Has anyone ever used AirDNA for Air BnB or VRBO properties? I haven't purchased a property yet as a vacation rental but I'd like to see if it might be worth my time/money in certain locations. Is there anything that's comparable to AirDNA that anyone can recommend?
AirDNA data is hit and miss. It's better than nothing, but I've seen material differences in the #'s they say a property has produced vs. actual #'s. (for example, saying a property has made $140,000 gross, when in fact it really made $92,000 gross) I think the occupancy curve & ADR #'s can be used to get a general idea. If you're looking at investing in some of the major vacation rental markets, here's a free resource: https://evolve.com/vacation-re...
It wont' have everywhere which is the downside, but you could always call up the company to investigate what you're looking at doing since they have a team of consultants there to help out for free.
Just curious, where are you looking to purchase @Kelly Beck ?
Thanks, William. We're just getting started in the Wakulla/Franklin county areas of Florida. We are planning on getting into mobiles for long term rentals in that area because they are everywhere but would like to keep options open for vacation rentals on or near Alligator Point.
@Kelly Beck , I use AirDNA all the time but it’s hard to beat some good old fashioned networking. The people in my market tend to be very open about the gross income they generate. AirDNA is very market specific in my opinion and I would verify with owner operators in the area. For my market here in Carolina Beach it’s a great way to get a conservative gross income number in my opinion.
I honestly don't use it at all. AirDNA doesn't account for value in their formula and they also miss direct bookings. The best way to do research on an area in my opinion is to get on Airbnb view calendars, pricing, and amenities. If you can find the highest rated place in the area and provide amenities that they lack you can be successful in the STR business. The market is saturated with casual Airbnb hosts and is shifting to providing value to the guests. The more value you provide then the more profitable your business will be.