STR vs LTR Conversion Calculator — Rex's Toolbox

Rex says

Money math without the spreadsheet headache. Plug in your numbers and I'll show you exactly where the dollars land.

Try a scenario

Click to load — tweak from there.

Inputs

STR average nightly rate($)

STR occupancy rate(%)

Platform fee(%)

Cleaning cost per stay($)

Average stay length(nights)

STR furnished utilities + extra insurance (annual)($)

Long-term monthly rent($)

LTR vacancy rate(%)

LTR operating costs (annual)($)

Result

STR net advantage over LTR

-$8,594

STR annual net income

$16,278

LTR annual net income

$24,872

STR gross booking revenue

$34,931

Annual cleaning cost (STR)

$7,762

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How to use this

1Enter str average nightly rate ($).
2Enter str occupancy rate (%).
3Enter platform fee (%).
4Enter cleaning cost per stay ($).
5Enter average stay length (nights).
6Enter str furnished utilities + extra insurance (annual) ($).
7Enter long-term monthly rent ($).
8Enter ltr vacancy rate (%).
9Enter ltr operating costs (annual) ($).
10Read your str net advantage over ltr on the right — it updates as you type.
11Hit Share to keep the scenario or send it to someone.

About this calculator

Switching a property between short-term (Airbnb/VRBO style) and long-term rental changes almost every line item: gross revenue potential, occupancy volatility, cleaning and turnover costs, platform fees, furnishing and utility costs you now carry instead of the tenant, and local regulatory risk. This calculator nets out both models so you can see which actually produces more annual income after realistic costs, not just which has the higher headline nightly rate or monthly rent — many STR operators are surprised how much cleaning, platform fees, and furnished-utility costs eat into the gross number.

FormulaSTR net = (nightly rate × occupancy% × 365) − platform fees − cleaning costs − furnished utilities − STR-specific insurance. LTR net = (monthly rent × 12 × (1 − vacancy%)) − standard operating costs.

Worked example

Using the values the calculator loads with:

Inputs

STR average nightly rate: 165 $
STR occupancy rate: 58 %
Platform fee: 14 %
Cleaning cost per stay: 110 $
Average stay length: 3 nights
STR furnished utilities + extra insurance (annual): 6000 $
Long-term monthly rent: 2400 $
LTR vacancy rate: 6 %
LTR operating costs (annual): 2200 $

Results

STR net advantage over LTR: -$8,594
STR annual net income: $16,278
LTR annual net income: $24,872
STR gross booking revenue: $34,931
Annual cleaning cost (STR): $7,762

What each field means

Inputs

STR average nightly rate ($): The str average nightly rate used in the calculation, measured in $. Starts at 165 $ so you have a working example on load.
STR occupancy rate (%): The str occupancy rate used in the calculation, measured in %. Starts at 58 % so you have a working example on load. Accepted range: 0–100 %.
Platform fee (%): The platform fee used in the calculation, measured in %. Starts at 14 % so you have a working example on load. Accepted range: 0–30 %.
Cleaning cost per stay ($): The cleaning cost per stay used in the calculation, measured in $. Starts at 110 $ so you have a working example on load.
Average stay length (nights): The average stay length used in the calculation, measured in nights. Starts at 3 nights so you have a working example on load. Accepted range: 1–30 nights.
STR furnished utilities + extra insurance (annual) ($): The str furnished utilities + extra insurance (annual) used in the calculation, measured in $. Starts at 6000 $ so you have a working example on load.
Long-term monthly rent ($): The long-term monthly rent used in the calculation, measured in $. Starts at 2400 $ so you have a working example on load.
LTR vacancy rate (%): The ltr vacancy rate used in the calculation, measured in %. Starts at 6 % so you have a working example on load. Accepted range: 0–50 %.
LTR operating costs (annual) ($): The ltr operating costs (annual) used in the calculation, measured in $. Starts at 2200 $ so you have a working example on load.

Results

STR net advantage over LTR: Returned as a money amount in US dollars and shown as the headline result. It recalculates instantly whenever you change an input, so you can compare scenarios without reloading.
STR annual net income: Returned as a money amount in US dollars. It recalculates instantly whenever you change an input, so you can compare scenarios without reloading.
LTR annual net income: Returned as a money amount in US dollars. It recalculates instantly whenever you change an input, so you can compare scenarios without reloading.
STR gross booking revenue: Returned as a money amount in US dollars. It recalculates instantly whenever you change an input, so you can compare scenarios without reloading.
Annual cleaning cost (STR): Returned as a money amount in US dollars. It recalculates instantly whenever you change an input, so you can compare scenarios without reloading.

FAQ

What occupancy rate should I assume for STR?

It depends heavily on market and seasonality — strong vacation markets can run 60-75% annual average, while a mediocre location or an oversaturated market might see 35-45%. Pull actual comps from AirDNA or similar market data for your specific area rather than guessing, since this single number swings the whole comparison.

What am I missing if I just compare nightly rate x 365 to monthly rent x 12?

Almost everything that makes the comparison honest: platform fees (10-15%+), cleaning between every stay, furnishing and higher utility costs you now pay instead of the tenant, STR-specific insurance riders, and much higher local regulatory and enforcement risk in many cities that have capped or banned STRs.

Does STR income offset itself against passive activity losses differently?

Yes, this matters for tax purposes — STRs with average stays under seven days and material participation by the owner can be treated as non-passive, potentially allowing losses to offset other active income, unlike typical long-term rental losses which are usually passive. Talk to a CPA before assuming this applies to your situation.

What's the biggest hidden STR cost?

Furnishing and re-furnishing (typically $8,000-$20,000 upfront depending on size and quality) plus ongoing wear and breakage that a long-term tenant's own furniture would never generate. Many first-year STR operators underbudget this and are surprised by replacement costs in year two or three.

Accuracy and limitations

Results are estimates before tax, fees, and inflation unless an input explicitly covers them.
Rates are treated as fixed for the whole period — variable-rate products will drift from this projection.
This is educational maths, not financial advice. Check anything contractual with the lender or your accountant.

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Cite this calculator

Writing about this topic? Grab a citation — every link helps keep these tools free.

APA

RevenueLab. (2026). Short-Term vs Long-Term Rental Switch Calculator. Retrieved from https://www.revenuelab.fyi/toolbox/str-vs-ltr-conversion

HTML

<p>Source: <a href="https://www.revenuelab.fyi/toolbox/str-vs-ltr-conversion" target="_blank" rel="noopener">Short-Term vs Long-Term Rental Switch Calculator — RevenueLab</a> (2026).</p>

Markdown

Source: [Short-Term vs Long-Term Rental Switch Calculator — RevenueLab](https://www.revenuelab.fyi/toolbox/str-vs-ltr-conversion) (2026).