Airbnb Rental Price Calculator: How Much Should Airbnb Hosts Charge?
It’s hard to know how much to charge when you rent out your apartment on Airbnb. You don’t want to scare anyone off by charging an extravagant nightly fee, but you’d still like to recoup some kind of payment for letting a stranger sleep in your bed.
Well, that mental rigamarole can be put to rest by this incredibly useful Airbnb rent calculator called the Estimator Eliot & Me. By using an algorithm to sort through a variety of factors, such as weather, time of year, and prices historically charged on Airbnb in your neighborhood, the tool ultimately does all the work for you. To use it, you’ll need to provide a few essential details, such as your address, the number of bedrooms and bathrooms in your apartment, and the number of people your listing can comfortably accommodate. Then the AI platform invokes a number for the daily and weekly rates.
Here’s an example using my two-bedroom apartment in Brooklyn that could sleep four people. (It’s not on the market, so please don’t show up at my door).
Since it’s a rather sophisticated sorting tool, the calculator helps you understand when Airbnb rentals are peaking in your neighborhood. Again, here’s an overview of my situation:
You can even get a taste of the local market by comparing other apartments in your area.
While renting your place on Airbnb is definitely a luxury, the anxiety of potentially charging the wrong rate is a worthwhile thing to consider delegating to a computer.
The Eliot & Me Calculator is great and all, but it’s unlikely to serve you so well if you’re renting a private island or a stately treehouse nestled in the woods outside of Atlanta. At this point, supply and demand pretty much go out the window.