How the terms "property" and "room" are used.
Properties can be hotels, hostels, B&B´s, holiday houses, vacation rentals, apartment houses, camp sites. You can set up and manage:
Rooms are a way of splitting a property into separately bookable units. Rooms can, but do not need to, represent ''physical'' rooms.
"Rooms" can be bedrooms in a hotel or B&B, vacation rentals, holiday homes, beds in hostel dormitories, camp sites, houseboats, cabins, tours, classes or cars etc.
If you are renting your property i.e. a holiday house or vacation rental as a whole, you still need to have one "room" which this case represents the complete property.
When you sign up you automatically have one property and one room.