Formula to figure out the annual gross revenue for short-term rentals: 12:58 365 days multiplied by the occupancy rate and then multiply the result by the average nightly rate.
Within the cleaning fee, we consider the use of the washer, dryer, the consumables such as tissue, paper towels, coffee pods, bottled water, shampoo, soap, etc. Sooooo... the extra being charged on the cleaning fee is not gouging. Just covering true costs.
When you talk about property calendar to see occupancy, how do you know that the owner of the property hasn't just blocked it off for personal use of the property for two weeks or the months? Thanks. Great content.
@@windowsonthesea If you are taking those blocked off days into your average, then you are averaging for worst case scenario. I don't think it will hurt you in this instance.
When starting off with short term rentals, is it best to consult with a CPA prior to setting one up or just set it up and wait until tax time to seek out a CPA?
You're recommending people to start adding things to an Amazon shopping cart? There's a ton of ready-to-go spreadsheets online with ALL the furniture, accessories, decorations and other stuff you need to buy.
It can require a little work on your end and you’re supplying the some of the cleaning supplies sometimes. I wouldn’t call it 100% profit. Probably immoral if you’re double counting that though and still doing $30 spread.
Formula to figure out the annual gross revenue for short-term rentals:
12:58 365 days multiplied by the occupancy rate and then multiply the result by the average nightly rate.
Amazing value provided on this video. Thank you.
Within the cleaning fee, we consider the use of the washer, dryer, the consumables such as tissue, paper towels, coffee pods, bottled water, shampoo, soap, etc. Sooooo... the extra being charged on the cleaning fee is not gouging. Just covering true costs.
$30 spread per turnover? I highly doubt that is 'true cost' for consumables.
When you talk about property calendar to see occupancy, how do you know that the owner of the property hasn't just blocked it off for personal use of the property for two weeks or the months? Thanks. Great content.
I had the same question. How do you know its not just blocked off
You don’t. This is why it’s best to be conservative when estimating.
@@windowsonthesea If you are taking those blocked off days into your average, then you are averaging for worst case scenario. I don't think it will hurt you in this instance.
Short term rentals are a great way to force cash flow. More work but more rents.
When starting off with short term rentals, is it best to consult with a CPA prior to setting one up or just set it up and wait until tax time to seek out a CPA?
definitely before
Where does someone look if they want to buy an airbnb turn-key?
You're recommending people to start adding things to an Amazon shopping cart? There's a ton of ready-to-go spreadsheets online with ALL the furniture, accessories, decorations and other stuff you need to buy.
These videos never tell us anything useful...
The difference in cleaning fee seems immoral to me.
It can require a little work on your end and you’re supplying the some of the cleaning supplies sometimes. I wouldn’t call it 100% profit. Probably immoral if you’re double counting that though and still doing $30 spread.
Immoral? It’s business. If people are willing to pay it, then charge it.