It can be tricky optimizing your Airbnb in terms of cost, especially in today’s ever more competitive market. Guests will choose where to stay based on a variety of factors, and price is usually a top consideration. How can you ensure you’re pricing competitively and in a way that is sure to make you money as a host?
Pricing tools! As more and more people choose to make a side hustle or even full time living out of Airbnb, smart software has adapted to fill the needs of the growing community. AirDNA and Beyond Pricing are two services vying to corner the Airbnb host demographic.
AirDNA Vs. Beyond Pricing: How do they compare?
|Pros:||-Interactive map lets you visualize your competition|
-Better tools for large-scale property managers
-Incredibly accurate, real-time analytics
|-Automated pricing adjustments|
-Direct booking options
-Custom website builder
-Connects to property management systems
|Cons:||-Monthly fee rather than percentage-based|
-Prices based on market size, not individual users
-No automated pricing options
|-Implementation fee with Starter plan|
-Extra cost for syncing between different rental channels
-Different services offered separately, not bundled
|Overall:||Good for you if: you like more control over the details |
Not for you if: you’re not data-savvy
|Good for you if: you have a strategy in mind |
Not for you if: you want an all-in-one service
Curious about how these two measure up against each other? Follow along for Rental Recon’s detailed review!
AirDNA Overview: Powerful analytics
AirDNA is a powerful tool that provides real-time and historical analytics to short term rental property owners, property managers, and even tourism boards across the globe. You can compare your property to others in the area with an interactive map (think Zillow) to see how your competition is stacking up.
AirDNA is very numbers-heavy and data driven. If that’s your thing, great! If not, you may not be able to fully utilize all of the information offered for the price.
Unlike Beyond Pricing, AirDNA charges a monthly fee that varies based on the number of active listings in your market’s area. In many ways this makes sense, since AirDNA has to do more data analysis in a larger market than in a smaller one.
However, from a consumer perspective it can seem like you’re being charged a bit unfairly just for living in a certain area. The price may or may not make financial sense based on the value of your property and how invested you are in your Airbnb business.
AirDNA Features: What sets it apart?
AirDNA’s most popular feature is Market Minder, its interactive pricing map that lets you “spy” on your competition in real time. You can see things like daily rates, occupancy levels, revenue, and where active listings are located.
AirDNA also offers services that cater more to larger scale managers or investors. One of these is its Investment Explorer, which helps investors “uncover the most profitable US cities” according to their website. This is a great for those looking to build their real estate empire with customized trend reports, investment strategies, and more!
Want to learn more? Check out how AirDNA stacks up against another competitor, Mashvisor, here!
AirDNA Pros: Why it’s right for you
AirDNA’s interactive data map is not only fun to use, it’s incredibly useful and updates constantly to give you the most current information on your competition. You can see where they are, what they’re charging, and how well they’re doing in comparison to others.
Their tools for property managers and investors are in a league of their own, with pretty much all the information you could hope for to guide your investment strategy. Boasting clients like McKinsey and CBRE, AirDNA pulls both rental data from Airbnb and sales data from Zillow to give you the best chance of success.
AirDNA Cons: Worth the hype?
The fact that AirDNA charges a monthly fee instead of a percentage-based rate like Beyond Pricing might deter smaller Airbnb owner/operators from trying it out. The fees aren’t terribly high (check them out by clicking the button below!), but some might be more comfortable with a lower-risk option.
Also, pricing based on market size versus user… umm… use(?) seems a bit strange. It makes sense from AirDNA’s end of things, but it’s easy to see why potential users might feel it is unfair. It also doesn’t offer automated pricing, so you’ll need to be a lot more hands-on.
Overall, AirDNA is an incredibly powerful data driven tool designed to help out serious Airbnb operators and larger real estate investors. It might be too numbers-heavy for some more casual users, but those who can harness the power of its analytics are sure to see a huge increase in revenue.
Rental Recon Tip: Looking for a more cost-effective way to see how you stack up against the competition? Many of these services offer free trials to new users! Be sure to shop around and see whose interface and features you like best. If you don’t want to use a program, you can do your own digging into the local rental market to see what people charge and how successfully they’re running their rental.
Beyond Pricing Overview: Groundbreaking rental pricing automation
Beyond Pricing offers a similar service to AirDNA: pricing help for your short term rental based on market data. However, they offer a unique automatic pricing tool which will move your rates daily to keep you on top of the game. This is called Dynamic Pricing, and is one of the many (separate) services offered by Beyond Pricing.
Beyond Pricing Cost
Click here NOW to see how much Beyond Pricing will be for your Airbnb needs!
Beyond Pricing charges a percentage fee of each booking (similar to a commission) instead of a monthly fee like AirDNA. This makes it a much lower risk option, especially for those who don’t do a huge amount of bookings. In a sense, the service is supposed to pay for itself in how much more competitive and insightful it helps hosts to be.
Check Out Our Other Articles on Rental Recon:
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- Airbnb Damage and No Security Deposit? : Here’s What You Do…
- Airbnb Damage More than Deposit : Next Steps for Your Vacation Rental
- Airbnb Damage to Apartment : How to Protect Your Vacation Rental
- Airbnb Damage to Furniture : How to Protect Your Vacation Rental
Beyond Pricing Features (Is it for you?)
Beyond Pricing helps you sync listing prices and analytics across several rental platforms like Airbnb, HomeAway/VRBO, and Booking.com with their Dynamic Pricing and Relay tools. You can even have different rates on different sites to fine tune your competitive edge.
Beyond also connects with property management software so that you can have all of your rental data in one easy-to-access place. No need to start over from scratch!
They also offer Signal, which gives users a way to directly book with guests and a custom website builder, thus eliminating the need to use a third party like Airbnb. Their Insights feature gives you performance data for your entire real estate portfolio all in one place, and Projections will help you plan for pricing trends in the future.
The Guidance tool is offered for real estate professionals looking to get serious with their investing by giving users advice from the best local market experts.
Beyond Pricing Pros: What makes it great
The automated pricing adjustments, custom booking website, and tons of custom analytics options make Beyond Pricing great for someone who knows what they want and who just needs to tools to realize their dream. These tools work together to help you see the big picture, and keep your mind off of little details like manual price adjustments or last-minute booking deals.
Beyond Pricing Cons: Major downfalls?
The real con to Beyond Pricing is that each of their features comes at a separate (and not entirely transparent) cost to the user. This enables you to build your own plan, but not fully utilize everything they offer without paying a lot more out of pocket.
Beyond Pricing Summary
I would recommend Beyond Pricing to someone who has a vision for the direction of their Airbnb or short term rental and is ready to let software finish the rest. It’s great for the less-detail oriented, more big picture users. If you only want to use it for price automation, you can also do that for a pretty reasonable fee.
Both AirDNA and Beyond Pricing offer a slew of incredibly useful services to the growth-minded short term rental owner. AirDNA has slightly better tools for investors, in my opinion, and is more well suited to property managers than individual owner/operators.
Beyond Pricing is a good option for those looking to make less of an up-front investment and anyone who wants to pick and choose their features as needed. Overall, you can’t go wrong with either service!