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So what are the different occupancy models that you’ve got available to you? Short term rental? Medium term rental? A long term rental. And we’ll just go over what the differences are between these models and what some of the benefits are and what they can be useful. So short term is any rental that’s between zero and 30 days. Oftentimes you’re going to want to be trying to attract customers who are interested in travel or events. So, for example, this is your BMB situation. This is putting your place up on air, BMB. People are going to be looking for somewhere to stay while they’re on holiday. Well, they could be looking for somewhere to stay while they’re trying to attend a conference or something like that. The ideal kind of property that works well for a short term rental is one or two rooms. Oftentimes it’s couples, single couples that are travelling or maybe small families. And the kind of properties that work well for this are premium properties in central locations. You want to find people with money to spend who are willing to stay as close as possible to the areas they want to visit, medium term rentals. Here we’re talking about anything that’s a month. Up to about a year in time in rental. Oftentimes, this is a split between offering to corporates. So if you’ve got someone who’s been seconded to a particular area, needs somewhere to stay for a period of time or the other classic medium term rental is students. Properties that work well on medium term rentals are have at least two rooms. You’re often talking about multiple people in student houses. Three, four, five, six people in their corpus will often want to place multiple people in a single location and they’re going to need room each. They’re not gonna be bunking with each other. And it’s key here that it’s going to be close to either business centres for the corporate clients or close to universities and university facilities for the student market. Long term rentals here. We’re talking about anything from 15 to 24 months plus. These are the long term people who are looking for homes, places to live in. Pope places call home. Ideally, furnished properties are good here. Properties that have two to three rooms are usually ideal. Again, we’re talking about either couples who are going to want to spare room or small families. And the things they’re going to be more interested in are things like being close to transport, links for commuting to work, things of that nature.
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