Avada Properties, a property management business for local rental cabins, has recently released a rental income calculator that generates realistic estimates of revenue and monthly cash flow for rental cabins in the Pigeon Forge/Sevierville/Gatlinburg area.
The calculator is free and easy to use. Rental cabin owners simply enter the address of their cabin, select a few options, and the estimates are generated instantly. The tool also displays revenue based upon estimated performance options so users are aware of what to expect from their cabin based on current performance (low, expected, and high performance).
The Avada calculator utilizes cabin listing and booking data from their own current portfolio as well as data from other property managers like Airbnb, VRBO, Cabins USA, American Patriot Getaways to generate rental income estimates as accurately as possible.
“I know when I bought my first cabin, my real estate agent provided me a revenue pro forma that didn’t accurately represent my investment”, said Justin Anderson, owner of Avada Properties, while discussing how he came up with the idea for this calculator.
“I needed to know the financial impact of having a good cabin manager vs self-managing my cabin. I needed to know what my expected maintenance costs would be, how much cleaning would run, and all those other little things you don’t think about. Now, with access to the necessary data and with years of track record, I’m super excited to provide the tool I needed when I started to help other cabin investors,” he explained.
Thanks to this tool, prospective cabin owners and real estate agents can accurately predict the ROI of their cabin investments, including monthly mortgage payments, utility costs, regular maintenance and, ultimately, what the monthly cash flow of their property will likely generate.
A cabin owner no longer needs to wonder what would happen if they split from their current cabin property manager that is charging 30% and seeing under 90% occupancy. Now all those ‘what if’ scenarios are easy to test with this tool.
Having access to this information can turn out to be a game changer for cabin owners, as it helps them figure out what changes they need to make to increase revenues. Owners can easily compare how much they could make if they went with option A versus how much they could make if they went with option B.
The reviews of this rental income calculator have been positive since the tool’s release. In his review, Shane Brook echoes the opinions of some users and talks about how useful the tool can be to cabin owners and property managers alike.
“I interact with cabin owners every day and one of the things I like to focus on is how they can improve their cabin’s individual performance. Obviously you can’t relocate a cabin (easily), but how much more can we make them by switching off one of the 30% management fee local cabin companies? How much more would they make if they improved their amenities? How about saving a few dollars on maintenance? And especially what happens when they improve their rate optimization and occupancy. Now all those answers are right at your fingertips!” he said.
The free cabin rental estimator app is available on the Avada Properties website. Cabin owners can click this link to go directly to the calculator and get started using it immediately. No signup or email opt-in is required.