A metric that measures how frequently a vacation rental property is booked and occupied over a specific period, reflecting its popularity and profitability.
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Glossary Term: Profitability
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Digital tools designed to assist short-term rental owners and managers in monitoring income and expenses for tax and financial analysis purposes.
A measure of the profitability of a short-term rental property, calculated by subtracting operating expenses from revenue.
Refers to the financial rewards and benefits associated with owning and renting out a successful vacation rental property. This can include rental income, property appreciation, and tax advantages.
Generating financial statements and reports that track income, expenses, and profitability of a short-term rental business.
The total income generated from short-term rental bookings, including nightly rates, cleaning fees, extra guest charges, and other potential revenue streams, minus expenses such as platform fees, cleaning costs, and property maintenance.
Tracking income and expenses, setting financial goals, and optimizing pricing strategies to ensure the profitability and long-term success of the short-term rental business.
The total revenue generated from short-term rental bookings during the third quarter, minus all expenses incurred, including cleaning fees, management fees, and taxes.
A metric calculating the annual rental income as a percentage of the property’s value, indicating the profitability of a short-term rental investment.
A measure of the profitability of a rental property, calculated as the annual rental income divided by the property value.
Meticulously recording all income and expenses related to the short-term rental property for accurate financial reporting, tax purposes, and profitability analysis.
A comprehensive approach to managing short-term rentals that leverages technology, data analysis, and industry best practices to optimize operations, enhance guest satisfaction, and maximize profitability.