As an Airbnb host, you know that your expenses are numerous and hard to track.
Sure, the larger, fixed costs—such as utilities, cleaning services, and salaries—may be straightforward. But what about the occasional light bulb you need to replace, or the last-minute run to restock the soap? All in all, Airbnb expenses can easily create an accounting nightmare.
You don’t have time to track down every little purchase or charge, so an Airbnb expense spreadsheet is absolutely necessary to keep everything in order. Use this spreadsheet to easily track your Airbnb income and expenses, so you can focus on other aspects of hosting.
Ready to dive in? Learn why you need an Airbnb income and expenses spreadsheet and what it covers, and then download our free template to get started!
Don’t see the form to download the Airbnb expense tracker spreadsheet? Click here.
Why you need an Airbnb expense spreadsheet
An Airbnb income and expenses spreadsheet is designed to streamline your financial management as much as possible. But its benefits go even further, making it a valuable addition to your toolkit.
Save time and reduce stress
Eliminate the hassle of manually calculating your finances each month by using an Airbnb budget template set up with your business needs in mind. Instead of starting from scratch every billing cycle, simply input your monthly expenses and earnings.
Moreover, when tax season arrives, having all your numbers organized in one convenient spreadsheet for Airbnb expenses will save you time and reduce stress.
For even more help, consider using Lodgify’s accounting tools. These tools can calculate your business’s earnings and expenses, summarize total revenue from all listings, and allow you to filter by booking periods. You can also track incoming and outgoing payments, reducing administrative work and providing a comprehensive financial analysis.
Improve operations for staff
As an Airbnb host, you know the numerous steps involved in preparing for guests, maintenance during stays, and turnover. Costs are often involved in each of these steps, and payments must be on time to avoid hiccups. Delays or inconsistencies can frustrate staff, leading to subpar service, which your guests don’t deserve.
Using an Airbnb expense spreadsheet helps avoid late payments, something your staff will certainly appreciate.
What’s more, anyone on your team who is authorized to make business purchases can efficiently update your Airbnb expense spreadsheet, minimizing back and forth.
Keep track of all your expenses
As we mentioned above, numerous expenses are involved in managing an Airbnb. Restocking amenities, replacing or repairing broken fixtures, outsourcing for deep cleaning…the list could go on infinitely.
Keeping track of all of these charges is essential to avoid budget discrepancies, and an Airbnb expenses spreadsheet is a great tool to do just that.
Bonus tip: Use our Airbnb Income Calculator to estimate potential earnings from your Airbnb.
Understand your Airbnb’s performance
You might sense how well your Airbnb is doing, but without data, it’s just a guess. An Airbnb expense tracker spreadsheet removes uncertainty by showing where you’re incurring the most expenses, helping you decide if any purchases can be reduced.
By tracking key data in this spreadsheet, you can identify better-performing months, understand your target guests, and make revenue projections. These insights can help you pinpoint areas for improvement and reinvestment.
An Airbnb expense spreadsheet helps you understand your average rate. However, to optimize pricing and maximize your profits, we recommend you check out Lodgify Dynamic Pricing. This dynamic pricing tool uses an algorithm that considers over 40 attributes, market conditions, and local trends to automatically adjust your rates, ensuring you remain competitive year-round.
Once your prices are perfectly set to meet demand, input the numbers into your expense report to evaluate your Airbnb’s performance.
What does the Airbnb expenses spreadsheet cover?
Our spreadsheet enables you to document all the expenses and purchases for your Airbnb on both a monthly and yearly basis. The template includes some standard costs, such as cleaning supplies and property management tools, which you can then customize to fit your specific needs. For instance, if one of your properties has a pool, you can include the associated maintenance fees to monitor the cost of upkeep.
Beyond tracking expenses, the spreadsheet also helps you evaluate your income and income projections. You can record the gross income for each month and compare it to your expected earnings, providing a rough estimate of your average nightly rate for each month.
Finally, you can compare your expenses to your earnings to gain a clearer understanding of your profit margins and what percentage of your income is eaten up by expenses and fees.
Here’s a glimpse of our free Airbnb expenses spreadsheet to give you a better idea:
Ready to dive in? Scroll to the bottom of the page to download our Airbnb income and expenses spreadsheet, free of charge!
Important metrics to include
Let’s cover the specific metrics you’ll want to include in your spreadsheet for Airbnb expenses:
- Gross revenue: This is the total income generated monthly, including nightly rates and extra services like late checkout.
- Occupancy rate: This shows if your nightly rates are appropriately priced. A below-average rate may indicate the need for price adjustments or added amenities. Calculate it by dividing the number of nights rented by the available nights.
- Average daily rate (ADR): This reveals your average income per night. Calculate it by dividing the gross revenue by the number of nights booked.
- Revenue per available room (RevPAR): This metric highlights the revenue generated per room, regardless of occupancy. Find it by dividing the gross revenue by the total available nights.
- Average length of stay (ALOS): Calculate this by dividing the total booked nights by the number of unique bookings, giving insight into guest stay durations.
- Expenses: These encompass various costs, including utilities, supplies, cleaning services, and booking and management fees.
- Airbnb host fees: Airbnb’s fees for hosts typically fall between 5% and 15% of the total reservation cost, depending on the location of your listings, the fee structure you choose, and a few other factors.
- Management fees: These vary based on factors like property size and services provided, typically ranging from 12% to 50% of gross revenue.
- Net operating income (NOI): This gives you an idea of your property’s profitability. Deduct your expenses from your gross revenue, excluding mortgage payments and capital expenses, to arrive at this figure.
- Projected revenue: This offers insight into performance versus budget, helping you compare actual and estimated revenue based on metrics like gross revenue, ADR, and RevPAR.
- Cash flow: Subtract all expenses, including mortgage payments, from gross revenue to reflect the actual income generated.
Download our free Airbnb expenses spreadsheet
Managing an Airbnb without clear insights is the last thing you want to do. Tracking your expenses and earnings is absolutely essential to the success of your business, granting you insights into where your money is going and what adjustments might be necessary to maximize bookings and income.
Download our Airbnb expenses spreadsheet, free of charge, to start improving your financial management.
And don’t forget: Lodgify’s accounting tools are available for a more comprehensive financial analysis! Start your 7-day free trial today.
Don’t see the form to download the Airbnb budget template? Click here.
