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If you are looking for a proven strategy to increase your success an Airbnb host, Mashvisor might be the solution you are looking for.
What is Mashvisor?….How Does Mashvisor Work?
Essentially, it is a data-driven, analytical platform that helps investors and those interested in owning an Airbnb home determine whether or not a property is a good investment. This platform works especially well for those who are new to Airbnb hosting but can also prove helpful for those who are more experienced.
Mashvisor has gotten the attention of many big names such as Forbes, U.S. News, Vice News, The Wall Street Journal, and TechCrunch. Currently, it has a user base of real estate investors, brokers, and agents, as well as Airbnb hosts and property managers.
How Does Mashvisor Work?
Mashvisor is extremely strategic in the way it gathers data and compiles them into reports. It pulls data from many trusted real estate and rental websites, such as Auction.com, HomeAway, Zillow, Walk Score, Realtor.com, Hotpads, and even Airbnb. It even takes an extra step and pulls data from public records, including rentals in the area that are bank-owned or have been foreclosed.
Take a look at Mashvisor’s Pricing Plans HERE >>
The data pulled into the cohesive, easy to follow reports (the page layout is fairly similar to sites like Zillow and Apartments.com), so even if you are new to the platform, you will still be able to use it with ease.
Mashvisor also provides multiple ways to search, such as a traditional search bar that shows properties on a regular map, and a heatmap that lets you search by key features and organize the data in the same way as the traditional search bar.
So, what data is pulled into the reports? First, it pulls the essential, front-facing data: current listing prices, addresses, rental availability, number of bedrooms and bathrooms, property type (if it is a studio apartment vs. a three-bedroom garden home with a backyard), and occupancy rates.
Next, it provides a more in-depth analysis of the property. It provides an analysis of the cash on cash returns and the cap rates and then goes a step further to divide that data into two categories: a traditional rental or a rental already used as an Airbnb.
You can check out all of our Recommended Airbnb Tools HERE >>
You can also see an overall comp of the area and see what others are making off of properties nearest and most similar to yours. Data is pulled on a 10 months basis and is analyzed first on an individual property basis, then analyzed as an entire neighborhood summary.
Even though data is analyzed by 10-month increments, data on the platform is updated once a month, and MLS (multiple listing service) listings are updated daily. Algorithms are tested frequently to ensure accuracy with current market trends and rental rates.
Key Features of Mashvisor
One of Mashvisor’s greatest features is that you can view different rental comps, markets, and neighborhood analyses.
For example, if you are still unsure about a particular property, you can use the Neighborhood Analysis feature to gain insight into any given area. The “Mashmeter” rates the neighborhood by whether or not it is a good place to invest. Again, Mashvisor gets into the fine details, so you can see details on pricing such as the average price per square footage, a ratio on which properties are for sale or rent, and which properties are traditional rentals vs Airbnb rentals.
The Rent Analysis feature lets you see the history of rental income for all properties listed in a neighborhood. It even shows the rental history for a property in its time as an Airbnb rental.
The Insights feature gives users an optimal view for the neighborhood including property types and rental features. The best thing about this feature is that it gives you an optimal rental strategy over a given area or rental comp, so you can see if a property is going to bring in any revenue.
Mashvisor also pulls data from off-market properties, so you can be assured that the data is a complete analysis of the neighborhood. You can gain access to the property owner’s email, so you can get in contact with those owners if the opportunity presents itself.
This platform keeps up with market research and has reports available every year for major metropolitan areas. Reports provide insight on property values and the economic state of the area. This can further help you value your property or be a good source of knowledge to those who are new to the industry or those looking to expand their knowledge.
You can also get access to their General Guides page, which has resources on various topics in real estate investment, real estate guides, Mashvisor tutorials, and real estate blogs from multiple cities. You can also get access to expert advice, no matter how expansive your knowledge of real estate investment is.
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Why is this Data Important?
This type of data is crucial to Airbnb hosts. Being able to see the data in a well-organized report can help you determine what is in high demand if you are just starting out or helping you value rentals you already own. This information will help guide your decisions to ensure you invest in not only the most profitable property but also the one that is right for you.
Knowing this data can also help you stay on top of trends in the market. The data pulled on Mashvisor is based on current market trends, but also on past trends, so it makes predictions about where the market in any given area, or an individual property, is going in the future. Being prepared with this knowledge can be the difference you need to increase your success.
Check Out This Rental Recon Article: Airbnb Essentials: 75+ Items Every Host Should Have For Guests
How do I Know if Mashvisor is Right for Me?
Mashvisor is a great resource if you are looking to save time. It does all the research for you, going so far as to claim that you can consolidate three months of research into just 15 minutes by using their tools. There a few different options for pricing, so you can be assured there is a plan that will work for you.
Mashvisor has a flexible cancellation policy — you can cancel anytime by phone or email and can finish out the period in which you paid for.-Mashvisor
Each plan ranges from lite level to professional level, with more features available the higher level of membership you have. They have a flexible cancellation policy of canceling anytime by phone or email and can finish out the period in which you paid for. For example, if you cancel a month before the quarterly pay period ends, you can continue to use Mashvisor until the quarter is over.
As a prospecting Airbnb host, Mashvisor can guide you in the right direction when it comes to finding the best rental for you. It has expansive information on rents and neighborhood statistics, so you do not have to worry about getting overwhelmed with research or lost in a sea of data.
As a new Airbnb host, this platform can prove helpful when it comes to valuing your rental, and to set the appropriate pricing, which will ultimately keep you on par with the current market.
As an experienced Airbnb host, you more than likely have a good grasp on what your rental is worth (and if not, Mashvisor can help you determine that.) It will help you keep up with an ever-changing market. You can see current trends and where those trends are headed and make well thought out decisions on changes you make in your rental.
For example, if you notice on a comp that rentals with updated appliances charge more for rent, but do not bring in as much revenue as they are in other areas, you can make the sound decision that you may not need the newest appliances to increase your profit.
Ask yourself these questions to guide on you deciding if Mashvisor is the best fit for you.
- Will I be investing in any new rentals in the near future?
- Are you looking to expand into a new rental market?
- Are you looking to expand your presence in your current market?
- Do you need help identifying market trends?
- Are you looking to cut down on the amount of time spent researching neighborhood information for your Airbnb rental?
- Do you need help determining the value of your property, thus determining the amount to charge on your Airbnb?
- Do you need help figuring out how to improve your rental and bring in more revenue?
Of course, many factors go into the decision-making process, but these questions will help steer you in the right direction. To really get a feel for what it will be like to use Mashvisor in your current market, I highly encourage you to use the free trial instead of the demo features. With this, you will be able to make the best decision possible.