--- title: "Short-Term Rental Monthly P&L Template" description: "Download this customizable monthly P&L template made specifically for STR property managers." canonical: "https://topkey.io/tools/short-term-rental-monthly-p-l-template" language: "en" --- [Tools](https://topkey.io/tools) # Short-Term Rental Monthly P&L Template Download this customizable monthly P&L template made specifically for STR property managers. This template is specifically designed for Short-Term Rental property managers to track the monthly financial health of their management company. Unlike a standard property P&L, this focuses on your company's revenue streams and the operational overhead required to manage a portfolio of vacation rentals. To get started, make a copy of this Google Sheet: **File → Make a copy** ## What This Template Includes This statement provides a clear monthly financial picture of your management firm's performance across five distinct areas: 1. **Operating Revenue:** All income earned by your firm, including base management commissions, onboarding fees, maintenance coordination fees, cleaning markups & admin fees, and guest tech/resort fees. 2. **Direct Costs (COGS):** Costs directly tied to bookings and turnovers, such as platform commissions, merchant processing fees, cleaning labor payouts, guest consumables, and FF&E replacement reserves. 3. **Operating Expenses:** Fixed monthly overhead required to run your management business, such as staff salaries, software, guest-facing marketing, owner lead generation, and insurance & professional fees. 4. **Operating Income (EBITDA):** This represents your earnings before interest, taxes, and depreciation. It is the primary measure of your company's operational efficiency and the figure most investors look at. 5. **Net Income:** The final profit remaining after every expense, including office mortgages, corporate taxes, and asset depreciation, has been paid. ## Customization Guidelines‍ ### Step 1: Enter Business & Period Details Enter your Business Name and the Period Covered at the top of the spreadsheet. ### Step 2: Record Operating Revenue Enter the income generated by your firm's management activities: - **Base Management Fees:** Your primary commission earned from properties. - **New Property On-Boarding Fees:** One-time fees charged to owners for setting up new units on your platform. - **Maintenance Coordination Fees:** Revenue earned from marking up third-party maintenance and repair vendors. - **Cleaning Markup & Admin Fees:** Revenue from marking up turnover cleans and charging administrative fees tied to bookings. - **Guest Tech & Resort Fees:** Specialized fees collected from guests. ### Step 3: Account for Direct Costs (COGS) Record expenses that scale with your booking volume: - **Airbnb Channel Fees:** Host service fee deducted by Airbnb on each booking. - **VRBO Channel Fees:** Commission retained by VRBO per reservation. - **Booking.com Fees:** Commission retained by Booking.com per reservation. - **Merchant Processing Fees:** Stripe or direct-booking card processing charges. - **Cleaning Labor Payouts:** What you pay your cleaners. - **F&E Reserve:** Funds set aside for furniture, fixtures, and equipment replacements. - **Guest Consumables:** Coffee, paper goods, toiletries, welcome supplies, etc. ### Step 4: Enter Operating Expenses Record the fixed costs of running your office: - **Staff Salaries & Admin Payroll:** Monthly compensation for your admin and management team. - **Software:** Subscriptions for your property management system, dynamic pricing tools, smart lock platforms, and related SaaS. - **Marketing:** Costs for guest ads, direct booking site promotion, and brand marketing. - **Owner Acquisition:** Costs tied specifically to bringing new property owners onto your platform, separated from guest marketing because the channels, CAC, and payback periods differ substantially. - **Insurance & Professional Fees:** Business insurance, legal, and accounting. ### Step 5: Review Monthly EBITDA & Net Income - **Operating Income (EBITDA):** The template automatically subtracts your Total Operating Expenses from Gross Profit. Review this each month to gauge operational efficiency. - **Net Income:** Operating Income (EBITDA) minus Total Other Expenses (mortgage, business taxes, depreciation). This is your true monthly bottom line. ## Summary & Strategic Use This STR-specific Property Management Income Statement provides a strategic financial framework designed for management firms to scale profitably. By implementing this standardized reporting system, you gain: 1. **A Clear View of Management Profitability:** Moves beyond property-level tracking to show exactly how much your firm is earning after staff and software overhead. 2. **Seasonal Trend Visibility:** Identify your strongest and weakest months to plan staffing, marketing spend, and cash reserves accordingly. 3. **Precise Operational Health (EBITDA):** Accurate calculation of Operating Income (EBITDA) to measure the raw efficiency of your management services, separate from financing and tax decisions. 4. **Detailed Cost-of-Service Tracking:** High visibility into "pass-through" costs like cleaning labor, guest consumables, and channel commissions to identify where margins are being squeezed. 5. **True "Bottom Line" Net Income:** Full transparency into the final cash profit of the business after accounting for office mortgages, corporate taxes, and asset depreciation. 6. **Audit-Ready Professional Reporting:** A clean, structured format that ensures your firm’s financial health is ready for review by investors, lenders, or potential buyers. ## Questions or Need Help? If you need support or want help automating this process, email: info@topkey.io. ## Disclosures \*Topkey is a financial technology company and is not an FDIC-insured bank. Banking services provided by Thread Bank, Member FDIC. FDIC Insurance available for funds on deposit through Thread Bank, Member FDIC. FDIC deposit insurance covers the failure of an insured bank. Certain conditions must be satisfied for pass-through deposit insurance coverage to apply. The Topkey Visa debit card is issued by Thread Bank, Member FDIC, pursuant to a license from Visa U.S.A. Inc. and may be used anywhere Visa cards are accepted. The Topkey Visa charge card is issued by Thread Bank, Member FDIC, pursuant to a license from Visa U.S.A. Inc. and may be used anywhere Visa cards are accepted. Accounts are eligible for pass-through deposit insurance only to the extent pass-through insurance is permitted by the rules and regulations of the FDIC, and if the requirements for pass-through insurance are satisfied. There may be a risk that pass-through deposit insurance is not available because conditions have not been satisfied. In such cases, funds may not be fully insured in the event the insured depository institution where the funds have been deposited were to fail. \*\*Your deposits qualify for up to $3,000,000 in FDIC insurance coverage when Thread Bank places them at program banks in its deposit sweep program. Your deposits at each program bank become eligible for FDIC insurance up to $250,000, inclusive of any other deposits you may already hold at the bank in the same ownership capacity. You can access the terms and conditions of the sweep program at https://thread.bank/sweep-disclosure/ and a list of program banks at https://thread.bank/program-banks/. Please contact customerservice@thread.bank with questions on the sweep program. Pass-through insurance coverage is subject to conditions. 1 | The interest rate on the High Yield Deposit Account will be 2.93% with an Annual Percentage Yield (APY) of 2.97%. The interest rate on the Regular Deposit Account will be 1.52% with an Annual Percentage Yield (APY) of 1.53%. These rates are effective as of 9/17/26. These are variable rates and are subject to change after the accounts are opened based on the Federal Funds Rate. Minimum opening deposit and average balance requirements may apply. Fees could affect earnings on the account. Topkey does not provide tax, legal, or accounting services. All information on this site is for educational purposes only.