The use of algorithms and market data to adjust rental prices in real-time, optimizing occupancy rates and revenue based on factors like demand, seasonality, and competition.
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Glossary Term: Airbnb
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Tools that provide short-term rental hosts with comprehensive insights into their business performance, tracking key metrics like occupancy rates, revenue, expenses, and guest demographics.
The intentional crafting of every touchpoint in the guest journey, from pre-booking to checkout, to create a positive, memorable, and personalized stay.
The adherence to local laws, regulations, and licensing requirements governing short-term rentals, ensuring legal operation and avoiding potential fines or penalties.
A short-term rental property located within a city or metropolitan area, often characterized by its proximity to urban amenities, attractions, and public transportation.
Listing a short-term rental property on multiple online travel agencies (OTAs) like Airbnb, VRBO, and Booking.com to reach a wider audience.
A fully furnished and equipped short-term rental property that is ready for immediate occupancy by guests, requiring minimal setup or management from the owner.
The average or expected price range for a short-term rental property in a specific location and time period, based on factors like demand, seasonality, and property type.
A communication tool integrated within a platform like Airbnb or VRBO, or a third-party service, allowing hosts to communicate with guests before, during, and after their stay.
The practice of outsourcing some or all aspects of short-term rental management to a specialized company, handling tasks like guest communication, cleaning, and maintenance.
A search engine that aggregates listings from multiple short-term rental platforms like Airbnb, VRBO, and Booking.com, allowing travelers to compare prices and amenities across different sites.
A registered nurse who works temporary assignments in various locations, often staying in short-term rentals due to the flexible nature of their work.