Airbnb & Short-Term Rental Acquisition Underwriting Model – Excel XLSX

BENEFITS OF THIS DOWNLOADABLE EXCEL DOCUMENT

1. Compute debt service coverage on the stabilised basis, with the ramp-up period held separate, so the ratio you hand a DSCR lender is the one that will be tested.
2. Drive revenue from 12 monthly ADR and occupancy inputs across a 36-month cash flow, instead of one annual average that hides a seasonal market's weak months.
3. Read a colour-coded sensitivity matrix running ADR plus or minus 20% against occupancy plus or minus 20% on both cash-on-cash and DSCR, alongside a break-even occupancy figure.

AIRBNB EXCEL DESCRIPTION

Airbnb & Short-Term Rental Acquisition Underwriting Model is an Excel template (XLSX) with a supplemental PDF document available for immediate download upon purchase.

This is a five-year pro forma for an investor buying or refinancing a short-term rental in the United States, built around the underwriting logic DSCR lenders apply rather than the arithmetic of a generic rental calculator. You found the property, the bank wants numbers, and this is the file that produces them in a form a lender recognises.

The modelling error it intercepts is the treatment of ramp-up and averages. Debt service coverage is computed on a stabilised basis with your ramp-up period kept separate, which many templates conflate, so the coverage ratio you show a lender is the one it will actually test. Revenue is driven by 12 monthly ADR and occupancy inputs rather than a single annual average, so a seasonal market is visible month by month across a 36-month cash flow instead of being flattened into one optimistic number.

What it calculates for your deal. Debt service coverage the way lenders compute it, on the stabilised basis. Cash-on-cash return year by year against your real cash in. A five-year IRR with exit assumptions you control. Break-even occupancy, which is the single figure that tells you how much cushion the deal really has. A 36-month cash flow with seasonal ADR and occupancy. And a colour-coded sensitivity matrix that runs ADR plus or minus 20% against occupancy plus or minus 20% on both cash-on-cash and DSCR, so you can see which combination of assumptions takes the deal under water.

What is inside. A 10-sheet Excel workbook with no macros, no add-ins and no external links, so it also works in Google Sheets. A START HERE sheet that gets your first pro forma done with only the yellow cells to fill. Deal, financing, revenue and expense inputs that are all editable and all visible, including a DSCR loan versus conventional choice and an interest-only option. A dashboard with KPI cards and charts formatted to share with a lender or a partner. A benchmarks sheet with sourced 2025-26 ADR, occupancy and expense ranges by market type, plus instructions for pulling your own market's data free from public short-term-rental data services. And a 13-page PDF guide with a sheet-by-sheet walkthrough, an explanation of how lenders read your DSCR, and a FAQ.

On verification and limits. Every formula in the workbook is machine-verified: the full calculation graph is recomputed by three independent engines, including Excel itself, before release. The model is an educational planning tool, not financial, investment or legal advice. Short-term rental ADR, occupancy and expenses vary by market and change over time, so verify your market data and consult your own professionals before purchasing real estate.

Source: Best Practices in Airbnb, Integrated Financial Model Excel: Airbnb & Short-Term Rental Acquisition Underwriting Model Excel (XLSX) Spreadsheet, ProformaWorks