When our teammate Dan recently bought a house, he decided to keep his condo and rent it out full-time on Airbnb and HomeAway. Sounds easy, right?
Outfitting a property to maximize its value as a short-term rental is expensive. First, there are significant costs associated with furniture, appliances and linens (approximately $15,000-30,000 for a 1-bedroom condo). Second, there are several service needs such as housekeeping, handy maintenance and even interior decorating. Third, there are food provisions such as coffee and milk that need to be regularly restocked. And finally, all of these expenses are TAX DEDUCTIBLE, which means they need to be tracked and managed by an accountant.
And that's where HostUp.club comes in.
Need to purchase hotel-quality bed linens or a Nest thermostat for your short-term rental property? Maybe it's time to re-up on toilet paper and coffee grounds? Order through HostUp and we will not only deliver the items promptly via partners such as Walmart and Zalando, but we will automatically add these items to a running list of tax-deductible expenses that seamlessly integrates with Xero or Quickbooks.
Need to order a maid service to clean your property before or after a booking? How about an interior decorator to help you stage your property? Perhaps a property manager who delivers keys and troubleshoots issues for guests? Even a CPA to assist with filing taxes from your rental income? Again, book these services through HostUp and we will automatically add these items to a running list of tax-deductible expenses that seamlessly integrates with Xero or Quickbooks.
Users can even scan receipts of property-related expenses incurred outside of HostUp and we will categorize these expenses and leverage this data to recommend great deals from our merchant partners, such as terry-cloth bathrobes from Zalando or a bulk order of discounted toilet paper from Walmart. Not only do we make it easy to track your expenses, we also identify ways to improve one's home and save on such purchases.