Calcualating Rental Income from STR’s

[Evan O'Brien]

When you're calculating the potential rental income for a STR property is there a specific approach to take? Recently I've tried estimating daily rates to charge for STR's using the enemy method (estimating the daily rate for a potential property based on listings on air bnb for a property of the same size) and the multiplying the daily rate by the occupancy rate for that real estate market. If anyone has any other approaches or suggestions regarding how to calculate potential rental income for a STR that would be greatly appreciated!!