The Best Way to Gain Access to Short Term Rental Data

In real estate investing, accuracy is vital. A wise investor knows the importance of short term rental data to make an accurate analysis.

Table of Contents 

1. What Is Short Term Rental Data and Why Is It Important?
2. Where Can I Access Short Term Rental Data?
3. What Short Term Rental Data Tools Does Mashvisor Offer?

Whether you are an experienced or a beginner investor, the best way to know if a location is investment-worthy or not is to look at its short term rental data. 

Any investor knows there is plenty of money to be made in the short term rental market. Following short term rental analytics will provide any investor with the necessary data needed to make a smart and profitable investment decision.

The best thing about 21st-century real estate investing is the various tools at your disposal. One such tool is the real estate platform Mashvisor. Countless investors are able to find the right investment properties, thanks to Mashvisor’s tools and massive database of the short term rental market.

This article will provide real estate investors with the tools and information needed to be updated on short term rental data. We will also discuss how Mashvisor can help you find the best deals on short term rental properties.

There are many different things to consider before investing in a short term rental property to make sure it is the best investment for you. Understanding the short term rental market data will help you expertly navigate the US housing market, leading to the best investment decisions.

Related: How to Do Your Own Airbnb Data Analysis in 6 Steps

What Is Short Term Rental Data and Why Is It Important?

To understand what short term rental data is, you first should know what defines a short term rental. 

A short term rental—or a vacation rental—is any property rented out to an individual for shorter periods. The duration is usually anywhere between one day to a few months, depending on the location. Anything beyond that is already considered a long-term rental.

Short term rentals are quite popular (and profitable) in places frequented by people traveling or on vacation. These travelers usually need a place to stay for the duration of their visit. Short term rentals, such as motels and Airbnb properties, provide them with an affordable alternative to expensive hotels and resorts.

Individuals who book short term rental properties usually pay by the night or week, depending on their travel itinerary. Short term rentals are typically priced by the night. However, some vacation rental owners give special rates for longer stays.

Defining Short Term Rental Data

Now we understand what a short term rental property is, we can discuss what short term rental data is. 

In simple terms, short term rental data basically consists of all the numbers and stats that give investors specific insights into potential rental properties. It may include information about how profitable the property is or how other rental properties perform within the same location.

All data from the short term rental analytics are analyzed and interpreted to give investors a clearer understanding of how profitable their potential short term rental property may be.

Related: Airbnb Data Analysis Is the Key to a Profitable Short Term Rental

The numbers are also crucial in predicting future trends in the housing market. Both past and current data are used to see how the market is expected to perform in the upcoming months or even years.

Why You Need to Have Access to Short Term Rental Data

Investors need short term rental data to ensure that their investment will be successful. After all, no investor gets into a venture with expecting to make money. If you’re a rental property investor who wants to start a vacation rental business, here are a few reasons why you need access to a platform or software that offers short term rental data: 

Maximize Your Rates

Short term rental data plays a major role in setting the right prices for a location. As a rental property owner, you want to make as much rental income as possible. However, you also don’t want to overprice that you’re not getting any bookings. 

This is where short term rental data comes in handy. Closely monitoring your competition and the market will allow you to set reasonable prices for your rentals. It will, in turn, increase your occupancy rate and align you with the current market trends. 

Access to such types of data will put you in a position to be more competitive in your market. Such an insight will let you make proactive adjustments to your rates, so you’re not left behind or overlooked because of very low or very high rates.

Optimize Your Occupancy

One of the ways short term data and analytics can help you is by helping you boost and optimize your occupancy rate. The vacation rental industry is highly dependent on seasonality. Of course, a lot of it has to do with the location, as each market has different offerings by way of tourist attractions and local seasonal events. 

As a rental property investor, having access to short term rental data analytics will allow you to make the necessary adjustments to your calendar based on seasonality. 

For instance, if historically, the neighborhood experiences a spike in occupancy during certain months, you may want to take advantage of it and increase your rates. On the other hand, if the data shows months with lower occupancy rates, you can lower your prices accordingly.

By taking into account the periodic data provided by a platform or software, you can easily understand the demand for short term rentals in your market. 

Developing Informed Strategies

When you consider the rental market data in your location, you can make better decisions and come up with more effective strategies to increase occupancy. 

