We have a property that we run as a short term rental using AirBNB and VRBO. We are doing rental arbitrage with it. What’s the best way for me to categorize the payment that we make to the “Landlord” each month? I’ve been doing “Mortgage Payment” but I don’t know if that’s the best way. Thank you so much for any help anyone could give.
Would like to know this too. I also have the same question.
Following. We have a few properties that we rent via AIR BNB and VRBO.
Good question. We don’t have a category specifically for this scenario, but if you’re using “Income > Short Term Rents” for rental income (Money In), you might want to use “Income > Rents” (Money Out) for master lease payments (assuming you’re not already using this for something else). That would allow you to see master lease payments on a separate line, and then the Total Income line will show you the net rent received.
Keep in mind that while Stessa is built to be flexible enough to handle different income and expense situations, but we do not provide specific tax advice. You’ll want to check with your CPA for more information about how to handle this scenario.