From Wazeopedia

Current wording at the top of Places page:

Places are searchable destinations in the Waze map. They are similar to the "Points of Interest" found in certain popular GPS devices.

Area Places

Appear as polygons in the Waze app map. Too many of them can clutter the map, creating large gray or green zones that do not help Wazers orient themselves. Therefore, it is important to use area places only when they are distinctive and significant enough to orient drivers, Exceptions include gas stations, and parking lots which receive special handling.

Point Places

Don't appear on the Waze app map. They can be used to help Wazers find public places, especially when they are not already listed in the other destination search engines.

Residential Point Places

Don't appear on the Waze app map. They can be used for help Wazers find addresses by searching; can be used for residences or businesses.

Add step 6 to Creating Residential point places

6 If a House number (HN) anchor position is >50 m away from the proposed position of the RPP triangle, then the RPP will not save. Delete the HN and wait at least two Tile updates (TUs) and then save the RPP. The proposed RPP can either be saved in the correct location as a point place (just has to be converted to RPP after TUs) or as a RPP within 50 m of the HN anchor location (Has to be moved to correct location after the TUs). It is recommended that a map comment (MC) be put over the RPP to both remind editors to fix it and to easily find the area again.