A legally binding contract between a property owner and a property manager that outlines the terms and conditions of their business relationship.
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The process of determining the profitability of a short-term rental by subtracting expenses from revenue, expressed as a percentage.
Providing guests with the option to rent additional furniture or equipment during their stay, such as cribs, high chairs, or extra beds.
The rivalry among traditional lodging establishments like inns and short-term rentals in Old Lyme, Connecticut, for tourist bookings and revenue.
Effective and personalized communication with guests throughout their stay, from pre-booking inquiries to post-stay follow-ups, to enhance satisfaction and encourage positive reviews.