Your Property Scorecard: How to Measure and Improve Your Property Performance
Summary
AI-generatedThis video explains how to create a comparable set (comp set) of short-term rental properties to accurately measure and improve your property's performance. Hosts will learn to select relevant comparables based on location, size, amenities, reviews, and listing duration to understand market trends and identify areas for improvement.
Key insights
A comp set is a collection of comparable properties in your market that allows you to compare your property's performance against competitors. This is crucial for understanding if your occupancy or average daily rate is underperforming.
Mistakes to avoid
Including properties that are not listed year-round in your comp set can provide skewed data, especially if your own property is available throughout the year.
Tools & resources
PriceLabstool
PriceLabs is a dynamic pricing tool that can help you create comp sets and gather valuable data on market performance, average daily rates, and booking windows.
Frequently Asked Questions
Curated by Learn STR by GoStudioM · Summary & key insights generated by AI · Reviewed by editorial