Short-Term Rental Tax Compliance for Property Managers

Short-term rental tax compliance

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…

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VRPatform + OwnerRez Partner for VRM Accounting

OwnerRez accounting Partnership

We are excited to share that OwnerRez users are now eligible to receive ongoing VRAccounting services thanks to the newly developed integration partnership with VRPlatform!  The new integration between VRPlatform and OwnerRez allows users to automatically sync reservations, fees, and payment data into QuickBooks Online for simplified trust accounting.     Outsource with Ximplifi For…

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Top 5 advantages of outsourcing

Top 5 advantages of outsourcing

Top 5 advantages of outsourcing accounting: Cost savings. Taking into consideration the full cost of full-time employees (salaries plus employer taxes, recruiting fees, and benefits, and more.), the cost of outsourcing is typically similar and often less because of the use of best practices, powerful software and access to employees on a fractional instead of…

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What to Look for in an Outsourced Accounting Firm for your VRM Business

What to Look for in an Outsourced Accounting Firm Here’s a common misconception about outsourcing: Any firm you choose must be better than what you already have. People assume that once they’ve selected an outsourcing firm, their problems are solved. But some firms are better than others. And while the option you choose may improve…

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7 Financial Housekeeping Tips for Vacation Rental Managers

Financial Housekeeping

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…

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Simplify Vacation Rental Accounting with Guesty x VRPlatform

Guesty: A Vacation Rental Management Solution Established in 2013 by twin brothers Amiad & Koby Soto, Guesty is an end-to-end hospitality operations platform built to optimize and automate every aspect of your hospitality operations. With advanced technology, industry-wide expertise, and a team of 200+ engineers, Guesty saves time, maximizes revenue, and keeps your business ahead…

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Outsourcing vs. Upgrading: Two Options for Vacation Rental Accounting

outsource or upgrade accounting

Outsourcing vs. Upgrading: Two Options for Vacation Rental Accounting The exacting demands of trust accounting create huge headaches at most vacation rental management businesses. Trust accounting is a time- and labor-intensive obligation that repeats month after month. Even harder, the particulars of trust accounting are foreign to many working accounting professionals and hard to learn…

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Best Practices for Month-End Close in Vacation Rental Management

Best Practices for Month-End Close in Vacation Rental Management

Best Practices for Month-End Close in Vacation Rental Management The month-end close puts extra strain on vacation rental management businesses. They’re not just accountable to themselves; they send month-end reports to property owners who will expect to see positive numbers presented on time. The month-end close consumes a lot of resources and inspires a certain…

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The True Cost of Employees

The True Cost of Employees Companies outsource accounting functions for many reasons: to overcome a talent shortage, to gain specialized expertise, to scale their staff fast enough to keep pace with growth. But perhaps the biggest reason a company considers outsourcing in the first place is to cut costs. They want to do the same…

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Trust Accounting: Crucial For Vacation Rentals

Trust Accounting: Crucial For Vacation Rentals

Trust Accounting: Crucial For Vacations Rentals Vacation rental managers are really in the business of trust accounting. No matter what range of services they provide or how many properties they oversee, their fundamental role is to make sure funds flow from renters to property owners (and themselves) correctly. If managers need to get one thing…

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