Which Price Tier is Your Property In? Meet AirDNA’s New Rates Tool

It may sound clichéd, but it couldn’t be any truer: Information is power when it comes to optimizing your vacation rental.

Think about it—why settle for searching random Airbnb listings when you can accurately measure your property against others with similar features and amenities? Why base business decisions on limited historical data when you have the option to benchmark as far back as 2017 to pre-COVID-19 times?

This is where we come in. Just as you’re dedicated to growing your short-term rental (STR) business, AirDNA is dedicated to meeting your needs at every step of your journey—which means constantly improving our tools and technologies.

MarketMinder’s new-and-improved Rates tool is designed to help you drill deeper than ever before to truly understand your listing, market, and competition.

Smarter Filters for More Accurate Insights

The sheer number of STRs hitting the market every day is staggering (up to 1.34 million unique U.S. listings as of May 2022), and the amenities they offer are more important than ever. Only measuring the number of bedrooms, occupancy rate, and property type can no longer capture the true nature of a listing—especially when it comes to competitive benchmarking or optimizing your average daily rates (ADR). Any STR owner or manager knows that today’s listings are much more nuanced than those simple, high-level filters may reveal. 

That’s why we introduced a whole new level of data filtering to our Rates tool.

You can now further customize your MarketMinder data—in addition to our existing filters of bedrooms, guest count, listing type, etc.—so it’s exactly what you need to build accurate business cases and compare your listings to the real competition.

We hope you take the new features for a spin yourself, but here’s a peek at a few of the most exciting new filtering capabilities:

Price Tiers

• Budget ($)
• Economy ($$)
• Midscale ($$$)
• Upscale ($$$$)
• Luxury ($$$$$)

Eliminate all ambiguity, and unlock a true understanding of your competition or investment potential based on the style and price point of any STR.

Real Estate Type

We’re taking “type of place” to the next level. 

Moving beyond Airbnb’s standard “Entire Place,” “Private Room,” and “Shared Room” options, you can now filter by the type of real estate in MarketMinder—B&B, Unique, Apt/Condo/Loft, and House/Villa. A home’s type adds to the character and appeal of the listing, and we believe it should be accounted for. 

It’s easier than ever to get a clearer picture and more nuanced insights by filtering for the exact real estate type you’re interested in.

Professionally Managed

Maybe you’re benchmarking against the competition and want a more accurate understanding of how STRs with a management style similar to your own perform? Or perhaps you’re considering partnering with a professional management group and want to see how well professionally managed homes do? Either way, this filter has unique insights that are particularly helpful in today’s STR world.

Number of Bathrooms

Anyone who has ever stayed in a vacation rental knows that the number of bathrooms is just as important as the number of bedrooms. It’s also a key factor in real estate in general—a property with three beds and one bath is vastly different from one with three beds and three baths. That’s why we added a Number of Bathrooms filter to complement the existing Number of Bedrooms filter.

Ratings

We know you work hard for your STR rating, so see how it pays off by comparing rates data like ADR and booking trends based on specific star rating ranges. On the investment side, this filter shows you how ratings impact overall rates within your market. In other words—does that 5.0 rating really matter? The data has the answer.

Compare Pre-, During, and Post-Pandemic Trends

As we appear to ease out of the worst days of the COVID-19 pandemic, the lingering question for STR owners and managers is, “What’s the new normal?” Are trends we saw during the height of the pandemic holding strong, or are demand, spending, and other travel habits returning to so-called pre-COVID levels? Or are things somewhere in between? As of today, MarketMinder makes it easier to answer those questions by providing an industry-best five years of historical data.

Having access to accurate historical data that includes pre-pandemic information is critical as hosts and managers balance their daily rates, anticipate occupancy trends, and make year-over-year business projections for their investments.

STRs have also exploded in popularity over the past few years, meaning year-over-year market trends themselves have changed, regardless of the pandemic. The ability to see these changes from a five-year perspective shows you how the market is changing and, most importantly, how those changes may affect you and your business.