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2021-03-18 00:09
How do I estimate the revenue a new rental would generate? I have a good understanding of my expenses, but I need to estimate my income to understand profits.
2021-03-18 11:20
Tony,
That is an excellent question. The two big problems with estimating revenue are: 1) estimating average daily price; 2) estimating occupancy. These values are hard to get. Looking at other Airbnb listing in a similar building or area does not really help. If fact, they only way I get daily price for my own listing is looking at the average the previous year. In the post, http://www.relaxingcondos.com/step-3/, I discuss how to use a tool called AirDNA to get a better estimate on these two items.
Thanks,
Jake
