Elicitation :Increasing Real Estate Management Profits: Harnessing Data Analytics (Excel to MySQL: Analytic Techniques for Business Specialization) Answers 2025

1. Hospitality costs (key service, cleaning, etc.)
❌ $200/stay
✔ $200/night
❌ $100/night
❌ $100/stay

Summary: Standard assumption for analysis is $200 per night per stay.

2. Utilities cost assumption
❌ The property owner is expected to cover utilities, so you do not have to take utilities into account
❌ $300/month for all properties
❌ $300/month for apartments, $400/month for houses
✔ $200/month for apartments, $300/month for houses

Summary: Utilities differ by property type: lower for apartments, higher for houses.

3. Upkeep cost assumption (replacements and repairs)
❌ $5,000/year
❌ $10,000/year
✔ $2,000/year
❌ $6,000/year

Summary: Average annual maintenance cost per property is $2,000.

4. Furnishing cost for Watershed property
❌ $35,000
✔ $30,000
❌ $25,000
❌ This information was not provided

Summary: Furnishing a property for short-term rental is assumed to cost $30,000.

5. Cost to cover late rental payments
❌ $100/month per property
❌ $200/month per property
✔ Assume all rental payments will be made on time
❌ $5,000/year total for all properties

Summary: Analysis assumes on-time payments; no late payment costs are included.

6. Budget for regulatory fees (hotel taxes, legal costs)
❌ No amount should be budgeted
❌ 20%
✔ 10%
❌ 15%

Summary: Regulatory fees are assumed to be 10% of the rental fee.

7. Typical length of stay
❌ 2 days
❌ 3 days
✔ 7 days (1 week)
❌ 1 day

Summary: Short-term rentals are assumed to have a 1-week average stay.

8. Budget for online short-term rental provider (Airbnb, etc.)
❌ 30%
❌ 10%
✔ 20%
❌ 25%

Summary: Platform fees are assumed to be 20% of the rental fee.

9. Seasonal price effect (summer vs winter)
❌ No seasonal effects
✔ 12%
❌ 2%
❌ 5%

Summary: Summer prices are assumed to be 12% higher than winter.

10. Depreciation period for capital expenditure
❌ 15 years
❌ 3 years
✔ 10 years
❌ 5 years

Here’s a compact table of all 10 questions with the correct answers for quick revision: