The process of adjusting rental prices based on factors like seasonality, demand, and competition to maximize occupancy and revenue.
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Glossary Term: Occupancy Rate Optimization
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Offering discounted rates or special offers to attract bookings, especially during low season or for last-minute reservations.
Utilizing Zillow’s market data and insights to inform pricing strategies, identify rental demand trends, and optimize occupancy rates for your short-term rentals.
A pricing approach where hosts set the lowest acceptable nightly rate for their short-term rental, often used during low season or to attract last-minute bookings.
The shared responsibility of optimizing pricing strategies, analyzing market trends, and maximizing rental income for a short-term rental, often undertaken by property owners, co-hosts, or specialized revenue management services.
Implementing strategies to maximize income from short-term rentals, including dynamic pricing, seasonal adjustments, and upselling additional services.
The typical timeframe in advance that guests book short-term rentals in a particular market or for a specific property type, influenced by factors like seasonality and demand.