The legal and financial framework under which a short-term rental property is owned, such as sole proprietorship, partnership, or LLC.
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Glossary Term: Partnership
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A type of property management where two or more parties, often the homeowner and a property management company, share in the responsibilities and profits of short-term renting.
A legally binding contract outlining the terms of a business partnership between two or more parties, typically for a specific project or period in the short-term rental industry.
When two or more individuals or entities share ownership of a short-term rental property and collaborate on its management and hosting responsibilities.
A German legal structure similar to a general partnership, sometimes relevant for property co-ownership in the context of short-term rentals.
A collaborative agreement between short-term rental businesses to promote each other’s services or products.
An arrangement where two or more individuals share the responsibilities of managing a short-term rental property.
The legal framework under which a business operates, such as a sole proprietorship, partnership, limited liability company (LLC), or corporation. Choosing the right business structure for a short-term rental business has implications for liability, taxation, and administrative requirements.
A marketing model where hosts partner with other businesses to promote their listings on external platforms, earning a commission for each booking generated through the referral.