Rental Income Calculator

Step 1: Enter Daily Rental Amount

• Input the daily rate you expect to charge for the property. For assistance with setting an appropriate rate, feel free to reach out to one of our agents.

Step 2: Enter Days Rented Per Month

• Enter the average number of days per month the property is expected to be rented. This field lets you account for occupancy levels, which can vary by season or location.

Step 3: Enter Property Purchase Price

• Enter the property’s purchase price or its current market value.

Step 4: Adjust Additional Monthly Expenses

• Monthly Association Fees: If applicable, enter the monthly association fees for the property.
• Property Management Fee: Set to 25% by default, this is the percentage of rental income paid to a management company. Adjust if you’ll manage the property yourself or have different management costs.
• Property Tax: Default is 1% of the property purchase price, divided monthly. Adjust based on local property tax rates.
• Monthly Insurance: Enter the estimated monthly insurance cost for the property.
• Monthly Utilities: Defaulted to $160, adjust based on expected monthly utility costs or if utilities are covered by tenants.
• Reserves for Maintenance & Upkeep: Defaulted to 2% of rental income, this amount is set aside for maintenance and repairs. Adjust as needed.

Step 5: Calculate

• Click Calculate to view your Annual Net Rental Income and Cap Rate. These values provide insights into your potential return on investment based on the data entered.