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.
VRMA - Vacation Rental Managers Association
The Vacation Rental Managers Association is a trade association of companies that act as sales agents and managers for vacation homes, condos and similar lodging.
Origin: Vacation Rental Association Link: VRMA.org
VRMLS - Vacation Rental Multiple Listing Service
The world's first Multiple Listing Service (MLS) for Vacation Rentals this is an Open-Listing and Open-Distribution system. Owner and Manager Members can post Properties once and have them distributed to websites around the world. Website Publisher Members can retrieve records and display the on their website.
Similar to the MLS's which have server real estate brokerage for decades; VRMLS is owned by the Vacation Rental Association a Not-For-Profit organization. The term "VRMLS" is an owned trademark.
See also: VRIA Origin: Vacation Rental Association Link: VRMLS.org
VROA - Vacation Rental Owners Association
The Vacation Rental Owners Association (VROA) was a trade association comprised of members who own homes and vendors who support them. Became the Vacation Rental Association (VRIA) to support all constituents in the industry.
See also: VRIA, VRMG, VRMLS, VRMA Origin: Vacation Rental Association Link: VROA.org
VVR - Verified Vacation Rental
A lodging unit that has submitted documentation and been verified as a legitimately owned and operated vacation rental by the Vacation Rental Association (VRAI.org). Designated as "Verified Vacation Rental (IVR)". Does not include physical inspection as is included in the "Inspection Vacation Rental (IVR)" Program. The term IVR are trademarks owned by the Vacation Rental Association.
See also: IVR, Inspected Vacation Rental, Blue Ribbon Rental Origin: Vacation Rental Association
Water Front Accommodations
Buildings or rooms and living units in a building which is along side a body of water, salt or fresh water. Could be major oceans, estuaries, lakes, rivers or streams. Generally means there are no other buildings between the building and the water. Not necessarily Beach Front.
See also: Ocean Front, Beach Front Origin: Vacation Rental Association
Water View
When guests can see a body of water (Such as a lake, ocean, pond or river) from some area of the property, not necessarily from all area of the property. May include Full, Partial or Peekaboo Views.
See also: View, Beach View, City View, Mountain View, Resort View Origin: Vacation Rental Association
Your Share
Rental program from Sunspot Vacation Rentals that provides advertising and bookings services to owners of timeshares who have dates available to rent.
Origin: May, William