Think you have to be a mogul to invest in real estate? Wrong! Those days are long gone, and practically anyone with some spare cash can get in on this new trend in real estate. This is thanks in part to the growing short term rental market that allows people to cash in on something they already might own: their home!
Looking to buy a home specifically for rental purposes as well? We’ve got you covered too. A great tool called AirDNA has helped tons of people unlock their real estate earning potential, and it’s so easy anyone can do it!
Our AirDNA Review: Is This the Best Short-Term Rental Analytics Tool for Hosts?
Wondering how AirDNA measures up? Here are the ratings from our review.
- Excellent data mining strategy
- View property analytics
- Predict where to invest
- Works with Airbnb and VRBO
- Pricing by market size is less advantageous for larger markets
- Pricing automation not offered
Ready to learn more? I don’t blame you! Keep scrolling for more info on this top recommended company.
What is AirDNA?
AirDNA was one of the first tools of its kind. It helps Airbnb owners, hosts, and investors see how they stack up against the competition in their area. It is unique in that it lets you “spy” on your Airbnb neighbors (in a less creepy way, of course).
Essentially, AirDNA pulls data directly from Airbnb so you can see how other rentals in your area are performing relative to each other and, most importantly, to you. Wondering how the charming bungalow a few blocks away always seems to be booked up while you struggle to fill those last-minute vacancies? Now you can find out!
With AirDNA, you can check other listings’ occupancy rates, average nightly rates, revenue, and so much more. This is an essential tool for hosts and investors alike. They also offer a service called MarketMinder which is geared specifically towards real estate investors. This allows you to see where your money will work the hardest and where the short-term rental industry isn’t quite as lucrative.
AirDNA even has a feature where you can enter your own property’s address and see how much you would be predicted to make according to their smart software. This is pretty great and takes a lot of the guesswork out of owning a rental.
Whether you’re a host, investor, property owner, or even business manager, it’s clear that AirDNA has something to offer you. The best part is that you can sign up FREE and immediately start making use of some of their (limited functionality) tools right away!
AirDNA Ratings: Where does it shine?
AirDNA has a very inclusive pricing scheme that ranges from free to, well, not very free at all. Their free plan offers basic functionality and limited insights and is great for someone looking to try out the product and see if it’s a fit for their needs. The “not free” plans (click here for updated pricing) range from affordable to somewhat pricey, and this is based on market size.
I don’t love when companies do this, as it seems to put hosts in larger markets at a distinct disadvantage. However, it’s understandable since larger markets mean more data processing and more work on behalf of AirDNA. For this reason, I give them an 8 out of 10 for price.
Want to know how Alltherooms, one of AirDNA’s biggest competitors, structures their plans? Click HERE to find out!
In spite of the tiered pricing plans, I still feel that AirDNA offers quite a bit of bang for your buck. As mentioned before, you get property-level analytics which give you a competitive edge like no other. It’s more work to find this data, and most companies don’t offer anything like it, which is what gives AirDNA the right to charge a bit more for it in my opinion. They get a 9.75 out of 10 for value.
If AirDNA’s analytics keep getting brought up, it’s because it’s critical that readers know just how special and unique they really are! I love these features, but they’re not all that AirDNA has to offer. Their MarketMinder program allows investors to look at markets across the globe to help them decide where they should invest. They also offer historical performance trends as well as future predictions. I think they deserve a 9 out of 10 for features.
Customers love AirDNA, which should come as no surprise. They also have great customer service and offer phone, email, and chat support which I like to see. Nothing is more frustrating than not being able to reach a real person when you really need help! I give them a 9 out of 10 for customer impressions, bringing them to an overall score of 8.9 out of 10.
Rental Recon Tip: Already part of the AirDNA family or planning to join soon? Want to make some extra cash while you’re at it? Join the AirDNA affiliate program! It’s easy to sign up and you can earn money for sharing your link with fellow real-estate minded friends.
AirDNA Pros and Cons: Benefits outweigh the risks
AirDNA has some excellent features which we’ve discussed in detail above. They have a few drawbacks as well, but those are more than outweighed by the stellar performance of AirDNA.
For starters, AirDNA has an excellent data mining strategy that draws directly from Airbnb (or VRBO, if you choose to integrate with them as well). This means your information will be the most up-to-date available and it will always be accurate. We all know it can be tricky to know what finetuned strategy will bring you in the most bookings, so having reliable information on hand at all times is critical.
Their property-level analytics set them ahead of their competition and make it easy for investors to do a “dry run” across several markets to see where they’ll be most successful. Since they work with both Airbnb and VRBO you can maximize your revenue even more by cross listing your rentals on multiple sites as well.
On the cons side, it is a shame that the price increases so much in larger markets. It’s also harder to be competitive in larger markets, so smaller hosts looking to get ahead in a cutthroat environment are going to be paying significantly more for the ability to do so.
One feature I would love to see from AirDNA soon is automated pricing. This is offered by tons of other “smart” Airbnb tools, so hopefully it’s just a matter of time before AirDNA hops on the bandwagon as well.
Wondering if AirDNA will be worth it for you? Check out my detailed overview HERE!
Check Out Our Other Articles on Rental Recon:
- Best Airbnb Insurance Providers In 2023: Our Top 5 Options For Hosts
- Here’s How to Compare Short-Term Rental Insurance Quotes
- How To Get a Proper Insurance Quote: Here’s What to Prepare
Is AirDNA right for me?
We at Rental Recon truly believe that there is an AirDNA plan out there for everyone. They offer a wide variety of pricing options and even allow you to sign up for FREE to test out some of their product’s great features.
AirDNA is definitely for you if you’re looking to invest in the short-term rental market. You can get a sneak preview of any market practically anywhere in the world, which is something that certainly cannot be said for any other competitors.
They are also a great tool for the average Airbnb host as they offer key analytics and insights that you won’t really find anywhere else. Their plans are very affordable, as we’ve mentioned, although the prices do increase significantly with market size. If you’re a smaller host just looking to get started with some basic information on your competition, the free plan might be the way to go for now.
You are also able to cancel your AirDNA plan at any time, hassle-free, so there’s very little risk to getting started. You aren’t locked in for the year (unless you want to take advantage of their low annual subscription rates), so it’s definitely worth a shot to see if it really helps your business.
Overall…
Overall, AirDNA is a very strong product that appeals to everyone in the short-term rental business, from property managers down to part-time hosts. We feel it’s a strong investment to make in your business and presents little to no up-front risk in getting started.
