6 Things You Must Know to Maximize Your Airbnb Revenue

Dillon DuBois | August 11, 2020

 

Looking to maximize your Airbnb revenue? We’re here to help. Whether you’re an Airbnb host, property manager, or investor, use this step-by-step guide as a go-to strategy on how to Airbnb and making the most from your properties. Let’s jump in.

Find the Best Place to Buy a Vacation Rental

First up: figuring out where to invest in Airbnb. While alternative accommodations can be lucrative in one location, in others they make little to no sense. There is by no means a one-size-fits-all solution.

In order to find the best place to buy an Airbnb, or the places with the best Airbnb occupancy rate, start out by using two tools: Rentalizer and Market Comparison.

Rentalizer is the world’s easiest and most accurate vacation rental calculator. For anyone looking to buy a vacation rental or buy a second home, Rentalizer helps determine which property will help you reach your goals.

Enter any address, anywhere in the world, and Rentalizer provides projections on Average Daily Rate, Occupancy Rate, and Annual Revenue as a short-term rental. Rentalizer also provides shareable, downloadable reports to help streamline investment decision-making and maximize Airbnb revenue.

If you’re looking for a city or neighborhood-level analysis, hop into Market Comparison. As a powerful feature of the MarketMinder tool, Market Comparison provides a simple way to analyze up to four markets side-by-side. See which cities are most profitable, and how things like bedroom count and # of guests impact revenue.

Benchmark Your Property Against The Competition

Once you’ve found your market and your property, the next step is to research the competition. How are your most successful neighbors managing their properties and maximizing their Airbnb revenue? MarketMinder is jam-packed with ways to analyze the competition.

 

  • Use the map view to visualize the vacation rental landscape
  • Use the overview page to dive into metrics like active supply, amenities, cancellation policies, and minimum night stays.
  • Navigate to the top properties tab to see how the finest vacation rentals are priced and advertised.

Perfect Your Airbnb Pricing Strategy

Did you know you can add your Airbnb listings to MarketMinder to enable personalized, dynamic pricing recommendations? Dynamic pricing tools can help you maximize your revenue by recommending smarter strategies based on location, comps, and booking trends. Sync your listing to get started! 

Once you’ve uploaded your rentals to My Properties, navigate to the rate calendar to make sure your properties are priced according to upcoming demand. Factor in things like weekly and monthly discounts, as well as big-ticket events to make the most of your market.

Find the Best Airbnb Occupancy Rate

In the vacation rental industry, 100% occupancy does not mean it’s 100% optimized. In fact, if you’re completely booked months into the future, chances are you’re doing something wrong. Finding the occupancy rate sweet spot is the key to a sound property management strategy. 

For this, jump to MarketMinder’s Occupancy tab to see what you can expect. Analyze historical occupancy rates, as well as how demand growth has trended over the last three years. Next, flip to the Seasonality tab for a high-level view of which months make the most and least money. You can also hone in on booking lead time to see how far out guests tend to book travel.

Planning for the Future with Pacing

This year, it’s become clear that the past can only tell us so much about the future. That’s why we developed Pacing, a category of vacation rental analysis that helps show the future outlook with respect to the past. 

With the Booking Trends chart, users can see exactly which dates in the future are currently getting booked. Meanwhile, the Rate Analysis chart shows us — for 6 months into the future — the difference between how hosts are advertising their properties and the rate at which they’re actually getting booked. 

Check back for updates!

Lastly, it’s important to know that vacation rental markets can change in a heartbeat. Be sure to check these features frequently to make sure your listings are always positioned for success. Good luck!

 

Ready to Maximize your Airbnb Revenue? Find Your City in MarketMinder

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