Is AirDNA subscription a must?

Question

How important is an AirDNA subscription to someone starting out in STRs? We have one STR/MTR in Reno and are looking to add a 2nd in the next 2 months.

Michael Baum · Answer

Not necessary at all @Josh Wallin. Like @John Underwood said, just take a look at similar places in your area to see their nightly rate, occupancy and amenities and compare.

AirDNA isn't terrible, it's just not as reliable as some people think. You can get good numbers depending on how many comps there are in the area. More data usually equals better results.

John Underwood · Answer

It's not great, manually checking comps is best.

Lauren Kormylo · Answer

If you're serious about an area, I would pay for at least a month of AirDna for the info, as long as you understand the limitations.  Their data includes cleaning fees in the gross, so be aware of that.  They take data from Airbnb and Vrbo, but not from other booking sites, or direct booking.  So they don't know if days were booked on other platforms, or blocked by the owner for personal use or maintenance time. But in general, it gives a good overview of your competitors' data for the last 12 months, which you can't get by the "enemy method" of looking at competitors' current calendars, which only shows the future.  It's also good for seeing what percentage of units in that area are 1, 2, 3, 4, or more bedrooms, pricing averages for each, and has a list of top earners for each size.  A lot of other info too.  Definitely worth subscribing for a short time.

Annette Hibbler · Answer

We use MashVisor. AirDNA charges per location, if I remember correctly. Whereas, Mashvisor covers everywhere.

Sara Levy-Lambert · Answer

Reach out to local airbnb managers to get assessmentsLook up awning airbnb estimator for a free solution, you can see all the nearby comps and make your own adjustments

Leslie Anne Morris · Answer

AirDNA has become more conservative lately. Get a good team in your target market and they can plug you into local data.

Brooklyn McCarty · Answer

Is it a must? No. Is it nice to have around? Sure.

Enemy method is always your best tool though.

Brett Deas · Answer

I prefer Price labs for accurate numbers, bur AirDNA is easy to use and has a different set of statistics that can also be helpful.

Is AirDNA subscription a must?

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