Owning a vacation rental can be a great way investment, and the less effort you have to spend, the more time you have to engage in other activities. In order to figure out what your hourly rate is on your Airbnb rental:
1) First, choose the date range you would like to look at. You may want to choose a start date based on when your rental has become "established."
2) Add up your revenue from your Airbnb payouts, which is the total rents collected minus any refunds and the Airbnb fee.
3) Then, calculate all the expenses for the same unit, for your chosen time period, and this will include your mortage, utilities and any replaceable supplies you need to purchase like soap, paper towels, etc. If you have everything on the same credit card this will be much easier.
4) Take time out for one week to really track how many hours you spend each day working on anything related to your property and try to be as precise as possible. If it has been much more or much less busy, you can compare it to past weeks and adjust as needed.
5) Multiply that weekly number by the number of weeks within your time frame, to give your total number of hours hosting.
6) Subtract the total expenses from the net rents and divide by total hours hosting.
average hourly rate = (net rents – total expenses ) / total hours hosting
This will give you an estimate for your hosting hourly rate!
What is your hourly rate? Share in the comments. :-)
EASY AIR RENTALS
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