Decisions and actions taken by a short-term rental property owner regarding their property, pricing, guest selection, and overall management, typically within the bounds of platform policies and local regulations.
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Glossary Term: Property Management
221 posts
Expenses associated with owning a short-term rental property, encompassing mortgage payments, property taxes, insurance premiums, utilities, maintenance, and potential HOA fees.
A financial document provided by a property manager to the owner, outlining all income generated and expenses incurred for a specific period, typically monthly or quarterly.
An individual or company hired by a property owner to handle the day-to-day operations of a short-term rental, including guest communication, cleaning, and maintenance.
A hands-off approach to short-term rental investing where property management and operations are outsourced to a third-party company.
The ongoing expenses associated with running a short-term rental business, excluding the cost of acquiring the property. This includes items like utilities, maintenance, and property management fees.
The process of simplifying and automating tasks related to managing a short-term rental, such as guest communication, cleaning, and maintenance, to improve efficiency and reduce workload.
A structured introduction provided to new hosts by a property management company, covering topics like listing optimization, guest communication, and legal compliance.
Characterizes a highly efficient and integrated approach to managing short-term rentals, often leveraging technology and automation to streamline operations.
Hiring external cleaning companies or individuals to clean and maintain short-term rental properties between guest stays.
Managing short-term rental properties remotely, often using technology and local contractors to handle day-to-day operations.
Costs incurred directly by a host or property manager for running their short-term rental business, such as cleaning supplies, maintenance, and guest amenities.