Keeping track of certain metrics and comparing them to your actual output will help you identify your weak spots. Are your nightly rates too low compared to other similar properties? How was your occupancy rate last quarter versus other rentals? Awareness of the actual market conditions will let you evaluate your performance more objectively. 

As a rental property investor, you can rethink your strategy and develop new ones to help you boost your performance and, ultimately, your revenue. 

The overall goal of short-term rental market data is to help real estate investors make predictive and smart investment decisions. The data helps provide insight into locations where the need for short term rentals is growing and what types of properties are sought after. 

All short term rental analytics data are excellent indicators of which strategy a property will be at its most profitable. However, as a rental property investor, the quality of your data analytics will largely depend on which particular software or platform you get your data from. 

Where Can I Access Short Term Rental Data?

Although the idea of short term rental investments may sound easy enough, all the data and analytics needed to make a smart investment are a little more confusing. There is no need to try to search for the best short term rental market data by yourself. There are many free platforms that offer services to help you find and sift through all of the data.

The above options may also cause some stress as you don’t know which one to choose. Looking for the best short term rental data platform can be quite challenging, considering the many options online. 

But if you want software that allows you to run accurate and relevant short term rental market data analysis that ensures a smart and profitable investment decision, you have Mashvisor.

Mashvisor is the best platform to find accurate short-term rental data and analytics. Even though other platforms may offer similar short term rental analytics, Mashvior’s tests are much more thorough than any other platform.

Mashvisor: The Best Way to Access Short Term Rental Data

Mashvisor runs predictive tests that give real estate investors like you a deeper insight into the short term rental market. The algorithms give accurate short term rental analytics data that helps real estate investors make smart investment decisions. 

All information generated from the short term rental analytics is presented to investors in a clear and easy-to-understand way. It helps investors see the information they are looking for in a matter of minutes.

Investment Property Calculator

Although all of the numbers may be overwhelming, Mashvisor’s investment property calculator is an excellent tool for guiding investors through their short term property search. The tool helps investors look at the potential cash flow and profits that an income property can generate. 

The investment property calculator uses current trends and data to help generate its short term rental property analysis. It also allows you to make accurate and realistic ROI projections since it uses data collected from highly reliable sources like Zillow, Realtor.com, and even Airbnb. 

As a software, the investment property calculator not only lets you run the mathematical equations for your data analysis but also points you in the direction of the best deals suitable for you.

Property Finder

If you are a real estate investor considering investing in short term rental properties, the Property Finder tool from Mashvisor is a great tool to help locate properties that fit your every want and need. 

Once you use the short-term rental data to discover a good location for your rental property, you can begin looking for a good investment property itself.

The Property Finder tool lets you search a specific location for certain properties that fit all the criteria you want. You simply put your preferences into the tool and let it do the rest. It saves you hours, so you don’t need to look through every individual property in your desired location. 

Some specific preferences you will need to put into the Property Finder are:

• Location preferences (you can add as many specific locations as you want so you can search multiple cities at once)
• Desired budget
• Property type
• Specific preferences of the property (number of bedrooms or bathrooms) 
• Rental strategy 

Whether you are an experienced investor or someone looking to get into the short term rental investing business, keep reading to get a better understanding of how to use Mashvisor’s platform to find the best short term rental data.

Related: The 10 Best Rental Websites for Real Estate Investors in 2022 

What Short Term Rental Data Tools Does Mashvisor Offer?

Mashvisor offers short term rental data tools that help investors obtain the relevant market-level and property-level information. The tools help you acquire highly accurate and realistic data analytics in your specific location.

Here are some ways Mashvisor helps real estate investors like you:

1. Real Estate Market Data

If you’re considering investing in a short term rental property, the first thing you need to figure out is what location you should look at to purchase a property. Selecting a profitable location is one of the most important factors when deciding where to invest. 

If you choose a location where the tourism industry isn’t performing as well, it is less likely people will be looking to book a short term rental and go there. 

Additionally, many popular cities impose their own rules and regulations on short term rental properties, such as Airbnb. You must do your research on the said cities to find out what the rules are. Invest only in locations where you are comfortable with the short term rental restrictions. 

Even though some locations may limit the use of vacation rentals, there are plenty of other options that you can find through Mashvisor. 

It is important as an investor to do a quick online search to make sure short term rentals are legal in the location you are thinking about purchasing a property. 

