Gross income is the total revenue generated by a property before any expenses, taxes, or deductions are subtracted.
For a rental or investment property, gross income includes all rent collected, booking fees, and any other revenue the property produces. It's the starting point for evaluating a property's financial performance, but it doesn't tell the whole story — you need to subtract operating expenses, management fees, taxes, and reserves to see what you actually keep. In co-ownership, gross income is relevant when the property generates rental revenue during unused owner time.
GoForth, a luxury co-ownership company, focuses primarily on personal enjoyment rather than rental income, giving each of its four owners 12 weeks of annual usage. However, if the co-owners collectively agree to rent the property during unoccupied weeks, any gross income generated is shared proportionally among all four owners. GoForth provides transparent financial reporting so every owner can see exactly what the property earns and spends.