This Swedish term translates to ‘occupational pension.’ While not directly related to short-term rentals, it highlights the potential for hosts to generate income that contributes to their retirement savings.
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Glossary Term: Financial Planning
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Using historical data, market trends, and predictive analytics to estimate future revenue potential for short-term rental properties.
Utilizing historical data, market trends, and booking patterns to project future revenue and inform pricing and investment decisions.
Generating financial statements and reports on a quarterly basis within QuickBooks to assess the performance of a short-term rental business over a three-month period, aiding in tax preparation and financial planning.
The process of projecting future income and expenses for a short-term rental property based on historical data, market trends, and seasonality.
Defining specific and measurable financial targets for a short-term rental property, such as desired occupancy rate or net income.
A potential tax benefit for short-term rental owners, allowing them to deduct mortgage interest paid on properties used for rental purposes, subject to specific IRS regulations.
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.
A type of mortgage where the interest rate remains the same for the entire loan term, providing predictable monthly payments for short-term rental owners.
An estimate of the potential income a short-term rental property could generate over a specific period, based on factors like historical data, market trends, and seasonality.
The practice of allocating a portion of short-term rental profits back into the business, such as property improvements, marketing, or guest experience enhancements.