Long-term rentals typically involve leasing a property for an extended period, often a year or more, while short-term rentals cater to transient guests seeking temporary accommodations.
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The legal landscape surrounding short-term rentals is complex and varies significantly by location. Hosts must navigate a myriad of regulations, including zoning laws, taxes, and licensing requirements, to ensure compliance and avoid potential legal issues.
Read MoreDecember 18, 2024
Case Study on Holiday Decor in Broken Bow - Hochatown
Cost = one time investment of $350-$600
Revenue impact – 2X bookings b/t Thanksgiving and Christmas
Property A - with holiday décor (Above)
Property B - without holiday décor (Above)
Take note of how similar the properties are to each other. Both properties are 1 bed / 1.5 bath cabins that can accommodate 5 people and amenities offered are identical (hot tub, fire pit, playground, etc).
The below graphs show the last 12 months of revenue by month for both properties.
Property A - with holiday décor (Above)
Property B - without holiday décor (Above)
Notice how in November property A with holiday décor performs better than the monthly average revenue by $3K+ whereas property B does worse by ($800+).
The below calendars show December booked days (in Purple) and $ amounts booked for both properties.
*Booked days in Purple.
Property A - with holiday décor (Above)
*Booked days in Purple.
Property B - without holiday décor (Above)