Updated about 5 years ago on . Most recent reply
Short term rental cost to operate
We are looking to buy pur first rental in the few months. We plan to do short term rentals. When looking for the property how much of a margin to you need to be profitable (mortgage vs cash flow). What is your typical cost to operate?
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Your biggest cost is going to be your vacancy. It will depend on your area and the type of property but traditionally it won't be as popular in the winter or mid-week. You can look at Airdna for more accurate information but I would factor on 60% occupancy.
Besides that, cleaning is going to be your other biggest expense. Besides that, it will be utilities.
- Brad Hammond