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Updated almost 2 years ago,
Feedback on my analysis approach + 2 questions
Here is my process for analyzing an STR property:
1. Use the average ADR & Occupancy on Rabbu (FREE)
2. Use the ADR & Occupancy on Awning (FREE)
3. Find comps on AirBnB and get their total before taxes (inc. fees & cleaning) rate for 1 week and 1 weekend in Fall, Winter, Spring, and Summer (FREE)
4. {If really interested} Use the ADR & Occupancy on AirDNA (PAID)
5. Combine/Average all of these to land on an ADR and Occupancy rate that seem to make sense for analysis.
2 questions on this method:
1. Any general feedback? What am I missing and/or could do better?
2. Rabbu & Awning (I think) don't include fees (AirBnB, cleaning) but AirDNA does which makes it hard to compare them. How have others handled this?