US: Airdna has launched Investment Explorer, a web app aimed at showing investors the most profitable locations for rental properties.
The app combines more than 100,000 properties rented on Airbnb
with home value data to identify the most profitable short-term
rental investment locations in the US. Investors can also view
individual Airbnb listing revenue, occupancy and nightly rates on a
map to learn what specific locations and types of properties are
performing the best.
"With short-term rental investments significantly outperforming long term rentals, the number of people contacting us for advice on where to purchase vacation rental property is increasing rapidly," said Scott Shatford, CEO of Airdna. "By developing this app, we're able to address this need at scale and make it accessible to everyone from the small individual investor to institutional real estate companies building a portfolio in this emerging industry."
The Investor Explorer uses proprietary algorithms to calculate how much any property listed on Airbnb is earning across all vacation rental platforms. Then, using seasonality of the local market, it determines the full year revenue projections for properties that have been rented for as little as sixty days in the past year.
The analysis covers 10,000 cities and 22,000 postal codes to determine where home values are undervalued based on what they are able to earn on the short-term rental market. The information is presented through an interactive dashboard that allows users to analyse the size, location, and types of properties that are performing the best.
"Airdna's Investor Explorer was a perfect match for what I was looking for. It told me exactly where to buy my next investment," said David Malka, owner of several properties in Las Vegas, who used the Investor Explorer before deciding to expand his short-term rental business into Nashville where he purchased two properties last May. Those properties generated $140,000 in revenue for him in their first year.
Airdna's Investment Explorer tool is available US-wide or per state on a monthly subscription basis.
A free demo is available here.
In September 2016, Rented.com published its own data on US rental investment
Airdna's Scott Shatford will be a speaker at the 2017 Serviced Apartment Summit Americas in New York on April 10 and 11.