Vacation Rentals expenses

[Jim Workman]

I am investigating a vacation rental in Orlando. Does anyone have a recently built vacation home in a resort community? I would really appreciate getting ACTUAL expenses for 2013.

Jim Workman

[Jeremy Baker]

@Jim Workman and @Justin R. , here's our #'s from last yr:

Housekeeping = $85 per cleaning = $2,475 (we only charge the cleaning fee to guests that stay less than 7 days.

Maintenance/ Repairs = $1,799 (small items like un-clogging the bathroom sink and fixing the drapes on the lanai sliding door.) We didn't have any mechanical fixes, although we did get a new water heater this year which cost just over $700.

Property Management = $1,684. Our PM is onsite and charges $5/ day for each reservation.

Credit Card Fees = $883 - the fees charged by credit card processor. Many of our guests are from Canada, so we get dinged extra for the foreign transactions.

HOA = $477/ month = $1988/yr (Cable TV and Internet included)

Utilities = $5,724 (Electric, Water and Sewer)

Supplies = $580 (New Towels, new beach chairs, extra bedding, other small items)

Taxes = $2,060 (Maui actually has lower property taxes than you would think)

Insurance = $301/ yr (HOA covers insurance, we added liability and umbrella)

Hope these numbers give you an idea of what to expect. Please feel free to ask any questions about vacation rentals and I'll be happy to answer the best I can. This is the 3rd year we've owned and rented our condo, so we may not be experts but I can give you any advice relative to the experience we have.