60: Rookie Reply: How Do I Analyze Short-Term Rentals?

We’re asked a lot on how to analyze short-term rentals. Since short-term rentals have different expenses, rent estimates, and occupancy rates, running a short-term rental analysis may seem tricky at times. Both Ashley and Tony own short-term rentals and know the often overlooked costs of running a profitable getaway. If you’re still looking for the best way to analyze your short-term rental prospect, Ashley and Tony may offer some much needed guidance! Here are some suggestions: Understand your average nightly rate, occupancy rate, and annual expenses Use tools like AirDNA and Mashvisor  Use Tony’s short-term gross revenue formula  Try out the BiggerPockets Airbnb Calculator Know the permitting laws and fees of the area you’re looking into Add regular business expenses to your calculations (accountants, insurance, taxes, etc.) And more! If you want Ashley and Tony to answer a real estate question, you can post in the Real Estate Rookie Facebook Group! Or, call us at the Rookie Request Line (1-888-5-ROOKIE). Links from the Show Airbnb MLS Amazon theyoungretireeby33  Check the full show notes here: https://www.biggerpockets.com/rookie60 Learn more about your ad choices. Visit megaphone.fm/adchoices