Mashvisor’s Real Estate Heatmap

Once you determine that short term rentals are allowed in your desired location, it is time to review some of the data to ensure that the property will be profitable. Some specifics you will need to look at are:

• Monthly income for the rental property
• Average occupancy rate
• Median listing price
• Average cash on cash return

To find the short term rental market data occupancy, you should look at Mashvisor’s real estate heatmap. The heatmap tool is a great tool for investors to see specific neighborhoods or locations in general and zero in on more profitable areas to invest in. It shows investors the most affordable areas to purchase a property, as well as those with the highest rental incomes.

Additionally, Mashvisor’s real estate heatmap provides an area’s average cash on cash return and average occupancy rate. It is the best short-term rental analytics tool for investors to conduct a neighborhood analysis and find profitable locations for a short term rental property.

Try out the heatmap for yourself here.

2. Property Level Short Term Rental Data

After you’ve found a specific location that you think will be a profitable area for a short term rental property investment, you need to locate a specific property in that area to purchase. It means deciding on a specific type of property. It can be condominiums, hotels, or motels.

One of the most common types of short term rental properties is Airbnb properties. They are popular among travelers as they come with their own private space to live in, rather than a hotel or condo in which there are shared walls. They are more affordable, and travelers get more bang for their buck when they book Airbnb properties.

Additionally, Airbnbs are more flexible in terms of amenities compared to a typical hotel room. A kitchen, more bedrooms, bathrooms, and sometimes even a personal pool space or a large yard make the guest experience more pleasant. When a guest’s experience is good, they’re most likely to make more bookings in the future and spread the word about you.

Mashvisor’s Investment Property Calculator

Investors looking for an Airbnb investment property or any type of property should use Mashvisor’s investment property calculator. It can help you accurately assess whether a property will be profitable or not. 

Instead of spending hours using a spreadsheet to attempt to analyze a property, the calculator does the hard work for you. It computes your finances, finetunes your costs, and predicts your return on your investment all in one place. 

Additionally, you can enter your own numbers based on your research to do all the calculations rather than using default data from its database. It is one of the features that Mashvisor offers to make your calculations as realistic as possible.

Mashvisor’s investment property calculator also gives investors a comprehensive short term rental strategy. As you use Mashvisor’s tools, you will be given comparisons between the performances of a traditional property and an Airbnb rental.

The tool helps investors develop strategies on how a property can better perform based on cash on cash return, cap rate, cash flow, rental income, and rental occupancy rate. 

Mashvisor’s calculator also features an Airbnb Profitability Calculator if you are an investor specifically looking to analyze Airbnb properties. It serves as an excellent short-term rental analytics tool.

3. Finding an Agent for Your Short Term Rental Property

Lastly, when you’ve reviewed all of the short term rental data and decided on a good location and kind of property you want to invest in, you need to find a reliable real estate agent to help you through purchasing your investment property.

Reputable and credible real estate agents will help you get the best price for your property so you can improve your return on investment. They will also guide you when purchasing a property and make sure the transaction goes smoothly. 

Mashvisor’s Real Estate Agent Directory

Mashvisor’s Real Estate Agent Directory is a great tool for investors to easily find a credible agent in any location in the US housing market. 

The directory lets you connect with agents and brokers in any area of the country, so it is certain you will find one in your desired area. You can view agents’ profiles to decide which one will work best for your needs. It helps investors choose a top-performing agent in their location. 

Related: The 9 Best Real Estate Agent Directories

Get Access Today!

Short term rental data is one of the things that will help you build a stable rental property business. It allows you to make objective evaluations of rental properties, so you’ll know if they are worth buying or not. 

As an investor, you want to make the most out of your investment, so you need to ensure that you get your numbers right in your short term rental analytics. The right short term rental data software will help you get the most accurate and realistic numbers. It can take your real estate investing game to the next level.

Suppose you are a real estate investor looking to invest in short term rental properties. In that case, Mashvisor provides one of the best short term rental data and analytics in the market today for your desired locations and types of properties. Use the latest short term rental market data to guide your real estate investment decisions.

Mashvisor’s tools will not only help you crunch the numbers well but also point you to the right investment properties that align with your goals and needs. With the help of tools like the Property Finder, real estate heatmap, investment property calculator, and even the real estate agent directory, you are sure to find the right investment property for you.

If you want access to all the tools mentioned above to make your search for an investment property simple and accurate, click here to start your 7-day free trial with Mashvisor now!