SHORT TERM RENTALS
Our customized monthly accountability program will meet the needs of any short-term real estate portfolio, whether a single unit or many.
Let our personalized strategies and guidance propel you to the next level of success.
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Key benefits of our monthly accounting for short-term rentals:
1. Accurately record income - net of fees, sales tax, deposits. Gone are the days when bank deposits equal revenue. With the online platforms, an accurate revenue number is a critical first step in determining overall profitability.
2. Calculation of operating expenses v. capital expenses - this is a key indicator of profitability for the property, and yet often missed by investors. While from a cash flow standpoint a dollar spent is a dollar spent, to a perspective investor or lender, there is a key difference between a capital improvement and an ongoing operational expense.
3. Key performance indicators - it is important to have a solid understanding of the KPI’s related to your properties, including occupancy rate, average nightly rate, and overall market trends.
Tax Planning Solution
• Create and update our master entity schedule for quarterly results, highlighting changes in current year master tax plan.
• Update master ownership schedule showing impact of current results on ownership tax strategy for current year.
• Preparation and filing of quarterly payments if recommended as part of quarterly tax plan.
• Review distribution plan for future quarters based on current-quarter results.
We provide a custom, 'bank level' encryption cloud storage site for all business documents, accessible by managers if authorized. We assist in the organization of business documents, protected, and accessed only by assigned individuals. Our cloud storage site is a protected alternative to the use of 'google drive and allows owner the peace-of-mind that documents are safely stored but accessible. This innovative solution eliminates the need for sending files through email that can be lost and/or stolen.