STR in the Smokys - Expenses
Hi again, Trying to pick up some of my research in the STR market in the Smoky Mountain area. I am putting together a spreadsheet with some costs to help understand a the end game a little more - i.e. cash at the end of the year. Was hoping some of you all who have cabins can weigh in a little with some real life costs ....
Avg Nightly rent for a 2 Bed - estimating from VRBO / AirBnB ~ $140 over the course of the year. Does this sound like a good average or am I shooting Low/High?
Vacancy - I am guessing about 15%? for this area? Again whats been your experience. Is this high or low?
I am estimating the following for expenses. Some I have guessed, Some @Avery Carl (Thank you) has guided me on & Some I really don't know what they are in that area:
Garbarge - $50/Month
Water/Sewer - ?
Cable/web/Phone - $150/month
Cleaning - $500/ Month.
Electricity - $150/Month
HOA - Variable
Security - ?
Pest Control - ?
Gas - $50/Month
Insurance - $75/Month
Landscaping/External Maintenance - $75/Month
Capex - Going to use 5% of Gross receipts
Rental costs associated with VRBO/AirBNB and general Marketing costs - ?
Would welcome some feedback on these numbers any any that I am missing. I would be glad to share my spreadsheet once I have it put together
Thanks - Vincent