How Much Could Your Property Earn If You Rented It Through Airbnb?
Have you considered how much your property might earn, if you rented it through Airbnb?
Launching in 2008, Airbnb operates an online marketplace for short-term rentals. In this short time frame, the popularity of short-term rentals - finding a home away from home has grown exponentially. Now, Airbnb is home to over 4.5 million listings in 191 countries and over 65,000 cities!
We’re excited to partner with an Airbnb data & insights company, AirDNA. Together with AirDNA, we are bringing to the Australian property market the first automated valuation model for short-term rentals.
Known as Rentalizer, the Airbnb Automated Valuation Model has been fine tuned with access to the 4.5 million listings globally on Airbnb. The model uses market characteristics, property features and comparable properties to accurately predict what a property can earn as a holiday rental.
Example Airbnb Rental Estimate
AirDNA has spent the last three years helping real estate investors around the world understand what makes the market tick in their area and how to reap the highest return on their listing in the wildly popular sharing economy.
By collecting and analyzing the last three years’ worth of booking data, AirDNA can monitor how much hosts are earning from their properties listed on Airbnb. Through this volume of rentals, they’ve seen regular apartments and houses making spectacular incomes of tens of thousands of dollars per year.
AirDNA Rentalizer is integrated into onthehouse, so you can go and find the estimated holiday rental income by searching any property on onthehouse.com.au. You’ll find the link to Rentalizer under the Property History section on the Property Report page. Click on the button “How much could I earn” to get your Airbnb rental estimate.
According to Airdna, investors looking to buy a property to rent on Airbnb often think that purchasing a property close to home is the most sensible decision – you know the market, it’s easy to get to, you have friends that are making a little spare cash renting out their place.
Yet on the contrary, they believe that purchasing a property far from where you live forces you to make your investment a passive one, and will give you significantly higher returns as you have the whole nation to pick from to get the best returns.
If you’re unable to manage the Airbnb Rental yourself, there are a number of options available in Australia. Have a look on Google, and consider the pricing of having a short term property manager and the costs associated. You will be pleasantly surprised.
Why not use Airbnb data & insights to succeed in the sharing economy for your investment property?