One of the most important concrete steps to take toward starting your hosting business is to open a separate bank account. It is imperative to keep a separate bank account for your rental business. A separate account can help you keep track of expenses and revenue, making it easier to record tax-deductible expenses and maximizing your profits.
Fund your account with what you are budgeting for your initial expenses and try to make all expenditures for your rental through this account.
Start running your business professionally from the outset and set yourself up for success.