- sjnotebook on Dropbox: “Paperwork. Oh, no! Do it on the go. Fabulous new renovation = contracts. Sending kids to camp means waivers. Exciting new sport = medical insurance claims. Nothing stalls progress quite as efficiently as a mountain of paperwork. Make your life easier! Dropbox Sign goes where you go, so you don’t have to drop everything when that document for signature lands in your inbox.” Apr 26, 04:04
- on Zapier: “How to generate blog images with DALL·E and Zapier Creating images for blog posts can be fun (and hilarious, depending on which stock photo site you’re on), but it’s also kind of a hassle. AI image generators like DALL·E help create unique images, but they still require bouncing back and forth between apps. By connecting DALL·E and your article database to Zapier, you can automatically generate blog images wherever you’re already spending your time. Here’s how it works.” Apr 24, 05:41
- on Daylite: “It shouldn’t be a surprise that the new macOS Ventura features allow you to do more than one thing at once and give you better organizational tools across the board. This will help you get more done and work better with your team.After all, it’s no secret that Apple’s systems offer a wide range of perks for entrepreneurs, such as superior design, an intuitive interface, and increased security, so you can simply get more done. Here are 8 new features in Ventura that small business owners will love, whether you’re thinking about updating your macOS or are already using it. A MacBook at the center shows the new email feature on Mac Ventura. The background is the blue and orange macOS Ventura wallpaper. The title says “8 Keys to MacOS Ventura for Small Business Productivity”. Emails Passkeys Freeform Safari Continuity Camera Stage Manager FaceTime Messages Emails Apple has made various changes to Apple Mail to make it more intelligent in Ventura. Among the main changes are: Unsend emails: macOS Ventura allows you to unsend an email up to 10 seconds after it was sent. This highly anticipated function is perfect for when you spot an error or typo right after hitting send on an email to a potential client. Schedule emails: You can now schedule emails to go out at a custom date and time. This will come in extra handy if you need to work outside of business hours, for example. Instead of bugging potential clients and team members with emails late at night or early in the morning, you can simply schedule the email to go out at a reasonable time. Missing attachment: Mail is now able to detect when items like attachments or cc’d recipients are missing and notify you before sending the message, so you’ll never forget to attach a proposal or contract or cc everyone involved in the business transaction again. Remind Me: If you, as a busy small business owner who is always on the go, receive emails you can’t deal with immediately, the Remind Me option is perfect for you. You can set a reminder to reply later, so the email doesn’t get lost in your inbox and you don’t miss out on important information about your business. Rich links: Like messages, Mail now supports rich links to give more context to web links and other information included in email messages. That means you can get a preview of the link right from the message instead of clicking on it and going to a different page to see what it is about. That saves you time and keeps you in the zone. You can schedule emails to go out at a custom date and time in macOS Ventura. Picture of a MacBook with the Apple Mail application open, showing how to unsend or schedule emails on Mac OS X Source: Apple Pro tip: Daylite integrates seamlessly with Apple Mail. You can capture all emails, schedule meetings, and link all items related to your clients in Daylite. If the person is a prospect, you can save that first email, create an opportunity, and have a full chronological history of conversations, all in Daylite. Passkeys macOS Ventura has a new security feature called Passkeys. Instead of using a password to sign in to a website or app, you can now use a Passkey instead.Faster, easier to use, and much more secure, passkeys offer protection against phishing, malware, and other common cyber attacks that aim to gain access to your accounts. Passkeys are the next generation of passwords. Picture of a MacBook On the screen, there is a sign-in window asking for the Touch ID to add a passkey to the macOS Ventura feature. Source: Apple Passkeys use keys that are encrypted from beginning to end. A public key is kept on the server of the website or app, and a private key is kept on your device.Because they rely on iCloud Keychain, passkeys easily sync across all your Apple devices. This is great news for your business, as it adds an extra layer of security for you and your team, especially if you deal with multiple cloud-based applications. Pro tip: Daylite supports passkeys alongside your traditional passwords. Learn more about how passkeys work in Daylite and how to enable them. Freeform The Freeform app is a digital whiteboard that lets you collaborate and come up with ideas in any