Vacation Rental Management
Memorable Moments from VRNation 2024
VRNation rebrands and pushes back on Airbnb One message that came through clearly was a push for property managers to differentiate their business from Airbnb and get away from competing on price. For VRNation, (formerly North West Vacation Rental Professionals), the organization’s rebranding is a signal to the world that it’s time for vacation rental…
Read MoreImpact 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…
Read MoreShort-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…
Read More4 Financial Reporting Tips for Property Managers
When you think about the myriad of things that are rapidly changing in the hospitality sector every day, companies – especially those managing short-term rentals – need to be able to leverage data effectively in order to adapt and succeed in this dynamic environment. If you’re a property manager looking to grow your organization, and…
Read MoreTop 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…
Read MoreWhat 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…
Read More3 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…
Read More7 Keys to Selecting Financial Software for Property Management
Introduction When researching robust financial software and ERP solutions for property management companies, two solutions often come to the top of the list: Sage Intacct and Oracle NetSuite. Both provide an array of core accounting capabilities, serve customers globally, and can perform advanced reporting functions, but there are a few key differences that property managers…
Read More7 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…
Read MoreRevenue 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…
Read More