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Updated over 4 years ago,
What's your net operating expense ratio?
What is your net operating expense ratio? and how much of the operating cost is paid out to cleaner? So I have this number for example.
Revenue $90,000 ($75,000 from nightly fees, $15,000 from cleaning fees)
Operating cost: $40,000 (Including insurance, tax, utilities, supplies). Cleaner expense is $12,000.
So operating cost is around 44% of revenue. And, 30% of operating cost is cleaners fees, which I believe is the biggest expenses for most STR owners.
I'm curious what number you've got and knowing this would be useful for people who are just starting out.