Handy Vacation Home Calculator that lets you enter a vast array of values to calculate your profit and Return on Investment in an Excel Spreadsheet.
Enter the cost of the home, your down payment, the mortgage terms and calculate your monthly mortgage payment. Enter your regular home payments such as taxes, insurance, lawn care etc. to see the cost without any occupancy.
Enter the vacation rental costs that depend on how busy your home is, such as water, cleaning fees etc. to add up your operating costs.
Next enter your monthly occupancy percentage, your monthly average rate and calculate the rental income. Now enter the management percentage if you plan on using a management company to calculate your realized rental proceeds
Take all these number together and get your profit and return on investment.
The calculator also has several spaces that you can customize to enter additional expenses and additional income.
This Vacation Rental Calculator will help you enter the values for each home you are considering. The header even has some fields that let you add an address and description of the home, so you can run scenarios for different homes and safe/print them for later comparison.
Have fun playing with the numbers as it will show you how little fluctuations can a big difference in the outcome.
Keep in mind that you should always have some money tucked away for repairs. We did add a category where you can specify to set some money aside every month as a reserve fund to build up a little savings as items get older and start to break or wear out.