The ongoing practice of monitoring and evaluating the short-term rental market on a weekly basis, identifying trends in pricing, demand, competitor activity, and local events that could impact rental strategies.
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Glossary Term: Market Research
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Researching and analyzing the performance of short-term rentals in specific zip codes, identifying areas with high demand, occupancy rates, and potential for rental income.
Research conducted to understand the performance of short-term rentals in a specific location, including factors like occupancy rates, average daily rates, and competitor analysis.
Research and evaluation of the short-term rental market in a specific location to determine factors like occupancy rates, average daily rates, and competitor pricing.
The process of collecting, analyzing, and interpreting data related to short-term rental performance, such as occupancy rates, average daily rates, and guest reviews, to make informed business decisions.
Conducting thorough research on competitor pricing, local demand trends, and guest preferences to inform pricing strategies and optimize listing performance.
Research on the performance of short-term rentals in a specific area, including occupancy rates, average daily rates, and demand trends.
Data and insights gathered from various sources to understand booking patterns, guest behavior, and market trends.
The process of finding and acquiring suitable properties to add to a vacation rental management portfolio.
Examining historical data, such as occupancy rates and booking patterns, to identify patterns and predict future demand.
The process of researching and comparing the average nightly rates of similar short-term rental properties based on their square footage in a specific location, used to inform pricing strategies.
The typical spending patterns of target guests in a specific market, influencing pricing strategies and amenity offerings.