While Stessa is purpose-built for owners of rental properties with long-term tenants, it can also work nicely for short-term and vacation rentals. We don't have direct integrations with Airbnb or HomeAway/VRBO, but it's easy enough to import your data into Stessa nonetheless.
Here's how to set up Stessa for a short-term rental (STR), in 4 easy steps...
- Calculate what you expect your monthly average rental income to be over the course of the upcoming year. At its most basic, this calculation is:
((# nights available) x (expected occupancy %) x (average nightly rate)) divided by 12 = avg rental income/mo.
Click the word "Vacant" on your Rent Roll and input this figure. You'll do this on your Property Overview page.
- Enter your expected monthly operating expenses under the "Pro Forma" column on the "Monthly Expenses" card. This will be your baseline against which to compare actual expenses. You'll do this on your Property Overview page.
- Connect the bank accounts into which Airbnb, HomeAway/VRBO, etc. deposit rental income and from which you pay your expenses. If you have a credit card account for your short-term rental, you can connect it as well. This will enable you to automatically capture transactions data, which Stessa will then auto-categorize for you. You'll do this from your Data Sources page.
- If you'd rather not connect a bank account to track income, you can instead visit Airbnb and your other rental platforms to download your transaction history.
For Airbnb, you'll find this option under "Host > Transaction History." Set the date filter to Jan 1, 2018 - Dec 31, 2018. Then click, "Download CSV," which is located just above the top of the dollar amount column. Depending on how much detail you want to track in Stessa, you may want to delete all the "Payout" rows or all of the non-Payout rows to avoid duplicate entries.
You'll then need to clean up your CSV file for a successful import into Stessa.
Key Categories for STR Owners
Vacation rental owners will want to pay special attention to the following Stessa transaction categories, which you're likely to use frequently:
Linens, towels, cleaning services: "Repairs & Maintenance > Cleaning"
New furniture, TVs, etc.: "Capital Expenses > New Furniture"
Minor and major renovations: "Capital Expenses > Remodeling"
Platform listing and booking fees: "Management Fees > Leasing Commissions"
Still Having Trouble Getting Your STR Set Up?
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