STR News.

A vacation rental property, a dream cabin with a private beach in Grand Marais, is listed for $1.2 million. This news is relevant to hosts as it highlights the luxury end of the market and potential property values. Hosts can use this information to benchmark their own property's valuation and consider amenities that attract high-end guests.

This article from Get Paid For Your Pad discusses how renovating existing STR properties, specifically cabins, can increase revenue by attracting the ideal guest and maximizing occupancy. It emphasizes the importance of researching market demands using tools like AirDNA and creating a realistic budget, and touches on revenue management routines.

This article discusses revenue management in short-term rentals, emphasizing the importance of scheduled pricing routines, analyzing booking behavior, and understanding the impact of booking windows. Hosts should implement a daily and weekly pricing review process to optimize revenue and stay ahead of the market.