Frequently Asked Questions
Why should I use this vs spreadsheets?
Spreadsheets are useful, but they're a pain to maintain. And you're either saving them locally or you've got them on a drive in the cloud somewhere. With myVRnumbers, you've got all your information at your fingertips from wherever you are through this web application. The site is mobile friendly, so you can use it on your phone. And there's also the sharing aspect. When we were looking for our second home, it was almost impossible to get clean, accurate revenue data on potential properties. We were always sent messy spreadsheets that not only looked un-professional, but every spreadsheet from each seller was in a different and often confusing format.
What are share links for?
If you're needing to share your numbers with your CPA during tax time, you can do so via a share link. It provides a read only view of your property's revenue vs. expenses. Your CPA can filter on specific timeframes and filter tax deductible expenses only, etc.
If you're trying to sell your property, a share link is a perfect way to share revenue information with potential buyers who might be inquiring about rental numbers. Share links can be deleted at your discretion. Once you delete a share link, it's immediately disabled to anyone you may have sent it to.
What is "Self Use" under Revenue?
Let's say your property is a beach house. One of the great things about having a second home is not only making money by renting it, but also occassionally getting to use it yourself. When you do use it yourself, you're doing two things... 1) you're missing out on potential revenue, and 2) you're saving a certain amount of money by NOT having to pay someone else for someone else's beach house. Tracking Self Use is an important aspect of tracking revenue and expenses. It shows exactly how much you saved by using your vacation home, and how much revenue you potentially missed out on.
If/when you ever decide to sell your property, Self Use is a significant metric (along with Revenue) which your realtor will want to share with potential buyers.
DO NOT BE AFRAID to enter self use. Self use amounts are not included in revenue totals, so your actual revenue is not skewed by any self use. It's only visible in the pie charts but is not part of the bar charts which show revenue vs. expenses.
How much does this cost?
The cost is $5/month/property for short term rentals. So if you have 3 properties, it'll cost $15/month to use this service for all 3 of your properties.
Do you provide anything for long term rentals?
Not yet, but a long term rental option is in the works. Most of the features for long term rentals will be free... track revenue, expenses, etc. There will be some premium features as well for paid subscribers.
Is paying on this site safe?
Yes. We use stripe.com for our payment portal. Stripe.com is fully PCI compliant, and your credit card information is NEVER saved on our servers.
Any Other Questions?
Please do not hesitate to email us with any other questions you may have: firstname.lastname@example.org