{"id":104474,"date":"2018-12-12T15:41:49","date_gmt":"2018-12-12T22:41:49","guid":{"rendered":"https:\/\/www.biggerpockets.com\/renewsblog\/?p=104474"},"modified":"2024-02-19T13:59:19","modified_gmt":"2024-02-19T20:59:19","slug":"new-feature-comparison-data-airbnb-revenue","status":"publish","type":"post","link":"https:\/\/www.biggerpockets.com\/blog\/new-feature-comparison-data-airbnb-revenue","title":{"rendered":"This Brand New Feature Uses Comparison Data to Boost Your Airbnb Revenue"},"content":{"rendered":"

If you\u2019re an Airbnb host, you likely monitor your listing\u2019s performance like a hawk to see what you can tweak about your listing\u2014pricing, availability, minimum booking requirements\u2014to increase revenue.<\/p>\n

Should you charge less and book more often? Or charge more and hope that fewer bookings will match (or beat) a more conservative pricing strategy? And how does your pricing compare to similar properties in your market?<\/p>\n

If you\u2019re using AirDNA (a Bigger Pockets Pro Perk)<\/a>, you can now use a feature called My Properties to get this information quickly about any Airbnb listing you manage.<\/p>\n

How the New “My Properties” Feature Can Help Boost Your Listings<\/h2>\n

Here\u2019s how My Properties can show you how your Airbnb investments are shaping up compared to similar listings in your region.<\/p>\n

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A sample listing in Denver, CO.<\/figcaption><\/figure>\n

Related:<\/strong> 5 Pricing Tips to Increase Your Airbnb Revenue<\/a><\/em><\/p>\n

In the new My Properties area of MarketMinder<\/a>, you get a comparable set of up to 20 properties (\u201ccomps\u201d) for each your listings. This set is automatically generated based on your region and looks at the number of bedrooms, bathrooms, and guest capacity of nearby properties to measure your performance based on the market average.<\/p>\n

Using the information above, what can we do to boost our listing\u2019s revenue?<\/p>\n

We should probably test lowering our rates and reducing minimum stay requirements.<\/p>\n

It\u2019s easy to see that ADR is hurting our occupancy and overall revenue potential\u2014we\u2019ve had a lot of gaps in our calendar that our competition hasn\u2019t experienced. By making quick changes to our rates and minimum stay requirements, we\u2019ll likely begin to match or beat our comps\u2019 occupancy rates and RevPAR.<\/p>\n

After making these changes to our listing, we can return to the My Properties dashboard at the beginning of December to see how these changes affected our Revenue Potential in November.
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\nRelated:<\/strong> How to Use Airbnb to Travel & Live for Free in Retirement<\/a><\/em><\/p>\n

But Wait… Check Out This Demo<\/h2>\n

Watch a short demo of My Properties in action below:
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