Outsourced Accounting: The Secret of Successful Vacation Rentals

Outsourced Accounting: The Secret of Successful Vacation Rentals

Outsourced Accounting: The Secret of Successful Vacation Rentals What differentiates successful vacation rental businesses? Many people assume it’s about having a portfolio of beautiful homes to rent in ideal locations. Others think it’s about how you market the properties or handle the maintenance. All these things are important, of course, but the answer is more…

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Vacation Rental Property Management Key Performance Indicators

Vacation Rental Property Management Key Performance Indicators

Gross Rental Revenues We will start with the obvious one, rental revenues. Every vacation rental property manager should be tracking this metric month-over-month, year-to-date and season to prior year season. However, going further should tell an even better story.  For example, calculating rental revenues by property, destination (if multi-destination manager), area of town, owner, channel…

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Trust Accounting for Vacation Rental Managers

Trust Accounting for Vacation Rental Managers

One Bank Account or Two? There really is not much of an option here. Two bank accounts (at least) are needed to appropriately administer trust accounting. One of the most basic requirements of trust accounting as required by law, is that there be no commingling of company funds and property owner funds. While trust accounting…

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