One of the primary hurdles between an eager property manager and a larger return on investment is a deeper understanding of the vacation rental industry marketplace and the utilization of its insights. Insights and vacation rental projections are derived from monitoring the historical, current, and projected trends of short-term rental industry-specific trends.
With our Rental Calculator dashboard, impress prospective clients and evaluate investment opportunities with detailed performance projections.
- Why do you need it? Attract and keep clients with our Rental Calculator
- Who is our BI for?
- What is BI and why is it important?
- How Transparent BI works
- How you can get started
Why do you need it? Attract and keep clients with our Rental Calculator
Are you asking yourself time and time again how to build data-based projections of the returns you can expect for prospective inventory, or how you can persuade owners to select your management company over another? Perhaps you’re a PM who owns stock and you’re unsure which property types or locations would be most fruitful.
The rental calculator BI template solves many pain points including the following:
- How do I convey what I can achieve or benchmark in the performance of new properties?
- How should I choose initial prices?
- What is a way I can justify a certain price point to an owner when they want to choose a different price?
- How do I determine what percentiles my competitors may fall into in terms of revenue, occupancy, and ADR?
- In what way can I develop a stronger data-based revenue plan set in place for each of my markets?
- How do I optimize my yield based on STR market-oriented data?
- As an investor, how do I know which market, zip code, property type or even amenity I should be targeting for the largest ROI?
Our Vacation Rental Calculator projects key vacation rental metrics for a given property based on a set of personalized parameters. These parameters you are able to tailor with different granular filters. The report will mine our industry-leading market data and return to you:
- Projected revenue for a specific property
- Monthly ADR benchmarks
- Seasonal occupancy targets
- Amenities adding value
- Who your competitors are
- Where your competitors are
- What their capacity is
- Their unique selling points & amenities are
- Their price levels are
- How they advertise their listings
With your selection of filters (Latitude, longitude, & radius, Type & subtype, Number of bedrooms & bathrooms, Zip code, Date aggregation, Amenities, Conversion rate, Date time range), you’ll find estimated percentiles plus a list of similar properties and their metrics. As a result, this analysis will help you benchmark your listing setup to improve your existing listings. Additionally you’ll recognize the external factors that affect the supply and demand of your bookings by collecting and monitoring data from the marketplace.
Let’s take a quick overview of this dashboard’s main performance facilities section by section:
- Radius view – A map view based on specified coordinates with map markers of competitive listings
- Number of competitors – The approximate number of listings in your competitive set based on the filters
- Average total revenue – The average total revenue of listings within the specified coordinates
- ADR – The average daily rate of the listings within the coordinates in the local currency
- Occupancy – The average occupancy rate of the listings within the coordinates
YoY estimated revenue, occupancy, and ADR percentiles – the estimated percentage of listings in the 25th, 50th, 75th, and 90th percentile of revenue, occupancy, and ADR since 2019
Similar properties (Comps) – A table displaying your similar properties. Further, listed are the listing title, the unified ID, PM domain name, number of bedrooms, URL, review count, review score, ADR, occupancy rate, and total revenue
- Occupancy percentile with coordinates – Based on the coordinates, the percentage of listings in the 25th, 50th, 75th, and 90th percentile of occupancy rates over a period of time
- ADR percentile with coordinates (local currency) – Based on the coordinates, the percentage of listings in the 25th, 50th, 75th, and 90th percentile of advertised daily rates over a period of time
Who are our BI and vacation rental projections for?
Those responsible for revenue or business management can use this tool for valuable estimation metrics and strategize investment opportunities with a data-based approach. Of course the abundance of rental data and the many different combinations of measurements will impress prospective clients too. Overall, anyone from the vacation rental industry in sales, client relations, investing, revenue management, or setting new listings up can use the Rental Calculator as a blueprint for higher yields.
Furthermore, getting informed on detailed and unmatched vacation rental data on future projections is a surefire way to have a bird’s eye view over your market or any market for that matter.
What is BI and why is it important?
In sum, BI structures your own PMS data and contextualises it with market data from our 45M scanned OTA listings. More specifically, the templates (and bespoke, analyst queries) ask questions of this data lake to answer the main business questions and growth blockers experienced by PMs. In other words, today’s PMs have the answers to manage their revenue more effectively. They also have the answers to improve inventory acquisition and retention and make their operations more efficient through vacation rental projections and data insight – through one actionable platform.
How Transparent BI works
Chiefly, we connect directly with your PMS via API to retrieve and structure the data into an actionable dashboard. In addition our own data is pulled from major OTAs (Airbnb, Booking.com, Vrbo & TripAdvisor), large PM sites and enriched with anonymised partner data. In sum, we use this to build a data lake and competitive set comparisons for any market worldwide.
Users are then able to plug and play any of our templates to find answers to their most pressing strategic questions – which are my underperforming properties? How do I communicate effectively with my owners? What vacation rental projections should I start using? Our data analysts are also on hand to assist you in building custom queries on the data lake to answer further questions you might have.
How you can get started with vacation rental projections
So you’ve heard what this report offers, but there are 12 others to plug and play on our BI dashboard – explore them all below or book a free trial for one that suits your needs:
- Market Overview – Analyze reviews & monitor market supply
- Market Performance – Benchmark from historical metrics, including occupancy, ADR & RevPAR
- Top Competitors – Understand your competitive landscape by PM & listing
- Comp Set Research – Identify similar property groups for comparison & adjustments
- Rental Calculator – Run data-based performance projections for any address
- Benchmark Estimates – Track key metrics against market
- Demand Report – Understand demand trends in your market
- Daily Pacing – Track how bookings for a certain date & properties are evolving against a benchmark year
- Company Performance – Internally monitor your revenue management & operations performance
- Revenue Management Report – Monitor portfolio performance, identify underperforming properties & check pricing versus competitive sets
- Top/ Worst – Need to prioritize revenue management across your portfolio? Identify your best and worst performing properties to assess & improve
- Rate Shopping – Compare individual listings to a predefined comp set to check price positioning
- Owner Report – Automate custom reports to proactively communicate contextual performance