Vacation Rental Report – Calypso Memories – April 2023

By | May 17, 2023
Calypso vacation rental report

Wow, so far this is shaping out to be a crappy year for my vacation rental unit. But I am all about transparency. As you will see, so far I am operating under a massive loss. Although there are good reasons for that, a loss is still a loss. I’ve decided to provide a little bit more detail in my vacation rental reports. So, when you look at my charts below, you will see not just the total amounts for income and expenses, but a bit more detail as to where the income is coming from and where the expenses are going. So, without further adieu, let’s dive in to see how my 1 bedroom 2 bathroom unit at Calypso has faired for April.

Vacation Rental Profit/Loss

Despite a lousy start to the year, I am committed to providing a 5-star experience to my guests every time – even if it’s going to cost me more money than income. Too many hosts cut corners and sacrifice guest experience in order to save money. Of course, money is important and it’s a critical component to survivability. But, for what it’s worth, guest experience comes first. So, let’s see how I did in April.

A. Vacation Rental Income

During the month of April, I earned $5786 in income broken down as follows:

Not bad. Bookings have been down a lot this year, and I suspect that while May, June and July will show higher numbers, I don’t expect them to be much higher. Honestly, I’m just trying to get pass next tax season before I can be a little less stressed. But so far, I am pleased with the income earned in April.

B. Vacation Rental Expenses

During the month of April, I incurred $6545 in expenses broken down as follows:

Although you see part of May’s expenses, please ignore. May is not over yet and when I did the chart, it had May in there. I was just too lazy to fix it. May’s expenses will likely be higher because the month is not over.

As for April, it’s clear that my April expenses are higher than the income earned. Long story short, I think the trend will continue such that this year will be a loss!

C. Profit/Loss Statement

Based on the fact that my expenses exceeded my income, my loss for April was $758. While I’m glad it was relatively a small loss, a loss is a loss regardless. What sucks is that I am expecting a loss for May as well! I suppose there is no use crying over spilt milk.

Annual Income and Expenses

2022 was my first year when my condo was live on the market, so let’s see how April 2023 at Calypso stacks up against April 2022.

A. Annual Income

Here is the raw data:

As you can see, I earned 9.05% more this April than I did last year. Despite the fact that bookings are generally down this year, the annual trend is moving in the right direction. Let’s hope it continues throughout the year.

B. Annual Expenses

We had a good report for the annual income. Let’s see how the annual expenses at Calypso look from last year to this year.

Here is the raw data:

Another positive report. As you can see, I incurred 7.89% less expenses in 2023 than I did in 2022. So, although my month-to-month report ended in a loss, the annual trend is positive. I’ll take any good news I can get.

Final Thoughts

This year is already super expensive and it’s increasingly likely that I will end the year in a loss. So, hopefully, I will be able to weather the storm. I’m super leveraged in one of my properties (not Calypso) to the point where my first mortgage is due in June, and I don’t yet have the mortgage payment in my bank account. Yikes!!!

At some point, I have to stop engaging in wishful thinking that everything is going to be ok and start creating and executing a sound spending and financial plan to stay afloat.

In addition to the fact that bookings are generally down in my market, I’ve also lowered my base rate on one of my properties AND offered numerous discounts. So, although I have some bookings, the amount that I would typically get from each booking is less than usual.

But, the past is the past. I still have the future to prepare for and I am hoping that discipline and maybe a little bit of good luck will see me through.

What did you think of this post? Let me know your thoughts by commenting below.

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