This Brand New Feature Uses Comparison Data to Boost Your Airbnb Revenue

by | BiggerPockets.com

If you’re an Airbnb host, you likely monitor your listing’s performance like a hawk to see what you can tweak about your listing—pricing, availability, minimum booking requirements—to increase revenue.

Should you charge less and book more often? Or charge more and hope that fewer bookings will match (or beat) a more conservative pricing strategy? And how does your pricing compare to similar properties in your market?

If you’re using AirDNA (a Bigger Pockets Pro Perk), you can now use a feature called My Properties to get this information quickly about any Airbnb listing you manage.

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How the New “My Properties” Feature Can Help Boost Your Listings

Here’s how My Properties can show you how your Airbnb investments are shaping up compared to similar listings in your region.

A sample listing in Denver, CO.

Related: 5 Pricing Tips to Increase Your Airbnb Revenue

In the new My Properties area of MarketMinder, you get a comparable set of up to 20 properties (“comps”) for each your listings. This set is automatically generated based on your region and looks at the number of bedrooms, bathrooms, and guest capacity of nearby properties to measure your performance based on the market average.

Using the information above, what can we do to boost our listing’s revenue?

We should probably test lowering our rates and reducing minimum stay requirements.

It’s easy to see that ADR is hurting our occupancy and overall revenue potential—we’ve had a lot of gaps in our calendar that our competition hasn’t experienced. By making quick changes to our rates and minimum stay requirements, we’ll likely begin to match or beat our comps’ occupancy rates and RevPAR.

After making these changes to our listing, we can return to the My Properties dashboard at the beginning of December to see how these changes affected our Revenue Potential in November.

Related: How to Use Airbnb to Travel & Live for Free in Retirement

But Wait… Check Out This Demo

Watch a short demo of My Properties in action below:

Ready to get started? All BiggerPockets Pro subscribers get 30% off their first 6 months of AirDNA—a savings of up to $180. Get the promo code in your Pro Perks dashboard, then sign up for MarketMinder to start comparing your listings head-to-head with the competition today.

To read more about this new feature, head over to the AirDNA blog.

If you’re already an AirDNA user, you can use this feature by logging into MarketMinder and clicking on My Properties on the left-hand side. From there, simply follow on the on-screen prompts.

Happy hosting!

Will you be checking out this new feature?

Leave a comment!

About Author

Mark Saldaña

7 Comments

  1. Caren E.

    Homeaway has this. It usually advises lowering your price, but I caution that lowering price and stay length can bring an undesirable renter. This happened to me twice when I reduced the required length of stay to two days.
    I no longer accept rentals for less than three days and am cautious about rate lowering. If also post “ no large groups of singles.”

  2. Michael Baum

    I agree. So far the system has told me to lower my rate to well under the average and start doing single night rentals. I rent a whole house so this is just not the way to go.

    As Caren said, we do the 3 day minimum, look for families in particular and have a strict no-party house rule.

    So far, it has worked well. Now I suppose we would rent more days if we loosened up, but that just opens our home to damage and misuse.

  3. John Underwood

    Homeaway / VRBO, where I get 95% of my bookings has awesome analytics built in for free. I can look at average prices, occupancy rates and projected demand for up to 12 months out. Since Airbnb is not that popular in my area I just use the comprehensive data from VRBO / HA to adjusts pricing on both platforms.

    • Nick Mehl

      John, may I ask what area you are in? How did you determine which is more popular – Airbnb or HomeAway? I just purchased a property in Western North Carolina and am about to embark on short term renting. I want to maximize returns without inviting unwanted renters.

  4. Michelle Massa

    @Bigger Pockets, I’m a little annoyed that the lead story in your newsletter (this one) is little more than an advertising spot for your partners. If you’re going to disguise advertising as content, as least put a banner around it alerting your readers. I personally view this as a violation of your reader’s trust. While I’m on the topic, the BP podcasts are so much about self-promotion that it’s hard to find the meaty content (Where’s the beef?). This week’s podcast took at least 10 minutes to get into it, and even then Brandon Turner is just talking about himself most of the time. I wish it wasn’t the case, but the podcasts and now the newsletter content is not delivering on the value prop for me – I find it just too annoying and self-promoting. Sorry. I think you need better editorial oversight, as I see posts with grammatical errors and just plain click-baity headlines to stir up controversy. Not what I come here for.

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