A predetermined amount of money set aside by hosts to cover the expected depreciation of furnishings, appliances, and other property features due to normal use by guests.
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Glossary Term: Depreciation
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The normal deterioration or damage that occurs to a property over time due to regular use, often accounted for in security deposits and cleaning fees.
The expected deterioration of a rental property and its furnishings due to normal use by guests over time.
Strategies for minimizing tax liabilities associated with short-term rental income. This can involve deducting eligible expenses, taking advantage of depreciation deductions, and consulting with a tax professional.
The expected deterioration and damage that occurs to a property over time due to normal use by guests, considered a standard operating expense in short-term rentals.
The normal deterioration of a property and its furnishings due to regular use over time, as opposed to damage caused by negligence or misuse.
The original cost of an asset, such as a property, used to calculate capital gains or losses for tax purposes. Important for hosts to track for financial management and tax reporting.