New to Real Estate · 01886 · Member since 2023 · 23 posts · 8 votes
I'm trying to estimate airbnb revenue for a bunch of properties in the Orlando area. I've used AirDNA but I seem to have hit my limit. I've also used Awning but the data seems to change so I'm wondering if there is a tool that is accurate and reliable. I am also trying to collect as much as I can from the sellers but not everyone has great data which is why I'm trying to supplement with an online tool.
Where does the data come from when using AirDNA and Awning. Are they pulling it directly from the airbnb site? How reliable are these tools?
I'm willing to even pay for a subscription but AirDNA is pretty pricey.
Contractor/Investor/Consultant · San Diego / Phoenix · Member since 2021 · 12k+ posts · 15k+ votes
3y
I want the most accurate information, not some computer algorithm guessing. So I always just look up my competitors listings and see what they're charging and how full they are....which amenities do they have, etc....
You can double-check with the sites you mentioned, but to rely only on them would be foolish IMHO....
Contractor/Investor/Consultant · San Diego / Phoenix · Member since 2021 · 12k+ posts · 15k+ votes
3y
I want the most accurate information, not some computer algorithm guessing. So I always just look up my competitors listings and see what they're charging and how full they are....which amenities do they have, etc....
You can double-check with the sites you mentioned, but to rely only on them would be foolish IMHO....
Realtor · Central Florida-Orlando · Member since 2014 · 1k+ posts · 892 votes
3y
@Keith Davighi I like speaking directly with Property managers that have many units under service in the communities you are looking at. They can provide you with real-time data, not an algorithm (those are good to paint a picture, but they don't know the nuances and amenities of each individual home). Many of the property managers talk to each other and compare notes and share marketing ideas and 'run comps' on each other.
The other option would be the 'enemy method' to search for similar size home within your community and others close by with similar amenities and scour their calendars.
Olympia, WA · Member since 2016 · 8k+ posts · 7k+ votes
3y
Hey @Keith Davighi. I agree with my buds here. Look at VRBO and AirBNB directly to compare. I also use the Awning estimator and I find it a quick and dirty estimate. It is going to be rough.
We are looking at a beach house. Awning shows 65k a year estimate. It is already a STR and did 55k in 2022 and 26k so far for 2023. That is a pretty big difference overall.
I want the most accurate information, not some computer algorithm guessing. So I always just look up my competitors listings and see what they're charging and how full they are....which amenities do they have, etc....
You can double-check with the sites you mentioned, but to rely only on them would be foolish IMHO....
Property Manager · Branson Missouri · Member since 2022 · 73 posts · 51 votes
3y
About a year and half ago I attended a conference where we met up with AIRDNA. I reviewed their data with them for our area. They were showing the top property manager as someone who owns timeshares in other states and has nothing to do with our area. AIRDNA did not have our data despise we are the one or one of the largest PMs in our area managing over 200 properties. After that meeting they manual started adding our data as I saw it populate during the conference.
About a year and half ago I attended a conference where we met up with AIRDNA. I reviewed their data with them for our area. They were showing the top property manager as someone who owns timeshares in other states and has nothing to do with our area. AIRDNA did not have our data despise we are the one or one of the largest PMs in our area managing over 200 properties. After that meeting they manual started adding our data as I saw it populate during the conference.
Ok so can I assume that what you’re saying is that it’s likely not very reliable? Or is it reliable for the areas where PMs pay airdna to populate their data? Lol
Insurance Agent · Gainesville, GA · Member since 2023 · 99 posts · 89 votes
3y
STRInsights is slightly superior to Airdna when comparing markets on a national or regional level. So far, Airdna is still the best at providing property-level comps and projections.
I want the most accurate information, not some computer algorithm guessing. So I always just look up my competitors listings and see what they're charging and how full they are....which amenities do they have, etc....
You can double-check with the sites you mentioned, but to rely only on them would be foolish IMHO....
Exactly this. Manually check it yourself.
I feel like a few items, like guest count, amenities, nightly cost would be pretty easy to manually snag data on but what about occupancy rate? Would you just look at every single month and see whats available and whats not? I feel like that piece would be pretty tedious.
I hear ya - i just feel like their data is somewhat limited and to be used as a rough estimate, along with airbnb calculator (not to mention that site is god awful slow)
I'm trying to estimate airbnb revenue for a bunch of properties in the Orlando area. I've used AirDNA but I seem to have hit my limit. I've also used Awning but the data seems to change so I'm wondering if there is a tool that is accurate and reliable. I am also trying to collect as much as I can from the sellers but not everyone has great data which is why I'm trying to supplement with an online tool.
Where does the data come from when using AirDNA and Awning. Are they pulling it directly from the airbnb site? How reliable are these tools?
I'm willing to even pay for a subscription but AirDNA is pretty pricey.
Any help would be greatly appreciated. Thank you!
@Keith Davighi did you ever find what you were looking for in Orlando? We have had some pretty dramatic shifts in the past 9 months, both with RE prices, and with rates and occupancies. Curious how you made out.