Short Term Rental Riches 168. Renting Your Property By the Hour
Jan 31, 2023
Ever considered renting your property by the hour? This unique strategy allows you to tap into new revenue streams without heavy modifications to your space. The discussion covers the benefits of using platforms like Peerspace, the risks involved, and who this approach might suit best. Learn about the legal aspects, potential challenges, and how to make the most of your existing setup. It's all about maximizing your rental opportunities in innovative ways!
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2023 Occupancy Trends
- Occupancy rates for short-term rentals have generally decreased in 2023.
- Boosting occupancy requires listing properties on multiple platforms beyond just Airbnb.
Renting By The Hour Insight
- Peerspace allows short-term rentals to be listed and rented by the hour, not by the night.
- This platform targets uses beyond overnight stays, such as photography and events, expanding revenue opportunities.
Identify Hourly Rental Uses
- Consider property uses like photography shoots, work events, or family gatherings when renting by the hour.
- Evaluate if your property can attract short, hourly bookings to increase occupancy and revenue.