I am currently using this to help me pick a location to Airbnb. Anyone have opinions?
Never heard of it. How did you come across it?
What location did it suggest and why?
I’m not sure where I heard about it. I’m doing a lot of research on here, youtube, reddit, and biggerpockets.
You type in an address and it shows how much revenue it will generate. You can choose entire place/private room and how many beds. It is totally free. I’ve heard Airdna is sort of inaccurate. I’m wondering about how accurate this tool is though.
I saw some other people discussing it in some Airbnb forum (maybe on reddit) and they debated its veracity. That’s all I know.
You mean it tells you an estimate of how much listings in similar locations average? There is no way for it to know how much revenue you will generate because there are too many variables. For example if you don’t keep the place 5 star clean you’ll get suspended from the site after a short while because of the requirement that everyone average 4.7 star ratings.
I’ve only read good things about Airdna but I haven’t used it.
You are shopping to buy a property? I would think property values and the market in your city would be much more important considerations.
I entered the address of where my ABB is located (major city in the NE) and where I live (major city in the S/SW). The estimate was higher than I’d ever charge but in line with summer market rates for location 1. It was completely off base for location 2 by around 2.5x. Maybe there are certain cities where data are more reliable.
The apartment next to one of our rentals is almost twice as much but only spasmodically rented. In the building next door is an Airbnb that is priced at about one third of ours. These three are located within yards of each other. So as @KKC says, there are many other variables.