “To Help People Live Better” by providing long-term luxury leasing, super luxury holiday homes and executive rentals for extended stays.  If you are interested in listing your property please contact us at +612-9969-7599 or if you are looking for a tenant or guest who is looking for a handpicked home please visit our website or brief us here