Adjusting the terms and conditions under which guests can cancel their reservation, ranging from flexible to strict, impacting both guest booking behavior and host income stability.
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Using software to automate guest communication, such as sending check-in instructions, answering frequently asked questions, and providing local recommendations.
An important skill for short-term rental owners and managers, particularly when dealing with guest requests, pricing negotiations, and vendor contracts.
A shift in consumer behavior where people prioritize spending money on experiences and creating memories, benefiting unique and memorable short-term rentals.
Dynamic pricing models used in short-term rental management that adjust rates based on factors like seasonality, demand, and competition.