Airbnb calculator called Airbnb Markeminder

[Keleisha Carter]

I recently found out about this new calculator. Has anyone heard of it? Thoughts? Any recommendations on what to use to run the numbers for Airbnb rentals

[Michael Baum]

Hi @Keleisha Carter! Like I said, I never use the calculators. I will not pay for something that I can do myself and more accurately. I tried it once for free on AirDNA and I was underwhelmed by the performance of the algorithm. I had an email conversation with the CEO of AirDNA early on and he said they were always working to improve it to make it more accurate, but like any algorithm, the more data entered, the more accurate it will be.

Anyways, when I was figuring out my nightly rate, I started with simple things like number of bedrooms, bathrooms etc. Then I move on to amenities, locale, ease of access etc. Not every property will jive with yours, but you have to just get close.

Our place is focused on families. It is not a place for partying. We do get multiple couples who ride the bike trail, but otherwise always families both large and extended. We are setup that way and we do allow dogs which is a bonus for most guests.

As for the cleaning fee, I just chose a rate that wouldn't be exorbitant and covered my costs. So far so good. We charge $225 for cleaning our 3 bedroom, 3 bath with kids bunkroom place at 2700sqft. It usually costs us anywhere from $180 to $215 to get it done.

What I can see is just drill down on the property you are interested in. Compare it to everything out there then narrow it down. Make sure you have a good cleaner and handy person lined up to cover you and be your boots on the ground. Make sure you can actually do a STR in the area you like. The larger the municipality, the more likely you will have to deal with regs and outright bans. Some areas are more measured in response to complaints so make sure you do your homework.