Expense Projections for Short Term Rental in Mountain or Lake Markets

[Paul Wolfson]

Hi All. I was wondering if anyone who owns a short term rental in either Broken Bow or Smokies or any other mountain or lake market -- can share their expenses. 

I'm analyzing opportunities but am realizing that without realistic expenses, I may not be getting realistic cash flow projections.

Below are some of my variables:

Type: House

Bedrooms: 3 or 4

Location: Broken Bow, Smokies, High Country, Western North Carolina.

My assumptions:

Supplies: 150/mo

Electricity: 150/mo

Gas/Propane: 0/mo (all appliances usually run on electricity in mountain markets)

Water/Sewer: 25/mo

Internet: 125/mo

Pest Control: 50/mo

HOA: 0mp

Property Taxes: 75/mo

Insurance: 100 home owners insurance + 100 short term rental insurance = 200/mo

Cleaning: 1,300/mo

PMI (10% down): 150/mo

[Mason Jeffries]

Great question @Paul Wolfson

Here is mine for a 3/3 smokies market

Water(well - monthly maintenance of water softener/ purification) 50

Electric - 250 average

Pest control - 50

Comcast 1 gig internet - 125

Cleaning - 150 per turn

landscaping - 50

Property Taxes - 50

Insurance - 145

Price labs - 20

Hospitable - 25

QuickBooks - 30

Touchstay - 100/yr

Updated photos 1000 twice per year

Supplies included with cleanings

Budget for misc. legal, property decor updates, minor damages, and other things throughout the year.