On this week’s episode of Short Term Rental Management, Luke breaks down his “Month Math” method—a no-nonsense approach to evaluating whether your nightly rates are realistic or simply driven by ego. He urges hosts to calculate what an entire month of bookings would gross and compare it to their monthly expenses. If your pricing implies a huge profit but you’re sitting vacant, it’s time to lower your rates. Luke emphasizes value, humility, and adapting to today’s market conditions.

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For more information on how to get into short term rentals, read Avery’s books:

Smarter Short Term Rentals - Buy it on Amazon
Short-Term Rental, Long-Term Wealth: Your Guide to Analyzing, Buying, and Managing Vacation Properties – Buy it on Amazon