way you want.Perfect for creative teams, the Freeform app boosts collaboration in real-time. You can view your team members’ contributions as they add content or make changes to the board, all while discussing projects and ideas on a FaceTime call. An iPhone, iPad, and MacBook side by side showing the FreeForm app, which is one of the new Mac Ventura features. Source: Apple The Freeform app supports images, videos, audio, PDFs, documents, and weblinks, creating an interactive and dynamic canvas where ideas can come to life. Available on macOS Ventura as well as on iOS and iPadOS, the Freeform app is the perfect whiteboard solution for an elevated creatively collaborative experience. Safari macOS Ventura brings an exciting new enhancement to the Apple fan favorite browser: Shared tab groups You can now share a set of tabs with a group of people, and everyone can see and update them. Each tab group also has a customizable start page, including a personalized background image and favorites. That means you can share your tab groups for certain projects with your team members and also customize them for each project you’re working on. Think of all the ways this new feature in Ventura can boost your team’s collaboration. You can color-code the tab groups according to projects or teams and customize the start page with your client’s visual features for extra personalization. Continuity Camera Even though the Continuity Camera has been around since earlier versions of macOS, it has been expanded in Ventura to work with the iPhone 11 or later as a backup webcam.By simply placing the iPhone in a stand or mounting it to the Mac, Ventura senses the device and connects it as a wireless camera, so you can use the iPhone as a support camera on FaceTime or any other apps. Ventura senses the presence of the iPhone and integrates it as a support camera. A MacBook with an iPhone attached is being used as a continuity camera, which is one of the new Mac Ventura features. Source: Apple Using the iPhone as a webcam is especially handy when doing presentations or collaborating with your teams, as it gives you more flexibility to innovate and enchant potential leads, clients, and team members. Here are other enhancements and updates to the continuity camera in Ventura: Center Stage: Center Stage keeps you in the center of the frame even if you move around during a call using the Ultra Wide camera on the iPhone. Portrait Mode: The Apple fan favorite, Portrait Mode, is also available when using the Continuity Camera. Portrait Mode blurs your background and focuses on you, giving you extra privacy when working from home or away from the office. Desk View: Desk View shows what’s on your desk during a video call. It uses the Ultra Wide camera mode on the iPhone and is designed to mimic an overhead camera so that you can share a view of your desk and your face at the same time. Extra handy when doing demos or showcasing projects for clients. Studio Light: Studio Light uses the iPhone’s flash to dim the background light and illuminate your face. Ideal for difficult lighting situations, such as backlit scenes in front of a window. Microphone support: The Continuity Camera in Ventura also allows you to use your iPhone’s microphone as the main audio input, even with no video. Stage Manager Among Apple Ventura features is Stage Manager, a new multitasking feature that works alongside Spaces and Mission Controls to give you a new way of focusing on a task while leaving other apps at the bay. Stage Manager puts the app you’re working on at the front and center of your desktop, while the other apps and windows are grouped together and collapsed at the side of the screen for quick access whenever you need them. With Stage Manager on macOS Ventura, the app in use is in the center of the screen, with other windows grouped and collapsed on the left. An Apple computer showing how Stage Manager works on the new Mac Ventura Source: Apple This new enhanced view is especially useful for small business owners who often need to wear multiple hats at the same time. You can group together all the apps that you use for specific tasks, such as Photos and Photoshop, for example. When you need to quickly swap from one project to the other, you have all the apps you need grouped together at the click of a button. FaceTime FaceTime has been improved in macOS Ventura in a couple of ways that will make it easier to work on multiple Apple devices at the same time.Check it out: Handoff Handoff is a new feature that makes it easy to move a FaceTime call from an iPhone to a Mac and back again. This means that you can take a FaceTime call on your iPhone and easily move it to your Mac. And there’s more! macOS Ventura also comes with an enhanced collaboration feature for FaceTime when you’re working in apps like Files, Numbers, Pages, Keynote, Notes, or Safari. From any of these apps, you can simply start a FaceTime call with a team member to video chat about the project or task. Handoff seamlessly transfers FaceTime calls from the iPhone to the Mac. A MacBook and an iPhone side by