How to estimate the value of your property?

2 min read

When you want to make your home into a rental property then you have to be very careful and specific about it. Your estimates should be near to correct because if you wrongly estimate anything like the rent or bills then you will get the loss instead of the profit from your property. For this purpose one of the best ways is to check the nearby properties on the Airbnb guest management portal. On this portal you will get to know about how people manage about their rents and other expenses and how they share it with the guests. After that if you seriously think of starting the short term rental management then you have to see the following points in order to get the profits:

What are the charges of nearby rental property? You have to search by visiting the nearby rental management properties that how much they are charging. You should also know that whether they are charging differently for per day and per month or not. Some of them will have higher rent if hired for one or two days and lower rent if hired for more days or for month. You have to anticipate the rent of your property through this search.

How often they are booked? You have to see that the properties which are near you are booked for more days or less. You should also see that whether they are charging more on special occasions like holidays or they are charging the same amount of money. This will help you in determining the rent of your house and also gives you an insight about how often you should rent out your property.

What special features they have? When you go for the visit you have to see that if any of them is charging high rent then what special feature that property has because without anything special, no one will charge more rent. Then you have to see about your special features to charge more as rent. These features may include a beautiful view from the balcony, an extra bed, extra bathroom or a backyard to enjoy the evening tea. Many other things are there which can be the feature to charge more and people will pay more if they find that feature attractive.