Q: I have a client that manages vacation rentals. They also rent out one of their own homes as a vacation rental. Is it okay to keep all the rentals on the same books as long as I separate out the personal rental income?
A: Yes and No. When a property is used as a vacation rental, it is considered to be a business. Always keep personal and business books separate. As your clients rent their own home and live in it as well, you may try using Class for personal and business. Try it out.