I am curious about occupancy rates for Short Term Rentals in the Austin Market. What is the average occupancy for anybody doing this in the area?
@Allen Carpenter If I allowed 1 night bookings I'd be booked 100% Feb - Oct. In Oct my places were booked 24 - 28 nights booked, and that's with a 3 night min.
Nov - Jan is more like 70%+. But I lower my rates a lot for winter.
Airdna.co has been extremely accurate for me in Austin.
Let me know if you have any questions, and feel free to message me.
@Allen Carpenter I own/operate a portfolio of STRs in Central Austin. Our 2 bedroom properties maintain about 75% occupancy and our 4 bedroom properties are at about 50%. We use responsive pricing and raise/lower prices pretty frequently to keep our occupancy rates up.
Just go on Airbnb and find properties that are similar to what you're looking to rent and obsess over their calendars. Or get yourself an Airdna account and spend way too much time making your brain hurt and never buy anything.
I have always shot for 83% even before I bought my first one and that's the number I've stuck with. I always beat it. I spent about 2 minutes on airdna before I knew I could do better research on my own. Avery has an Airdna account she lets her clients use when the want to obsess. I think it goes nowhere. Just study your neighbors. And ask them questions!
AGREE with @Lucas Carl Airdna is way overrated and not worth the money. my theory is they are overpricing because they realize eventually people will catch on and the gravy train will be over.