SmartHelping / Short-Term Rentals / Excel
Short-Term Rental Financial Model
Plan acquisitions, renovations, rental operations, refinancing, and exits on one timeline. Model up to 20 individual properties or property groups over a maximum of 15 years, with separate and consolidated cash-flow views.
Immediate download after purchase. By purchasing, you agree to the Terms of Service.
Version 2 walkthrough & spreadsheet preview
See the short-term rental portfolio model in action.
Model upgrades
Explore the upgraded planning features.
Scenario toggle
Compare assumptions for daily rental price, occupancy, and loan-to-value using the added scenario toggle.
Additional initial-cost inputs
Use five additional slots for the initial costs of each property group or tranche.
Sources and uses
Review a sources-and-uses summary alongside the improved equity injection flow.
Waterfall and presentation
The updates also improve the waterfall, formatting, and labels throughout the model.
Acquisition & renovation schedule
Schedule each property or group on its own timeline.
Twenty property or tranche slots
Use each slot for a single property or a group of properties. Each row connects dynamically to its own monthly and annual pro forma.
Purchase and operating dates
Assign an ID or name, purchase date, live date, and unit count to each property or group.
Purchase costs
Set an average purchase price per unit and review the total acquisition price for the slot.
Renovation timing and costs
Set the average renovation cost per unit and renovation duration. The model treats renovation costs as unfinanced.
Revenue & operating expenses
Build the rental forecast around pricing and seasonality.
Daily rental rate and growth
Enter rent per day per unit and annual rent growth for each property or group.
Monthly occupancy
Set expected monthly utilization to reflect the seasonal pattern in rental demand.
Seasonal price adjustments
Define price variation from the base rent for months 1–12 to reflect higher- and lower-rate periods.
Fixed and variable expenses
Use nine fixed-expense slots and nine variable-expense slots. Variable expenses change with utilization rates.
Financing, refinance & exit assumptions
Evaluate purchase debt, refinancing, and the exit.
Purchase financing
Choose whether the purchase is financed, set the financed percentage, and review the resulting loan amount. Initial financing applies to the purchase price only.
Initial loan terms
Enter amortization in years and APR. The initial loan’s payments-per-year input must be set to 12.
Refinancing timing and terms
Choose whether to refinance and set the number of months from the initial loan, refinance amortization, APR, and payment frequency.
Refinance valuation
Set the refinance loan-to-value ratio and refinance capitalization rate when refinancing is enabled.
Property sale assumptions
Set the exit capitalization rate, exit month, and selling fees for each property or tranche.
Capital requirements over time
Use the acquisition schedule, financing assumptions, and operating cash flows to evaluate funding requirements as the portfolio grows.
Financial reporting
Review the property detail and the portfolio as a whole.
Individual and consolidated pro formas
Review monthly and annual reports for each property or group, rolling into consolidated monthly and annual summaries.
NOI and cash flow
Follow the pro formas through net operating income, financing cash flows, and final cash flow.
Debt-service coverage
Review debt-service coverage ratios for individual properties or groups and for the portfolio in aggregate.
Visualizations and summary checks
Use the visualizations for the overall project and individual annual pro formas. Review the global summary’s consolidated checks as you change assumptions.
Equity & cash-flow waterfall
Configure equity contributions and distributions.
The property forecasts populate from the operating and financing assumptions. Configure the waterfall’s equity sources and cash-flow splits separately.
Joint-venture structure
Enter the GP and LP shares of required equity and define the cash-flow splits for each IRR hurdle or waterfall tier.
Sole-owner structure
Set the LP share to 0% when one operator is funding and owning the investment. Contributions and distributions then flow to the GP/operator.
Getting started
Move from property inputs to a portfolio plan.
Edit the input cells with light-yellow shading and blue text. The remaining calculation cells contain formulas.
Build the acquisition schedule
Enter the property or group names, unit counts, purchase dates, live dates, acquisition costs, and renovation assumptions.
Set the operating and debt assumptions
Define daily pricing, monthly utilization, seasonal pricing, expenses, purchase financing, refinancing, and exits.
Configure equity and scenarios
Enter the GP/LP equity structure and waterfall splits, then use the scenario toggle to compare price, occupancy, and LTV assumptions.
Review the consolidated results
Inspect property-level and consolidated cash flow, coverage ratios, visuals, and the checks on the global summary.
More templates in one purchase
Explore the bundles that include this model.
Real Estate Financial Models
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Explore the templateSuper Smart Bundle
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Explore the templateAdditional resources
Explore the supporting tools and explanations.
Questions before you start
A few useful details.
How many properties can I model?
There are up to 20 slots. Each can represent one property or a group of properties sharing that slot’s assumptions.
How long is the forecast?
The model supports a maximum analysis period of 15 years, with monthly and annual views.
Can each property have different timing and operating assumptions?
Yes. Each slot has its own acquisition, renovation, operating, financing, and exit assumptions, with a linked individual pro forma.
Does it handle seasonality?
Yes. Set expected utilization by month and monthly price variations from the base rent. You can also enter annual rental growth.
Are renovation costs financed?
The model’s initial financing applies to the purchase price. Renovation costs are treated as unfinanced.
Can I include refinancing?
Yes. Set a refinance flag, timing, loan terms, LTV, and refinance capitalization rate for the relevant property or group.
Can a sole operator use the waterfall?
Yes. Set the LP share to 0% so all contributions and distributions flow to the GP/operator.
Which assumptions can the scenario toggle change?
The scenario toggle covers price per day, occupancy, and loan-to-value.
Which cells should I edit?
Use the light-yellow input cells with blue text. Leave the formula cells intact, and review the global summary checks after changing assumptions.
How is the model delivered?
The $45 one-time purchase provides an immediate Excel download. The model is also included in the bundles listed above.
Plan your short-term rental portfolio
Connect acquisition timing, rental cash flow, and funding.
Short-Term Rental Financial Model — $45, one-time purchase.
