The Future Of Short-Term Rentals
Summary
This article from "Get Paid for Your Pad" discusses key revenue management strategies for STR hosts. It emphasizes the importance of a structured pricing routine, reviewing booking data, and understanding booking windows to optimize revenue and avoid common pricing mistakes.
Key Insights
- •The biggest revenue mistake most STR operators make is the lack of a daily and weekly pricing routine.
- •Small daily price changes can increase exposure on OTAs.
- •Early bookings can indicate underpricing or upcoming events.
Action Items
- ✓Schedule revenue management, don't be reactive.Effort: lowImpact: medium
- ✓Review every booking to reveal pricing and demand signals.Effort: lowImpact: medium
- ✓Spot mistakes in minimum stays and pricing settings.Effort: lowImpact: medium
Tools & Resources
- →Freewyld Foundry: Learn more about Freewyld Foundry(https://www.freewyldfoundry.com/)
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Curated by Learn STR by GoStudioM