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News & Tips to help you with your short-term rental.
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How Many?!
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As of today, April 30, 2023, VRBO reports 29,618 Short Term Rental properties in Arizona. Yikes.
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Skift speaks to AirBnB Global head of hosting...
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Speaking to Skift CEO Rafat Ali at the Future of Lodging Forum 2023 in London, Catherine Powell, global head of hosting at Airbnb, discussed the importance of hosting
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This issue: Pricing Tips!
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Are you struggling to price your short-term rental in Northern Arizona? You're not alone! As a vacation rental owner or manager, pricing is one of the most important factors in the success of your property. However, it can be a challenging task, especially in today's market where projected occupancy for Northern Arizona rentals is 30-50% below the past two years.
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To effectively price your property, you need to take into account its location, size, number of bedrooms and bathrooms, as well as supply and demand. With the recent surge in vacation rental travelers due to the pandemic, property owners and investors have flooded the market with new properties, resulting in reduced occupancy and lower prices.
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But don't worry! There are ways to stand out from the competition and maximize your revenue. One of the most important factors is the character of your property. Amenities, furnishings, decorations, and overall vibe are all essential elements that can set your property apart and attract more bookings, even in a saturated market.
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While revenue management solutions that use big data and machine learning can help automate pricing for you, they can't fully capture the unique character of your property. You still need to fine-tune the assumptions these models use to ensure that your pricing is accurate and competitive. Don't be afraid to experiment with different pricing strategies to find what works best for your property.
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At Classy Cabins AZ we understand the challenges of pricing short-term rentals in today's market, especially in Northern Arizona. That's why we offer a full suite of management services to help you maximize your revenue and stand out from the competition. Our team of experts will work with you to develop a customized pricing strategy that takes into account your property's unique features, as well as local market trends and seasonality. Let us help you take your short-term rental to the next level and achieve the success you deserve!
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