Everything You Need To Know About Laws For Short-Term Rentals In All Cities In The United States "Short-term rental laws...". We've all heard the phrase. It's a vague and intimidating thought. The legality of renting out your home is an extremely [...]
Discrete Choice Experiments (DCEs) Discrete choice experiments, or DCEs, are a sampling technique used to collect data and derive demand curves for various attributes of products. They are typically conducted in retail settings, but they can also be used in other industries [...]
Unlock the Benefits of Early Planning: 5 Reasons to Set Your 2023 Budget Now Congratulations on taking the initiative to set a budget for 2023! Establishing a budget can be overwhelming, but it's essential to achieving your financial goals. This will [...]
Revenue Opportunity Revenue managers have a finite amount of daily time to make decisions. Each decision they make should improve the probability of increased revenue, and they must spend that time efficiently to have the most significant possible impact on revenue [...]
Pricing, forecasting, and benchmarking: Master the two primary sources of competitive data Competitive data in the short-term rental market gives managers answers to important questions regarding their pricing strategy. This type of data is also used in revenue management and pricing [...]
Forecasting Revenue: Why is it Vital for Vacation Rentals? ✅ The basics of Forecasting The term forecasting can be intimidating for those who have not done it before, but it does not need to be that way. In its most [...]
The RevPAR Breakdown “Turnover is vanity, profit is sanity, but cash is king for your business.” 👑 Cash is King That is a widely used quote highlighting the most crucial metric in any business. Short term and vacation rentals can [...]
Occupancy (OCC) Occupancy is a metric represented as a rate or percentage used by vacation rental managers to describe how full their properties are. A single vacation rental can be 50% occupied for the 4th of July weekend, or an entire portfolio [...]
Who are your competitors? This question seems simple enough. Competitors are companies that you are competing with to win customers. For most businesses, a search of the web would help you find the majority of your competitors. For short-term rental (STR) managers, identifying competitors [...]
Which cancellation policy should you choose? Cancellations are never fun. Historically the vacation rental industry has enjoyed a host-friendly cancellation policy structure. It is common for property managers and homeowners to use strict cancellation policies giving traveling guests little to no flexibility. Naturally, the cancellation [...]
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