side, showing how a FaceTime call can be transferred between devices, which is one of the new Mac Ventura features. Source: Apple Messages On macOS Ventura, the Message app has new features that let you change or even delete a message up to 15 minutes after it was sent.All you have to do is right-click the message bubble and select the desired option on the pop-up. If you unsend a message, it will be deleted, but the person you messaged will still be able to see a note saying the message was deleted. Only messages with the “blue bubble” can be edited or unsent, and all parties must have iOS 16 or Ventura installed. You can now mark messages as unread and even get back deleted messages for up to 30 days. This is a great addition to Messages because it means you won’t miss out on important information because you accidentally deleted a message from a client or team member, for example. In addition, Messages now integrates with SharePlay, so you can collaborate with team members or chat with clients while watching video presentations and demos or when using apps. Messages in macOS Ventura support SharePlay. The top right corner of a MacBook screen shows the Messages app, which is one of the new Mac OS X features. Source: Apple Wrapping Up We’re confident that these eight Mac Ventura features will enhance organization, boost collaboration for your small business, and intensify your experience across your Apple devices. If you’d like to learn more about these and other enhancements, check out this page from Apple and follow the steps to upgrade your Mac to Ventura. Remember that staying up-to-date with the latest macOS gives you Apple’s newest features and important security updates. If you’re already using macOS Ventura, we’re very curious to hear from you. Tell us in the comments which of the Apple Ventura features helps you the most in running your small business.” Apr 6, 10:50
- on Zapier: “How to automate OpenAI OpenAI is the brains behind both ChatGPT and DALLE 2, two of the apps that helped lead an entire planet into a collective panic. But amid the hubbub, folks are already figuring out how to use these powerful tools in their work. Here are some ideas for how to integrate AI into your existing workflows, connecting it to all the other apps in your tech stack. No panic is required.” Apr 3, 04:08
- on Parallels: “WHAT’S NEW INParallels® Desktop 18Packed with over 20 powerful must-have features (optimized for macOS Ventura, Intel, and Apple M-series chips), it has everything you need to boost performance. Easy to Set Up—Download, install, and configure Windows 11 in one click.Optimized for the latest Apple hardware: improved compatibility with Apple’s ProMotion technology delivers optimized synchronization between Mac and Windows.Enhanced Gaming Experience: Automatically use your Xbox or DualShock Bluetooth controller for the ultimate gaming experience.” Apr 2, 08:41
- on IGMS: “iGMS is now an Airbnb Preferred Software Partner! Streamline your vacation rental business with our powerful automation and enjoy a smooth hosting experience.” Mar 30, 08:31
- on Quotes – Inspiration: “Failure is caused by: Expect fast resultsFear the futureFeel the world owes them somethingOverworkStop believing in themselvesResist changeFear failure more than desire successAssume their problems are uniqueGet stuck in the pastGive up their powerNever visualize what is possibleSee failure as the signal to turn backDwell on mistakesBelieve in their weaknessesFeel they have something to loseFeel sorry for themselves” Oct 23, 05:28
- on Workona: “Enterprise-level security for everyoneAt Workona, security is a top priority — not just for enterprise customers, but for all users. Workona’s security practices keep your account protected & apply to everyone:SOC 2 Type II compliant – Audited by Prescient Assurance with report available upon request3rd party penetration testing – Performed annually, most recently by Include Security on September 3, 2022Encrypted data – All of your cloud data in Workona is encrypted in transit and at rest, keeping your data safe from prying eyesWant to get Workona approved for employee use at your company?Good news! Most security teams approve Workona when an employee initiates a security review. Contact our team for help, or simply submit the request to your security team with security@workona.com as the point of contact.” Oct 22, 07:45
- on Quotes – Inspiration: “5 things to quit right now:1. Trying to please everyone.2. Fearing change.3. Living in the past.4. Putting yourself down.5. Overthinking. Rachel Miitclell @LADY_LONGEVITY” Oct 17, 10:36
- on Quotes – Inspiration: “It shouldn’t take a pandemic to convince people to put their mental health above their careers. In the long run, the choice between success and well-being is a false dichotomy. The best way to achieve your goals is to lead a life that invigorates you -not one that drains you. – Adam Grant” Oct 16, 08:40
- on Quotes – Inspiration: “3 Pieces Of Advice: Don’t talk, act. Don’t say, show. Don’t promise, prove.” Oct 16, 07:46
