The process of identifying potential risks and liabilities associated with short-term renting and implementing strategies to mitigate them, often a joint effort between property owners and legal professionals or insurance providers.
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Offering reduced rates for reservations made close to the check-in date to fill vacancies and maximize occupancy during slower periods.
Optimizing short-term rental listings on Zillow, a popular real estate marketplace, to attract more potential guests and increase visibility.
A unique nine-digit number assigned to individuals or businesses by the IRS for tax purposes, required for reporting rental income.
Regularly updating and replacing furniture and decor to maintain a fresh and inviting atmosphere for guests and prevent wear and tear.