Bidroom
This website’s main purpose is to help people save money by allowing them to receive discounts on hotels in the area they are looking to stay. The way this works is that they search their database, which consists of more than 120,000 hotels and apartments, for the lowest-priced booking available and then work to get an additional discount on that price. The company guarantees that those who use their services will receive a discount from anywhere between 5% and 25%. Unlike many other sites, Bidroom does not collect a commission fee from the hotel so they are able to give you a better price on your booking without losing a considerable amount of profit. They also do not charge you to make a booking so you are only paying for the final price of your rental. When it comes to paying for your hotel reservation, there are many currency options which you are permitted to use including the USD, Euro, Swiss Franc, and Russian Ruble. When searching for a listing on their site you are able to also make important specifications to ensure that it will suit your needs. They offer a wide range of special filters on their search platform that allows you to request certain amenities, such as a listing with a swimming pool. There is also a text option that gives you the opportunity to send special requests to your hotel, such as wanting a bottle of champagne delivered to your room, who will then read it over before making the final config
Beyond Pricing
Beyond pricing is a uniquely designed pricing tool created with the sole purpose of allowing you to receive the best profits from your rental listing. They allow you to link any number of Airbnb accounts to their program. Their program will then find the best prices for your property based on a number of key factors. Some of these factors include where your listing is located, seasonality, and local demand. Once they have both the recommended and minimum price determined for your listing you can enable automated pricing, an element of the program which allows you to have your prices constantly kept up to date. This can be very beneficial because you can always be certain that you are not charging your guests too much or too little as things fluctuate throughout the year. There is an available demo listed on their website which will allow you to preview both example listings’ recommended prices as well as your own listing’s, and it will even show you how you can expect those prices to change throughout the year. This information is shown to you in a variety of useful forms including an informative calendar and line graph, so you can better understand how and why these price changes.
EverBooked
This site is comprised of various tools designed to help you be as profitable as possible while maintaining a fair average nightly cost. One such tool is their comparison tool which allows you to see how your profits earned monthly, annually, and weekly compare to competitors within your area. It also shows you what they charge for various services such as cleaning fees so you can fully understand what price range to stay within when ensuring that your listing is profitable but also listed at a fair price. It also will allow you to more easily view your competitor’s ratings in order to more easily understand what the other listings in your area are like. This can be a particularly beneficial tool because it will help you understand what it is about these listings that customers like and what can be done to improve your own listing. Another aspect of their program is the average occupancy rate which will show you how much demand there is for short-term rental in your area. Their services are available only in the United States and more specifically in 3,940 cities, the majority of which are largely populated cities such as Seattle, Austin, and Orlando. They also offer Airbnb market reports which act as viewpoints into what changes are being made to short-term rental throughout the United States and how these changes can be expected to progress. These reports allow you to search in any area of the United States to see how various elements such as cleaning fees, occupancy time, and average nightly price fluctuate depending on both area and the time of year.
AirDNA
This website comprises three unique tools designed to make things easier to understand when it comes to profit. Their first tool is called the Market Minder and it is best used to help you view various rental markets throughout the world. This works by allowing you to view the rental activity in over 60,000 different cities so you can see which areas are the most profitable. You can also see upcoming events in the area and how they are affecting the price of local listings so you know which price ranges are more temporary. Their second tool is their Investment Explorer. This tool uses scatter plots of various areas to show you how occupancy rates fluctuate by using multi-colored dots where red is a low occupancy area and green is a high occupancy area. With this tool, you are able to see locations of up to 75,000 different listings and see a link attached to each listing that will provide you with more detailed information about it. Meaning that you can see which listings are the most profitable in different areas. The final tool which they have to offer is the Realizer, This is a search tool with three prime filters: number of bedrooms, the number of bathrooms, and how many people the property is able to accommodate. Using the information put into these fields the tool finds locations in the same area, with the same specifications, and calculates how much you should be charging for your property based on this information.
InsideAirbnb
This website has a unique way of using its data to help those understand how short-term rental affects their neighborhoods. A key element of this tool that aids with this discovery is The Occupancy Model. The purpose of this model is to allow people to view listings in a way that will show them whether a listing is being rented out continuously, similar to a hotel, or only occasionally when the owners do not have a use for it. Occupancy rate determines this number and they find this calculation by multiplying the average length of stay and estimated bookings. It is important to note that in their model the occupancy rate has a limit which is capped at 70%. This can be a valuable tool when exploring the listings in your area because it also is able to show you how often a listing is being rented out, so you can determine who your biggest competitors are. You may also choose to narrow down your searches as well by using various filters such as their “highly available” or “recently booked” filters, to ensure that you are getting updated information about the listings near you. Their tools can also be used to show how the number of available listings in your area has impacted the housing, as well as help you get a general idea about the short-term rental laws in your city. Their services are available worldwide so there are many different countries in which you are able to use this tool including the United States, Portugal, UK, and Austria.
Mashvisor
Mashvisor uses a tool that thoroughly analyzes various pieces of data to help you develop a rental strategy so that your profits are consistent, and your business thriving. Having a rental strategy has the purpose of allowing you to understand the potential income for listings in your city. This will prevent you from undercutting yourself when setting your prices and changing them as the rental situation changes throughout the year. There are multiple choices on this site ranked by experience from first-time investors to real estate brokers so you can find what you need no matter how much, or little, the amount of information you have going into this. They also offer a traditional analysis tool designed to help you make investment decisions that will be the most profitable. You can also fine tune your analysis results by editing the cost assumptions element of this tool. They also work to help you decide on the optimal market for your listing. This is done by finding which surrounding neighborhoods are the highest performing, allowing you to have confidence that your chosen location is well suited for what you hope to accomplish. Another option offered by this company is a property value tool. This tool helps explain in great detail the different aspects of your property’s value so you can determine your return on investment. The information this tool provides you with is also given to you in easy-to-understand visualizations so that you can fully comprehend what it is it’s telling you.
