Are you thinking about buying a property for AirBNB, but you aren’t sure how it will perform? Are you thinking of converting one of your current rentals? AirDNA is one of the best tools on the market to analyze your deals and make sure that your short-term rental business will be successful.
Market Research – AirDNA
AirDNA allows you to research your target market for short term rentals.
Learn about key data such as average daily rate, occupancy, and expected revenue. It will also give a market grade based on demand, growth, seasonality, and local regulations. This can give you a great idea of whether the market you are looking at will be good for vacation rentals.
The occupancy screen on AirDNA will show the expected occupancy rate. It also shows the booking lead time and the number of booked properties. It will also show the trends so you can tell if the market is improving or declining.
Shows average daily rates for entire homes, private rooms, and shared room listings.
Shows overall revenue for entire homes, private rooms, and shared room listings. Learn More >>>
Rental Prices – AirDNA
Smart Rates is a dynamic pricing tool to maximize your property’s revenue and occupancy. This feature analyzes the season, demand, holidays or events in the area, day of the week and more to make sure your price is maximized. You can customize how aggressive the feature is and you can connect your listings to automatically adjust pricing for you.
The pacing screen looks at booked listings and median rates. It also looks at available rates and booked rates. Lastly, the overall booking trends are available to review.
Helps you analyze peak and low demand times. It shows daily revenue per rental. Learn More >>>
Property Analysis – AirDNA
This section will give you expected info for a specific property. You can enter a specific address, number of bedrooms, baths, and guests. This will give you an anticipated annual revenue, average daily rate, and expected occupancy.
Top properties will show you the best listings for the area, so you can compare your property to the other high-performing listings.
How does this neighborhood compare to another in the area? How does the city compare to another city? Help narrow down your focus so you can concentrate on high-performing locations. Learn More >>>
Conclusion – AirDNA
AirBNB businesses are becoming more and more popular, especially in high demand areas. More and more tools are becoming available to assist you with this type of business. Make sure you have the best data to maximize your listings, and AirDNA is here to help!
Also, don’t forget that you need different insurance for your AirBNB properties. At Think Safe Insurance, we have a number of options for Florida properties. Give us a call at 813-425-1626 or request a quote online.