The investment house in September saw a lot! We had our first major disaster and big fix. I even went down the Resolution Center rabbit hole. Here’s where the money went!
Expenses
The monthly expense for September was $1363. He had an unfortunate accident and had to replace the shower glass door. Luckily, Home Depot had a replacement glass door and we were able to purchase and get a local handyman to install it all in between guests. My property manager was a champ and got the job done in the 5 days between guests.
The door and labor cost was $832 total. It sucks that we had to dive into the reserves and we were lucky we had a long term guest in the house that coincidently gave us a very good month so “technically” it wasn’t a negative month. I also learned a lot about the Airbnb Resolution Center and how the host damage protection works…bottom line, it’s more like arbitration than a type of insurance pool.
Total Expenses
The total expenses for September 2024 is $1363. We had a normal expenses of internet, electricity, and water. We also had the door repair. We survived to live another day!
Revenue
We had 4 stays this month. All went well except for the stay that may have resulted in damage. We aren’t sure what happened but I decided to stop the process so I had to take all the costs for repair. Total revenue was $1981 with 4 stays and 60% occupancy for the month.
Net Income
The net income for the month was $617. It could have been higher but things do happen but my main goal is to have a positive month. We met that. The repair obviously ate into a ton of profit but I’m also happy the airbnb money covered it and we didn’t “lose” on the month. We got lucky.
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