In my journey working on Bnbtally, I’ve come across many Accountants and Property Managers in the Airbnb and short-term rental industry. In this article, I’ve compiled a list of the most common costs involved in operating an Airbnb business. I present here a chart of accounts, which you can use to set up QuickBooks for your Airbnb and short-term rental organization.
For Airbnb hosts and property managers who use property management software and host Airbnb listings mostly outside of the US, Airbnb is moving away from the split-fee pricing model and is moving towards what they call a “simplified fee structure”. For hosts within the US, this may be a glimpse of what may come.
If you manage or own a property on Airbnb, you can get burned at tax time if you’re not careful with how you interpret Airbnb’s 1099-K. The topic of this article is about the numbers Airbnb reports to the IRS in their 1099-K for each Host, these numbers are higher than what is actually paid out.