Short-Term Rental Monthly Income Statement Template

This template is designed for Short-Term Rental property management companies to track the monthly financial performance of their management business, not individual properties.

To get started, make a copy of this Google Sheet: File → Make a copy

What This Template Includes

This Income Statement gives you a clear monthly snapshot of your management firm's financial health across five key sections:

1. Revenue: All income earned by your management firm during the month.
2. Cost of Goods Sold (COGS): Direct costs tied to delivering your management services.
3. Gross Profit: Revenue minus COGS, the margin earned before overhead.
4. Operating Expenses: Fixed monthly costs required to run your business.
5. Net Income: Your true bottom line after all expenses, interest, and taxes.

Customization Guidelines‍

Step 1: Enter Business Details

Fill in your Business Name and the Month Ended date at the top of the spreadsheet.

Step 2: Enter Operating Revenue

Enter a figure for each revenue line: Base Management Fees, New Property On-Boarding Fees, Maintenance Coordination Fees, Cleaning Markup & Admin Fees, and Guest Tech & Resort Fees.

Step 3: Enter Cost of Goods Sold

Enter a figure for each COGS line: Airbnb Channel Fees, VRBO Channel Fees, Booking.com Fees, Merchant Processing Fees, Cleaning Labor Payouts, FF&E Reserve, and Guest Consumables. The template deducts these from Revenue to calculate Gross Profit.

Step 4: Enter Operating Expenses

Enter a figure for each line: Staff Salaries & Admin Payroll, Software, Guest Marketing & Advertising, Owner Acquisition, Insurance & Professional Fees, General & Administrative, and Depreciation.

Step 5: Review Your Results

Once all figures are entered the template automatically calculates Gross Profit, Operating Income, Income Before Taxes, and Net Income. Enter your Interest Expense and Income Tax Expense to complete the bottom line.

Summary & Strategic Use

By completing this Income Statement each month you build a clear, ongoing picture of your STR management company's financial health at every level.

• Gross Profit tells you whether your core service delivery is profitable before overhead kicks in. If this margin is shrinking, your direct costs (channel fees, cleaning payouts, consumables) are growing faster than your revenue. This is the first place to look when profitability tightens.
• Operating Income is the truest measure of how efficiently you are running your business day to day. It strips out interest and taxes so you can see whether your team, your software, and your overhead are scaling in line with your portfolio growth. Investors and lenders focus here first.
• Net Income is your bottom line, the actual cash profit your company generated after every obligation is met. Tracked month over month, it tells you whether the business is building real value or simply staying afloat. A healthy STR management company should see this number grow as the portfolio scales, not stay flat.

Use these three numbers together. Gross Profit tells you where to look. Operating Income tells you how well you are managing the business. Net Income tells you whether it is all working.

Questions or Need Help?

If you need support or want help automating this process, email: info@topkey.io.