Airbnb has long had their own estimator to help potential leasers figure out how much they could earn. Unfortunately, the calculator does not take factors like season, demand and location into account.
Start-up Eliot & Me aims to fix that. Their AI-based calculator asks users to enter an address, and the calculator automatically pulls home data, including number of bathrooms and bedrooms. Users have the chance to alter the automatically populated data if it turns out to be incorrect. Once data is accurate, however, the AI pulls totals for how much potential leasers could make each day or week. It also gives a breakdown of various trends to help Airbnb renters make the smartest business decisions.
Rental trends for Airbnb users
The first graph from Eliot & Me shows monthly trends – that is, the average dollars per night that a given property could go for. It also pulls up a list of the busiest dates. A list like this allows potential leasers to better plan when they might be away to get the best profit for renting out their space. There is also a graph that breaks down weather, indicating the most opportune time to offer out space to vacationers.
There is also a map with other properties, allowing leasers to see how their property compares to others in the price they can expect. There is also a travel map, which gives potential leasers an idea of all the places they could travel with the money they could be passively earning by renting out their home while they’re gone.
What is Eliot & Me
Eliot & Me is a start-up based in the Silicon Valley. They are developing a number of pricing tools (including one that helps vacationers determine the best time to visit certain places). Currently, users can sign up to be notified when a price surges. The core products of Eliot & Me are still in beta, and available by invite only.
For the record, “Eliot” is the name of the computer program used to pull data and make calculations for the various calculators.
There is also a calculator available via email sign up from Learn Airbnb.
