If you’re looking for your next short-term rental investment, there’s a new AirDNA tool at your disposal.
The short-term rental analytics platform has been on a roll lately, releasing several new features that should be valuable to real estate investors. Who is the greatest among them?Ann STR-specific MLS searchthe tool allows you to browse MLS listings nationwide with short-term rental possibilities in mind.
you Looking for new STR investment?Here’s what you need to know about AirDNA’s new features.?
Search for properties with short-term rental potential
AIrDNA’s new search tool essentially takes an MLS listing and gives it an STR slant. Browse listings across AirDNA trucks in 99 markets, from coastal spots like San Juan, Puerto Rico and Bradenton Beach, Florida, to big cities, popular suburbs, and mountain towns.
Within each city, you can view properties for sale that AirDNA has flagged as potential short-term rental investments. For each of these properties, you can see statistics such as expected revenue, occupancy, and the estimated daily amount you can charge for the home.
You can also view graphs that track expected returns for the next year and compare your property to other similar short-term rentals in the area. There’s also a heatmap that lets you view properties in relation to other STRs in the area, giving you an idea of how saturated the market is in a particular area. They can also help you determine if the property is a viable option by considering local ordinances.
“Seeing properties for sale mapped to known STRs is especially useful in locations such as: rules A certain distance is required between short-term rentals,” AirDNA said in a press release. “If you have a valid STR near the property you are evaluating, you will know that the property is not a viable investment before you have spent any valuable time doing due diligence. Worse, if you have a valid STR near the property you are evaluating, you will know that the property is not a viable investment. Sometimes people end up buying a house before they realize they can’t use it as real estate.”
Each property also includes basic MLS data, including details such as square footage, number of bedrooms/bathrooms, and number of days the home has been on the market.
There will be a cost
Unfortunately, AirDNA’s new tools aren’t free. Free users can view listings, but if you want to see STR-specific statistics like estimated revenue, occupancy, daily rates, and comparisons to other properties, you’ll need to upgrade to a higher level of membership. They range from $15 to $1,199 per month, depending on the features you want to access.
Also, keep in mind that AirDNA is not the only platform offering rental-related listings. Mashvisor likewise offers planned services ROI It supports both Airbnb and traditional rental models. There are also sites like Revnest and Vacasa that offer his STR properties for immediate purchase. You should compare all your options before deciding how to proceed with your investment.
Note by BiggerPockets: These are the opinions expressed by the author and do not necessarily represent the opinions of BiggerPockets.
