The portion of a short-term rental property’s value that the owner owns outright, calculated as the property’s market value minus any outstanding mortgages or loans.
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Glossary Term: Mortgage
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Some insurance companies or lenders might have minimum property value requirements for short-term rental insurance or mortgages.
The annual cost of borrowing money, expressed as a percentage rate that includes interest and other fees, often associated with financing a short-term rental property.
A type of mortgage where the interest rate fluctuates based on market conditions. This can impact short-term rental owners who use mortgages to finance their properties, as fluctuating interest rates can affect profitability.