A legally binding contract between a property owner and a property manager outlining the terms of their business relationship. This agreement defines responsibilities, fees, liabilities, and other essential aspects of the arrangement.
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The percentage of time a rental property is booked over a specific period, a key metric for revenue management.
The process of optimizing a property listing on platforms like Airbnb and VRBO to improve its visibility, ranking, and booking rate.
Advertising a short-term rental property on multiple booking platforms simultaneously, such as Airbnb, VRBO, and Booking.com, to maximize visibility and potential bookings.
Investing in property improvements and amenities that enhance the guest experience, increase rental value, and attract a higher caliber of guests.