- on Quotes – Inspiration: “13 Inspiring Traits of Exceptional Leaders 1. They trust you to do the job you’ve been hired to do. 2. They seek your advice and input. 3. They find opportunities to let you shine. 4. They recognize your contributions. 5. They have your back during tough times. 6. They are master storytellers. 7. They challenge you to do bigger and better things. 8. They express appreciation. 9. They are responsive. 10. They know when to apologize. 11. They give credit where credit is due. 12. They treat others with dignity and respect. 13. They care. – Glenn Leibowitz” Oct 10, 08:08
- on Daylite: “Daylite Is on the Mac App Store!We’re proud to share that Daylite has been highlighted in the Mac App Store in three exciting categories: Top Great New Productivity Apps and UpdatesTop Free Business AppsTop Great New Apps and Updates” Oct 7, 09:15
- on IGMS: “Do you know how to calculate the cap rate before investing in a vacation rental property? Or why should you? Explore the usefulness of the metric and how to calculate it for yourself to make sound investment decisions.Vacation rental property investors need to know several different metrics to use when deciding to invest in a property, including how to calculate the cap rate.While investing in property for short-term rentals can be highly profitable, it is always a good idea to do your research before investing your hard-earned money. A cap rate can provide key insights into how profitable or highly profitable a company is.Read on to explore what a cap rate is, how to calculate it, and what it can be used for.What Is The Cap Rate?A cap rate, more formally known as a capitalization rate, is used to indicate the potential rate of return you can expect from a real estate investment property. It is calculated based on the net operating income the property is expected to generate.A cap rate comes in handy when you need to make a quick comparison of the property relative to similar real estate investments in the market. However, it is not the only factor to consider when determining if a property is a good investment or not.A capitalization rate is one of the most popular ways to measure the potential profitability and return on an investment property.What Is the Cap Rate Formula?Current Market Value of Net Operating IncomeThe cap rate is expressed as a percentage after dividing the property’s net operating income by the current market value.What Does My Cap Rate Mean? [Interpreting & Understanding Your Capitulation Rate]The main purpose of a cap rate is to compare different property investment opportunities. It indicates how much of a return an investment property could generate over a year if purchased with cash rather than debt.A capitalization rate is also an indicator of the amount of time it will take for an investor to recover their investment in a property. For example, if a property’s cap rate is 10% (per year), it will take 10 years to recover the full investment (100%).As mentioned before, while a cap rate is useful for comparing the risks of property investment, it is not the only metric to take into account. Calculating other metrics like return on investment, researching the local property market thoroughly, and building a sound business plan should all form part of your investment strategy.What Is A Good Cap Rate For Investment Property?There is no set good cap rate for property investment. It all depends on how much risk you are willing to take on as an investor.The higher the cap rate, the higher the level of risk. And, as you would guess, the lower the cap rate, the lower the risk, but also the potential returns.However, generally speaking, a good range for your cap rate is between 4–11%. Generally, investors usually prefer the higher half of this range.How To Calculate Cap Rate (Capitalization Rate Calculation Examples)While it is not difficult to find a cap rate calculator online, the main work is in calculating the figures required by the calculator. Let’s take a closer look at the elements of the cap rate formula and how to use them to calculate your capitalization rates.1. Calculate your property’s net operating income.You can calculate net operating income (NOI) by totaling up your gross rental income and deducting all operating expenses.Your operating expenses will be the costs you need to incur to run your business, like:Admin costsAdvertising expensesTravel expensesmonthly rent (if you use an office space).Internet and software subscriptionsEmployee wages or contract worker fees (for example, cleaning staff)Accounting and legal feesrepairs and maintenance.Bank chargesBusiness and property taxesInsuranceUtilities. Naturally, the higher the net operating income, the better your profitability will be. Therefore, it’s important to maximize your rental income while keeping costs low. The best way to achieve this is by using vacation rental automation software.With vacation rental software like IGMS, you can automate and streamline the daily hosting tasks that take up the most time, allowing you to focus on tasks that will grow your business and boost your income.iGMS can supercharge your vacation rental management by:Automating triggered messaging and organizing your chats into a single feed via a unified inbox to ensure prompt repliesManage multiple accounts and listings across the top booking platforms from a single interface.Synchronizing reservations across multiple platforms to eliminate the risk of getting a double-bookingHelping you build a stunning, professional website for direct bookings with the website builderAutomating guest review send-outsShare daily cleaning schedules with your cleaners and auto-assign cleaning tasks.Creating vital reports on your performance and results in minutes, as well as analyzing your business’s performance and growth on an interactive dashboard, iGMS is available for a free trial. 