The Money Mustache Community
Learning, Sharing, and Teaching => Real Estate and Landlording => Topic started by: Maya on January 05, 2017, 09:29:53 PM
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does every booking tend to leave reviews? If not what's the ratio for those with dedicated Airbnb space?
Trying to guess the levels of occupancy for my area. 1 suite is gorgeous, renovated for Airbnb and has over 40 reviews in 6-8 months. Others have 5-6 in about 6 months of being a member. Can you guess based on reviews or only x% leave reviews? What is your percentage of reviews to bookings?
Trying to do a rough guess of days booked in a month. For us it would be worthwhile if we had 10-12 days booked.
I think there is a good potential market for our basement with a suite, as they are currently building 3 new hotels and have recently added another 4 in the last 10 years or so. It's a suburb city so not really a tourist destination but I think it's trying to position itself for lots of sport tournaments so we could potentially get a lot of youn sport players and families. Woukd work well for us as we have a young family.
As I posted in another Airbnb thread, we would dedicate our basement to Airbnb and our personal guests for 2-3 years till our family grows up a bit and need more space. It's my hope that by finishing it now, the rental income would pay for the renos, rather than just sinking the money in when we want the extra space. We have the cash to do it, and doing it early will hopefully pay for itself and give me a bit of extra income running it while on mat leave.