Mari Roper, Ximplifi Author

Short-Term Rental Bookkeeping Guide

In the ultra-competitive short-term rental landscape, accurate and efficient bookkeeping is no longer optional – it’s a fundamental pillar of sustainable business growth. With the US vacation rentals market set to hit $21.08bn by 2025, we know that property managers, real estate professionals, and SMB owners in the vacation rental sector need financial clarity. …

Meet Finn, Ximplifi’s Accounting Mascot!

Finn the Hedgehog First Name: Finance Nickname: Finn Occupation: Accounting Mascot Employer: Ximplifi, A KeepingCount Company Height: 3.9 inches Birthday: September 15 Hometown: North Carolina Hobbies: Hiking, Foraging, Cooking, Gardening, Doing Puzzles, Playing Frisbee Golf About Me Hi, I’m Finance, but you can call me Finn. As Ximplifi’s mascot, people always ask me, “what does…

Prepare Your Vacation Rental Business for Peak Season

Navigate The Unexpected Challenges of Peak Season With peak season just around the corner for vacation rental managers, it’s easy to get caught up in the exciting prospect of increased bookings, higher occupancy rates, and improved average daily rates (ADR). However, these aren’t the only things you can expect. Peak season brings a host of…

1099 Compliance for Short-Term Rental Managers

1099 preparation vacation rental manager

Key 1099 Compliance Tips for Property Managers Tax season is a notoriously stressful time for everyone, but for short-term rental managers, the challenges of 1099 compliance can make it even more frustrating. With the need to collect accurate W-9 forms, verify taxpayer information, and issue 1099 forms to both homeowners and vendors, the process can…

Trust Accounting Dos and Don’ts

vacation rental accounting computer office

DOS: Separate Accounts: Maintain separate bank accounts for operating funds and trust funds to avoid commingling. Two bank accounts (at least) are needed to appropriately administer trust accounting. While trust accounting is not required in every state for short-term rental property managers, trust accounting and separate bank accounts is the best way to track owners’…

Impact of Fixed vs. Variable Expenses on Vacation Rental Revenues

Here’s what you need to know to understand fixed and variable expenses in short-term rental revenue strategy: Fixed expenses are consistent costs like mortgage, insurance, and taxes, while variable expenses fluctuate with occupancy, such as cleaning fees and OTA charges Fixed expenses help set cost targets but variable expenses determine pricing decisions Dynamic pricing can…

Short-Term Rental Tax Compliance for Property Managers

Achieving short-term rental tax compliance can be a complex, nuanced process, from understanding filing timelines and frequencies to license registration and revenue reporting. The goal of this article is to put your mind at ease as a property manager and keep your business in good standing. Continue reading to find answers to common questions related…

3 Ways That Property Managers Compare Sage Intacct to NetSuite

In this article, we’ve collected customer reviews and ratings from G2.com to compare Sage Intacct and Oracle NetSuite on three important features that property managers need out of their financial software. We trust these ratings because G2 is an independent company with over 1.7 million software product reviews. They are not paid for or sponsored…

7 Financial Housekeeping Tips for Vacation Rental Managers

Imagine your business is one of your rental properties. No matter how much curb appeal it has, if the interior is a mess, it’s not going to live up to its potential. The same logic applies when it comes to your property management company. Even before going public, many successful companies depend on clean financials…

Revenue Management 101 for Vacation Rentals

Revenue management for vacation rentals is more than pricing Dynamic pricing has been a cornerstone of the hospitality business for more than a decade, but it’s only one piece of revenue management for your vacation rental business. Even for companies who operate with very little overhead costs, if you don’t know how your variable costs…