Forecasts of expected utility expenses for a short-term rental property, considering factors like seasonality, occupancy rates, and energy efficiency.
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Glossary Term: Budgeting
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Tools like Microsoft Excel or Google Sheets used for managing bookings, tracking expenses, and analyzing financial performance of the rental business.
The ongoing expenses associated with operating a short-term rental, including utilities, cleaning fees, property management fees, and maintenance costs.
Recurring costs associated with running a short-term rental, including utilities, cleaning fees, property management fees, and maintenance expenses.
A designated savings account where a portion of rental income is set aside to cover future property maintenance and repair expenses.
A budgeting method where short-term rental hosts start from scratch each month or season, justifying every expense and aligning it with their financial goals.
The process of monitoring and recording utility consumption at a short-term rental property, allowing hosts to track expenses, identify potential savings, and ensure accurate billing.
Managing the financial aspects of short-term rental hosting, including tracking income and expenses, setting pricing strategies, and complying with tax regulations.
The process of estimating future revenue and expenses for a short-term rental property, based on factors such as historical data, seasonality, and market trends.
A budgeting method where every dollar of income is allocated to specific expenses, ensuring comprehensive financial planning for short-term rentals.