Typical Monthly STR expenses

[Gulliver R.]

Hi All,

I'm doing some STR research prior to buying a property to use for vacation rental and I wanted to hear from you all what are the typical STR monthly expenses? I can think of mortgage, taxes, insurance, STR insurance, water/sewer, electricity, trash, internet/cable, cleaning (can pass through), supplies, and software.

-Is there anything else I'm missing?

-Also, how much is STR insurance typically per month (I know they vary)?

Thank you,

Gulliver

[Joe Splitrock]

@Gulliver R. you may be including in supplies, but this category can include coffee, other beverages, condiments, paper towels, toilet paper, garbage bags, etc. Depending on location you may also need regular pest control and pool services. 

Insurance is impossible to estimate without knowing location or type of property. 

Also be aware as @John Underwood mentioned, you need to budget for repairs and capital expenditures. Not only will appliances and mechanicals need updating, but linens, furniture and decorations also need updates over time. The higher end your property, the more attention to details you need to worry about. 

None of this stuff by itself is a ton of money, but add it all up and it cuts into profits. There is a reason STR command higher prices. There is more expenses and more time required than a long term rental.