AirDNA, awning, mashvisor?

Question

Can anyone here tell me if they used any of these to purchase their STR property and if so which one was most helpful/accurate? thanks!

Nathan Gesner · Answer

I've looked at them to get a general understanding of a particular market, but I would not rely on them to accurately forecast income for a specific property. Computer algorithms can't assess artwork on the wall, view from the front porch, or many other factors that can determine how a property performs. They can sometimes be close, but they can sometimes be wildly inaccurate, just like Zillow Estimates.

Victor Steffen · Answer

@Estee Capland we typically get the most accurate daily rates and occupancy rates by calling around to STR hosts with inventory near the subject property. It's easy to find the host's contact info (facebook or company websites) and most are happy to have a quick chat about their experience in the market. good luck!

Jarrod Covey · Answer

AirDNA is full of incomplete or inaccurate data - i.e. if a property owner blocks calendar off for a couple of weeks, AirDNA thinks it has been booked and counts those days towards estimated revenue

Not familiar with two other in relation to evaluating a property

Manny Vasquez · Answer

I like using Airdna to come up with historical data. However, I also cross-check it with Airbnb.  Its very easy to find the property on Airdna, look at the financials and then go into Airbnb and find the same property.  I do this to look at:

1. What makes this property a top performer?  Is it location? Amenities? Decoration?

2. Look at reviews and see what previous guests like/dislike.

3. Look at their calendar for future bookings (just to determine how popular the property is)

4. Look at their pricing and how it fluctuates throughout the month

5. Look at any other "unique" details such as cancellation policy, minimum stays, accessability, etc.

I hope this helps!

Ben Scarborough · Answer

In the past I have been using AirDNA and we have generally exceeded the projections for our properties (which is a good problem), but I am starting to get more interested in STR Insights. Not many people are using this data tool yet,  but more affordable than AirDNA overall, and a really cool tool! Feel free to reach out if there is anything I can help you out with!-Ben Scarborough

Justin Browne · Answer

I would echo what everyone else is saying here. I don't that the sites like AirDNA can provide specific enough information to properly aid in your decision making process. There are a LOT of nuances when it comes to short-term rentals and what they will actually earn. Extremely subtle differences can impact profits greatly. Whatever property you buy, if you focus on the details, and making it feel like a home, you can probably beat the estimates. If you buy it and run it with indifference your numbers will be worse.

Robin Simon · Answer

We (as a lender) have relied on AirDNA for a while on underwriting short term rentals and based on a lot of analysis and experience, trust it a lot for the data and highly recommend it.  That being said, it is not perfect and should always be just used as a tool, for the specific properties, a full dive in is necessary

Estee Capland · Answer

Thank you Nathan!

AirDNA, awning, mashvisor?

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