A system for monitoring rental income, expenses, and financial performance of the short-term rental business, often using spreadsheets or specialized software.
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Glossary Term: Profit and Loss Statement
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The shared responsibility of tracking income, expenses, and generating financial reports for a short-term rental, often facilitated by property management software or collaborative spreadsheets accessible to both owners and co-hosts or property managers.
Comprehensive financial reports prepared at the end of the fiscal year for short-term rental properties, summarizing income, expenses, and profitability.