Heartlandbnb.com

27/11/2023

Just a couple of days before , the revised its for sending 1099-K forms. As in past years, only those with exceeding $20,000 AND with over 200 transactions will receive these forms.

Be sure to check your listing for any that may have been sent to the IRS or possibly your state.


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Just a few days ago, the IRS announced that it will not send out 1099-K forms for Airbnb hosts if revenue exceeds $600.

09/09/2023

Repair...maintenance...what's the difference? Pretty simple really.

Repair is when something breaks and needs new parts and the labor to make the repair.

Maintenance is what is done so that something doesn't need repaired.

As for the cost of repairs, it could be a lot, but more often it isn't that much. Repairs might include fixing a dripping faucet or painting over some wear and tear. I recommend reaching out to other Airbnb owners in your neighborhood or community to find out what their budget estimate might be for repairs.

Repair...maintenance...what's the difference? Pretty simple really.

04/08/2023

Owning and operating a vacation rental is taxing! So it pays (pun intended!) to estimate your potential income using some sources listed below. Understand IRS - Schedule E!! See links to Ernst & Young and Charles Schwab. My spreadsheet is on my webpage.

Airbnb, AirDNA's Rentalizer and Transparent Short-Term Rental Calculator entice potential hosts with a quick, and dirty estimate of the income potential of your home or other property.

27/07/2023

For any host just starting out, making a profit is a very important goal. Many potential hosts might troll YouTube and find many so-called “influencers” hyperventilating about all the money that can be made - if only! My advice is: Don’t follow their advice.

When I started looking at owning vacation rentals, I saw lots of YouTubers and other self-proclaimed experts telling everyone and anyone that they can make thousands on Airbnb. Just subscribe or buy my online how-to book...

08/07/2023

Your name defines who you are. Similarly the name of your property defines it. Here is a bad example: “ 2-BR House Near ”: what is cozy? which lake? Guests will search for bedrooms. Look below for good advice!
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Before jumping onto the Airbnb site to add your property (also called "create your listing"), take some time to think about the name of your property. Establishing your brand now will help later on during your listing wh...

20/06/2023

As a host, your property may be your neighborhood home. Or another apartment downtown. Most of the time, your home will be considered as a residential property. And the apartment will be a commercial property. BUT once the host runs a small business in a neighborhood, it could be zoned as commercial!

If the vacation rental is in your own home, then it is considered a residence. The city or county will classify or zone your property as residential.

08/06/2023

Many recommend how hosts can “clean up” by making on Airbnb. But potential should know that cleaning skills will determine whether your business with or ! @northdakotalegendary .co

Starting up a vacation rental on Airbnb is, virtually by definition, starting a small business. As a host you will do it all…yourself! (And you won’t be smiling as you clean either!)

03/06/2023

Before jumping on Airbnb, hosts should survey their local to determine whether their , community, city or county have placed restrictions on opening and operating a vacation rental.

While you're pondering whether you would like to be a "host" with strangers (i.e. "guests") in your home or property, it is just as important to survey the local landscape - not for trees and lakes, but for the rules and...

30/05/2023

By listing your home or other property on Airbnb, you become a host. Your guests will be strangers. Airbnb will have done some due diligence by confirming their identity (and yours). But ask yourself, "Do I (we) really want to welcome complete strangers into our property?" 🤔
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Probably the most important question to ask yourself is this.

25/05/2023

🚗 Happy National Road Trip Day! Hit the open road and explore new places this summer with our travel blog. heartlandbnb.com 🌎🛣️