STR operating expenses

[Kyle Smith]

I have a spreadsheet I've developed for my STR and have been using 20-28% for a management company to manage the cleaning, booking, and maintenance. However, after doing some reading here I am leaning on doing the booking myself through VRBO and managing it myself. I'm building a 3br pool cabin, so I know there will be an added expense for the pool, but I'm curious if there is an average percentage number I could plug into my spreadsheet to represent the cleaning, maintenance, etc. if I manage it myself? Is it 5%, 10%, etc of my gross income for the year if I manage it myself? I would love to know about your experience. Thanks in advance.

[Justin Anderson]

You can definitely do a cabin yourself and it can be a good thing to experience who your guests actually are...  it's sobering and will make you realize all that fine finish out isn't as appreciated as you'd hoped.

cleans will run you 130x2 cleans a week x 52 weeks a year.  Id suggest 5% for maintenance and repairs.  You have a new cabin so it should be lower, but it's good to plan ahead for a new pool pump or hot tub pack or broken TV that needs replacing.

How you value your time is up to you.  With one cabin and good automation you may only have a few things to follow up on a week.  (Guest gets locked out, hot tub doesn't heat up, pool is green, etc)  Totally managable.

I would HIGHLY suggest a tool like wheelhouse or beyond pricing and to watch that HARD.  That's how you are going to make the real money.   Handling guests only makes you money indirectly through good reviews.