A hypothetical term emphasizing the importance of understanding and adhering to local regulations, tax laws, and insurance requirements related to short-term rentals. Ensuring legal compliance is crucial for avoiding penalties and protecting your business.
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A booking type where guests are not entitled to a refund if they cancel, often offered at a discounted rate.
The revenue generated by hosts from short-term rentals after deducting expenses such as platform fees, cleaning costs, and maintenance.
The process of researching and evaluating similar short-term rental properties in the same area to understand market trends, pricing strategies, and competitive…
This psychological principle, where higher expectations lead to increased performance, can be applied to STR guest interactions. Treating guests with high expectations…