I’m struggling with calculating how to ensure that my property is going to make enough money to cover my costs and make some profit before I list it on Airbnb. I currently rent it out on a long term basis and am not sure if it will make the same amount of money or more on Airbnb….
There’s lots of airbnb management companies out there who will just send a basic figure; for example, you can charge £170 per night and you’ll get 80% occupancy. I am never satisfied with that kind of a response because the base price will vary depending on the month and the amount of people staying in the property.
In order to ensure that my property is going to make enough money before I list it I need to work out an estimate of how much income the property will make over the year, in order to do this I feel I need to calculate the base price for different periods in the year; for example the price will be very different in Jan than it will be in Aug, plus I need to calculate how much I will be charging if different people will be staying at my place as my property can sleep between 1 to 8 people, on top of this I need to figure out how often 8 people will stay vs how often 6 people will stay vs how often 5 people will stay etc, as the price will change each time.
I hope that makes sense?
I do not mind paying a company or an individual to work out an accurate estimate of how much I could make per year for my property if they show me a process of how they did it.
Or, perhaps I’m over complicating things?