House Hacking

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Gregory Boulet
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Two ADU’s for Rent in a capital city

Gregory Boulet
Posted Nov 19 2022, 19:16

Hello,

I have two ADU's on my property (one attached, one unattached). They are fully furnished with the attached one with a bar/kitchenette, a private bathroom for the both of them, and a shared laundry room with the main house. I'm putting them up on both furnished finder and air bnb. The location is in Olympia, WA where there are many government workers, a university nearby, and two hospitals also nearby. How much should I charge for daily rates to start off with? Any advice is much appreciated.


-Greg

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Olivia Radziszewski
  • Realtor
  • Chicago, IL
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Olivia Radziszewski
  • Realtor
  • Chicago, IL
Replied Nov 20 2022, 04:45

@Gregory Boulet- Hi, have you gone on Furnished Finder and Airbnb and looked in your area? Look for similar properties to the ones that you have, you can typically get a good idea of what to list them for. Good luck!

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Terry Fogarty
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Terry Fogarty
Replied Nov 20 2022, 05:16
Quote from @Olivia Radziszewski:

@Gregory Boulet- Hi, have you gone on Furnished Finder and Airbnb and looked in your area? Look for similar properties to the ones that you have, you can typically get a good idea of what to list them for. Good luck!


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Gregory Boulet
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Gregory Boulet
Replied Nov 20 2022, 08:40

I haven’t yet but will today. Thanks for your reply Olivia 

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Nicholas Coulter
  • Real Estate Agent
  • Southern California
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Nicholas Coulter
  • Real Estate Agent
  • Southern California
Replied Nov 20 2022, 14:01

@Gregory Boulet I would run comps on furnish finders as if you were looking for a comparable stay as a travel professional. For Air BNB i would look into one of the data analytics companies like AIR DNA for example. Price under market 5% and get some strong reviews to raise prices. 

  • Real Estate Agent

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Nicholas Coulter
  • Real Estate Agent
  • Southern California
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Nicholas Coulter
  • Real Estate Agent
  • Southern California
Replied Nov 20 2022, 14:02

I would also add @Eric Yu to this thread. He is an expert in Washington! 

  • Real Estate Agent

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Sherief Elbassuoni
  • Realtor
  • Bellevue, WA
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Sherief Elbassuoni
  • Realtor
  • Bellevue, WA
Replied Nov 22 2022, 17:11

@Gregory Boulet, for one month rent comps try rentometer. 

For Airbnb style (nightly rate), you can try mashvisor, airdna, or any of these services

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Gregory Boulet
  • New to Real Estate
  • Olympia, WA
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Gregory Boulet
  • New to Real Estate
  • Olympia, WA
Replied Nov 22 2022, 18:46

Thank you