Possible Short Term Rental Calculator?

Question

The BP calculators are a pretty powerful tool for investors. That being said, has Account Closed - is this already in the works?

I would love to hear from other BP members on this idea.

- Justin

Justin Tahilramani · Answer

Looks like @BiggerPockets .com ended up rolling this out.....

John D. · Answer

@Justin Tahilramani I typically ignore nightly/weekly/monthly rates, discounts, etc. and simply estimate a properties gross annual income after booking fees, using comparable properties and their gross per year.  And then make sure to include all relevant expenses.

Justin Tahilramani · Answer

I understand where you are coming from, but I don't agree that the current rental calculator incorporates all of the functionality that you need to run an in-depth short term rental analysis. I tried using the rental calculator to evaluate an STR deal, which is part of the reason that I feel a dedicated calculator would be beneficial.

I'm sure that there are features/functionalities that other BP members can contribute that would make the calculator even more beneficial.

Appreciate your input.

Patrick Liska · Answer

Justin,

Trying to understand, so you want a calculated that will tell you if the rent you are charging for short term rental is enough to make money ? because the way i was looking at it is that it doesn't matter if its short term , monthly or yearly, you are basically figuring out if the property will be profitable. so if you take your short term numbers and put it in as a yearly number, that will give you the answer. am I missing something on that ?

Patrick Liska · Answer

Justin,

I can't see why you couldn't use the rental calculator here at BP. all the expense areas expand, and you can put in what you want. as far as the nightly, weekly and monthly rentals, it would all have to be figured into a yearly gross income no matter how you rent it, the purpose is to figure out if the property is a good cash flow. every thing you mention is in there calculator.