2. Determine the current value of your property (or the purchase price if it is new). 3.The next step is to find out the current property asset value for your rental home. You could do this by getting your property professionally evaluated to get the most accurate value. You could also use useful tools like an ARV calculator to help you find your property value.However, taking your purchase price and any renovations into account, combined with comparing your property to similar ones in the area, will also give you a semi-reliable figure to work with.If the property is new or for sale, the purchase price will be reliable enough to use. However, if you purchased your property a few years ago, it probably won’t be the best idea to use it.3. Use these figures in the cap rate formula Once you have both your net operating income and the current property value, you have all you need to plug the numbers into the formula:Current Market Value (OR Purchase Price) Net Operating IncomeCap rate calculation example Let’s say you are considering buying one of two investment properties for your vacation rental business. You would like to have a better idea of the future profitability of each property to make a more informed decision. Let’s compare their cap rates:Property A:Current market value: $500,000.Expected net operating income: $40,000.x 100% = 8%Property B:Current market value: $600,000.Net operating income is expected to be $44,000.The cap rate is 44000/600000 times 100%. = 7.3%Generally, property investors may think that buying a more expensive property will lead to higher profitability. However, when comparing the cap rates, Property A looks to be more profitable.Capitalization Rate FAQ1. How important is the capitalization rate?A cap rate is most important to property investors. They, unlike residential homebuyers, will care the most about the potential rental income, net operating income, and returns they can receive from buying a property.2. When should you use a cap rate and when should you not?The main reason real estate investors use a cap rate is to weigh the pros and cons of buying multiple commercial properties. However, it can also be useful to consider when buying real estate intended for vacation rentals if you are confident you will be able to make a steady cash flow.The worst time to consider capitalization rates is when the income stream won’t be steady or easily predictable, like if you are intending to flip a house or only rent it out for a short period. It is also not useful if you are purchasing a family home without expected cash flow.3. What are the limitations of a capitalization rate?Although calculating your cap rate is a sound indicator of the profitability you could expect from a proper investment, it does have some limitations. The biggest one is that it will be less reliable if you can’t expect a regular, predictable cash flow from the property in question. Because of this, you should only use a cap rate when you can expect a relatively stable income over the long term.4. Which factors impact the cap rate?As we have already mentioned, a cap rate should not be the only measure you use when determining whether or not a property is a good investment. Apart from having limitations, multiple factors could affect the cap rate. Some of these factors are:LocationWhether you are investing in commercial real estate or vacation rental residential properties, location will play a huge factor in your potential returns. A location can dictate the demand for the property, the market value growth rate, and the foot traffic moving around the property.The status of the local marketWhen considering your cap rate, you’ll need to think about the local market for your investment property. Specifically, you’ll need to think about the competition the local market brings. If you are investing in a vacation rental property, how many other properties in your local area offer the same type of short-term rental accommodation? Will this impact your occupancy?If you are not able to fill up your booking calendar because of too much competition in the area, even if you expected a higher net operating income beforehand, it will bring your income and capitalization rates down.Future trendsWhat is trending in the real estate market now may not be in a few years. Something as sudden as a