Location, location, location. If you are searching for a new property to rent on Airbnb, it is a really good idea to know your numbers before investing. You can estimate this by looking at many different listings on Airbnb in the areas you’re interested in. Take a look at what they charge per night, and how much of their calendar is booked versus how much is vacant. Finding your Airbnb market data is a lot of work, but it doesn’t have to be!
You can use a platform called AirDNA to look at an enormous amount of market data for your area. You can see the average monthly revenue per listing, average occupancy rates, and even the average daily rate for every listing. AirDNA also grades each listing on Rental Demand, Revenue Growth, Seasonality, Regulation, and Investability. You can look at all the competing properties in any given market, see how often they book, and the booking price. There is an amazing amount of information at your disposal.
Many people go in to their first rental property experience blind. There is so much to know, yet many will buy without doing the research. AirDNA can help you know what to look for before you begin your search and help you feel confident in your purchase and prospects on closing day. Airbnb market data is incredibly valuable and can mitigate most of the risk that comes along with investing in short-term rentals. Rental demand in your market plays a huge part in what you can charge and ultimately determines your revenue.
Originally from Connecticut, Kevin moved to Los Angeles in 2013 and worked his way up to becoming an editor on award-winning reality TV shows. Kevin owns 4 short term rentals in Southern California and founded AirHost Academy to help other hosts improve their business.
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