This Online Tool Shows You How Much Money You Could Be Making On Airbnb
Would you trade a week of letting strangers sleep in your bed for a month abroad? This calculator can help you decide.
If someone would’ve told me 10 years ago that one day, I’d be renting out my apartment to complete strangers in order to make an easy buck, I’d have scoffed. What if they pick their boogers and wipe them on the underside of my dining room table? What if they have sex on my couch?
Ah, how things change when you’re in a bit of a financial bind. I went through a phase last year where I was renting out my Silver Lake apartment around 10 days out of the month in order to supplement my income, and I can say without a doubt that these fears were realized. There’s just no way they weren’t, statistically speaking.
Funny how easy money can suddenly make a person less squeamish. And Airbnb can be really easy money—especially if you’re out of town a lot or have the option of crashing with friends or family on occasion.
If you’re considering renting your place out, Airbnb attempts to make it as easy as possible; you can hire a photographer on the cheap who’ll maximize your abode’s aesthetic potential, and they have a basic price-predicting algorithm that’ll provide suggestions on how much you should charge.
But now there’s a tool that’ll provide you with an even more comprehensive answer, even if you’re only entertaining the thought.
On Eliot & Me, you simply enter your address and adjust for how many people you’d like to accommodate, and an AI-powered calculator spits out a number based on “historical trends, competing services and products, supply and demand signals, and more.”
It also provides forecasts by month, so you can look ahead and figure out what time of year your property is poised to bring in the most cash; upcoming events in your area that will likely drive up prices; estimates for nearby properties; and monthly weather forecasts.
But perhaps best of all, at the bottom of the page it shows you how many days you can spend in locales all around the world if you rent your place out for a week. Twenty days in Ho Chi Minh City, for letting some strange couple sleep in my bed for a week? Why not!
It’s worth noting, too, that while the algorithm is far superior to Airbnb’s, it’s still meant to be a starting point; it doesn’t account for added value like a pool or having a well-decorated (read: highly Instagrammable) spot.
Still on the fence? At the very bottom of the page, you can sign up for an alert that will notify you when a week’s worth of Airbnb rent will exceed the threshold you set.
In other words, you name the price at which you’d be willing to overlook someone farting into your throw pillows and they’ll let you know, so you can start planning that month-long trip to Cairo.
Words: Deena Drewis
Photos: B&J/Eliot & Me