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.
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Glossary Term: Expenses
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Costs associated with a short-term rental that can be avoided or reduced when the property is not rented, such as cleaning fees, guest supplies, and booking platform fees.
A document provided by a short-term rental platform or property manager that details a host’s earnings, expenses, and net income for a specific period.
The revenue generated by a short-term rental property owner or manager after deducting expenses such as cleaning fees, platform fees, and property maintenance.
Direct costs associated with providing short-term rental services, such as cleaning supplies, toiletries, and utilities, used to calculate profitability.
The net amount of money generated by a short-term rental property after deducting all expenses, including mortgage payments, utilities, and management fees.
Major expenses related to acquiring or upgrading property assets, such as renovations, furniture replacements, or new appliances.
In short-term rental management, the point at which your total revenue equals your total expenses. This is a key metric for determining the profitability of your rental property.
The use of software or integrated platforms to automatically track income and expenses associated with short-term rentals, simplifying financial management.
A comprehensive record of all expenses incurred in a year related to a short-term rental property, including mortgage payments, utilities, maintenance, and supplies.
A calculation of profitability that factors in all revenue and expenses associated with a short-term rental property, including mortgage payments, utilities, cleaning fees, and platform fees, providing a more accurate picture of the investment’s financial performance.