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Updated about 3 years ago,
Short Term Rental Market Research
Good afternoon BP fam, I'm starting to consider Short term rentals as an investment vehicle for myself and was wondering what is the best way to determine the reservation amounts for an area? Like lets say I want to buy a condo in Miami, or wherever it may be and rent it out on Airbnb, what is the best method of research to know how much it can be rented out for? Do I use comps on other similar properties listed on Airbnb for rent? Does Airbnb provide any resources for hosts to come up with competitive but profitable prices? Is there anything I can do to research possible areas that would work? Basically where should I start?
Thanks in advance for any input!