STR Monthly Expenses/Occupancy Rate

[Erin Kreiger]

Hi everyone! BP newbie here! I'm in the beginning stages of buying my first STR. I'm still getting the financing part figured out, but while I'm working on that, I've been analyzing properties to help me figure out exactly what I'm looking for.

A few things I would love to get some feedback/info on from your personal STRs:

1. When estimating monthly expenses, this is what I currently have, is there anything else I should be including in monthly expenses?:

Mortgage

Taxes

Utilities

Lawn Care

Cleaning

Internet

Security Cameras

Insurance

2. I have been researching different markets, have used Air DNA, and have been looking at current STR availability calendars just to get an idea of occupancy rate but am interested in what your personal occupancy rates are (peak season vs. off season) & the location.

3. Cleaning fees: This might be a dumb question, but does the cleaning fee you charge per stay cover the entire cost of cleaning services between guests? My guess would be yes - but am curious about larger properties. If it doesn't cover the entire cost, how do you set your cleaning fee that is charged to guests?

4. Pet Friendly: Do you charge per stay, per dog, how are your pet fees structured? 

I would love hearing any feedback/info you're willing to share!

Thank you!