AirBnB Data Analysis
I am going to keep this post really simple and basic, because this topic can get very advanced – very quickly. If you are a beginner who has a property that you want to rent, or someone looking for a property to rent, it is always a good idea to find out how much your property can potentially yield for rental income. There are quite a few sites out there that help you to do this. I am going to list and recommend the few that you should look at and what you need to do.
- Mashvisor:
- AirDNA
- Zillow
- Clustrmaps
These are the top 4 I would start with. There is a lot of information out there on the internet about how to use these sites. I recommend you visit these sites, enter in your address, and play with the property analysis information that you see. Look at how much your house is worth and start there. Take 1% of the total value of your home – and that is your monthly rental baseline price. Start there. Then jump into the specific tools and calculators they have available. I will come back and write up how to use them, but there are a bunch of tutorials about this online.
Another thing I would do – research how much a one bedroom one bathroom apartment or studio is going for in your area. Find the lowest rate and see how that compares to what you were thinking you would charge per room per month.
