Utilizing Zillow’s Zestimate tool to estimate the market value of a property for short-term rental purposes, helping hosts understand potential rental income and property valuation.
Menu
Glossary Term: Rental Income
58 posts
A predetermined amount deducted from a security deposit or rental income to cover the normal depreciation of property and furnishings due to guest use.
Digital tools designed to assist short-term rental owners and managers in monitoring income and expenses for tax and financial analysis purposes.
The practice of strategically setting rental rates to maximize occupancy and income, often using dynamic pricing tools and market analysis.
The compensation paid to a property manager or management company for their services in overseeing the rental property, typically a percentage of the rental income.
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.
A strategy where someone rents a property long-term and then sublets it as a short-term rental for a higher price.
A situation where the number of available short-term rentals in a specific market exceeds the demand from travelers, potentially leading to lower occupancy rates and rental income.
A metric calculating the annual rental income as a percentage of the property’s value, indicating the profitability of a short-term rental investment.
The practice of analyzing data and implementing strategies to maximize revenue from a short-term rental property. This involves optimizing pricing, availability, and marketing efforts.
A unique nine-digit number assigned to individuals or businesses by the IRS for tax purposes, required for reporting rental income.
The period, typically in the early months of the year, when individuals and businesses are required to file their annual income tax returns. Short-term rental owners need to be aware of tax deadlines and obligations related to their rental income.