The process of calculating the profitability of a short-term rental property by measuring the financial returns (rental income, appreciation) against the investment costs (mortgage, maintenance, fees).
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Glossary Term: Short-Term Rental
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A specialized service catering to short-term rental hosts, providing high-quality linens like sheets, towels, and bathrobes, often with laundry and delivery included.
High-quality, durable, and stylish furniture pieces selected to enhance guest comfort and elevate the overall aesthetic appeal of a short-term rental property.
Durable, easy-to-clean, and aesthetically pleasing flooring options, such as hardwood, laminate, or tile, chosen to withstand high traffic and maintain the property’s appeal.
Durable, functional, and stylish fixtures, such as faucets, lighting, and hardware, that enhance the guest experience and add value to the rental property.
Providing high-quality complimentary food and beverage items, such as snacks, coffee, or local treats, to enhance the guest experience and create a welcoming atmosphere.
High-end and durable finishes, such as granite countertops, stainless steel appliances, and hardwood floors, that add a touch of luxury and enhance the value of the rental property.
Providing a well-stocked first aid kit at the rental property to ensure guest safety and preparedness in case of minor injuries.
Implementing comprehensive fire safety measures, including smoke detectors, carbon monoxide detectors, fire extinguishers, and an evacuation plan, to ensure guest safety.
A well-designed floor plan that maximizes space, functionality, and flow within the rental property, enhancing guest comfort and satisfaction.
Areas within a short-term rental property that are shared by multiple guests or units, such as common areas, hallways, or outdoor spaces.
The unique and memorable qualities of a short-term rental that make it stand out from the competition and appeal to guests.