pandemic could shift what travelers look for in a vacation rental from bustling and lively places to spacious and tranquil ones instead. This is why it is also not a good idea to have too high a cap rate and take on too much risk unless you can adapt easily to future trends and unexpected changes.Available CapitalThe general rule of real estate property—whether it be residential or commercial property—is that the more capital you can invest in your property through upgrades and renovations, the better your potential return on investment. Having capital available to be able to do so will, therefore, also impact your cap rate.Growth potentialIf your real estate market is experiencing growth, this will most likely rub off on your property and cap rate. This is why it is always good to invest in a growing market.5. Is a cap rate and an ROI the same thing?Not exactly, but they are quite similar. A return on investment (ROI) looks at the potential return your investment can bring you over a specific period. A capitalization rate provides an expected return for the investment property at the current point in time, given the current market value and net operating income.Is a higher or lower capitalization rate better?It’s not clear-cut whether a higher or lower capitalization rate is better for everyone. It all depends on how you would like to balance risk and return. If you are willing to take a higher risk to earn higher returns, a higher cap rate would be more suitable for you.Similarly, if you prefer to take less risk and don’t mind waiting longer to realize your returns, a lower cap rate is better for you.7. Does the capitalization rate include my mortgage?The capitalization rate excludes debt you have used, like a mortgage. This is so that it can purely look at the potential return on your investment.Final ThoughtsA cap rate uses net operating income and property value to determine the potential profitability of buying vacation rentals or commercial real estate. While it is not foolproof, it can be useful when making investment decisions.By ensuring you can maintain a steady cash flow of rental income and streamlining your operations with vacation rental software to save time and money, you will be capable of making rewarding property investments.About the Author: Callan Riddles is the Content and Social Media Specialist at IGMS. Callan has a passion for finding new ways to help vacation rental businesses thrive. In her free time, she loves to travel, read, and experience all the new things that life has to offer.” Oct 1, 15:12
- on IGMS: “We are excited to introduce the IGMS Security Deposit. It’s a new feature that helps you collect a dedicated amount for each direct booking to cover potential damage costs. You can set up all of your direct booking listings in the IGMS interface and use Stripe to collect the deposit. Know that your rentals are protected. You can be sure that all direct bookings coming from your website or through social media are real and profitable for your business. You have full control over your deposit claim process. Unlike other OTAs, IGMS allows you to claim the security deposit right away, and the guest will receive an instant notification about it. Allow flexibility in the security deposit amount. Depending on what works best for you, you can charge a flat amount, a percentage of the booking, or both. Have a fully automated release process. You can set a specific day after the checkout when the deposit will be released, which is hassle-free for you and your guests.” Aug 23, 06:01
- on Quotes – Inspiration: “Someone graduated at the age of 22 but waited 5 years before securing a good job.Someone became a CEO at 25 and died at 50.While another became a CEO at 50 and lived to 90 years.Someone is still single, while someone from his school group has become a grandfather.Obama retired at 55 & Trump started at 70.Everyone in this world works based on their time zone.People around you might seem ahead of you & some might seem to be behind you.But everyone is running their own race, in their own time.Do not envy them.They are in their time zone, and you are in yours.So, relax.You’re not late.You’re not early.You are very much on time” Jul 21, 05:02
- on Zapier: “New logo, same Zapier “We recently released our brand new logo, inspired by folks like you! Our logo strives to capture the magic that our customers build every day on the Zapier platform.”” Jul 14, 13:43
- on Zoho Projects: “Add Web-hook to Blueprint transition”With this update, you can include notification triggers to third-party apps as a part of your automated workflows.”” Jul 14, 08:26
- on Zoho Projects: “Synchronize work status in Sprints and Projects”If you have integrated Zoho Sprints with Projects, here is a time-saving hint for you: Map the task and issue status in Projects with Sprint’s item status.”” Jul 14, 08:25
- on Zoho Projects: ““We have made a few ready-to-use, pre-defined functions that will come in handy when you want to create work items or perform actions like sending a status update or messages automatically.”” Jul 14, 08:23