The ability to manage and run your short-term rental business smoothly and cost-effectively, maximizing guest satisfaction and profits.
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Glossary Term: Profitability
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The recurring costs associated with running a short-term rental, including cleaning fees, property management fees, utilities, and maintenance.
The expenses incurred in the day-to-day running of a short-term rental property, excluding major renovations or capital expenditures.
Refers to the overall trends and conditions within the real estate market in New Jersey, directly impacting the demand, pricing, and profitability of short-term rentals in the state.
A financial metric calculated by dividing the annual rental income after expenses by the total property investment, indicating the profitability of a rental.
The profit earned from a short-term rental property after deducting all expenses, including cleaning fees, management fees, and platform fees.
Focuses on the financial aspects of short-term rental management, including revenue generation, expense tracking, and profit optimization.
Using income generated from short-term rentals to cover part or all of the mortgage payments on a property, potentially making it a profitable investment.
Recurring costs associated with running a short-term rental, including utilities, cleaning fees, property management fees, and maintenance expenses.
The phase in a property’s lifecycle where rental income is stable, occupancy rates are consistent, and the focus shifts to maximizing profitability and efficiency.
The process of determining the profitability of a short-term rental by subtracting expenses from revenue, expressed as a percentage.
A specific segment of the short-term rental market with high demand and potential for profitability, like pet-friendly or eco-conscious rentals.