Let us get you a step closer to your goals by estimating the income potential for your property on a pro forma.
We look at a variety of factors that feed into the pro forma. Things such as financing, supplies, maintenance, utilities, association fees and other items create the basis for the pro forma. Then, based on what we know about the local vacation rental market, rates, trends in market behavior, competition and more, we are able to determine and forecast rates.
A few things to note about the Pro Forma:
1. It is likely this will be the first of several pro formas you see. Please think of this document as fluid since you may become aware of more information later that will affect it. For example, you might learn there is an association fee you were unaware of initially. This would need to be added to the pro forma and may alter original numbers.
2. All information in the pro forma is estimated. The purpose of it is to provide an estimate of rental income, return on investment and to function as a tool to help you determine the viability of the property as a successful short term rental.
3. At no time is the information in the pro forma guaranteed. The information you provide on this page along with our knowledge and research about the area will work together to make the financial side of the purchase decision clear. The outcome after purchasing the property may be different than what the pro forma states.
Each time we have purchased a property, we’ve used a proforma to guide our decision. Our hope is that this is helpful to you as well.