Whether you're an Airbnb newcomer or have been renting for years, you might not know the true worth of your home.
Think about it from a traveler's perspective: What are you looking for in a vacation rental? Whether it's close proximity to public transit or to explore a city during a certain time of year (springtime in Paris, anyone?), there are so many factors that can bump up the price.
Sure, Airbnb has its own built-in estimator, but it only considers the bare minimum: location and number of bedrooms you have to offer.
Data scientists at the start-up company Eliot & Me created a calculator that helps you find out what your home is really worth, based on much more than how many people can fit in your apartment. According to Mashable, the tool considers "historical trends, competing services and products, supply and demand signals, and more." The kicker: It's completely free, because its only goal is to help you get a fair price on your property.
Enter your address and the calculator automatically fills in the details, like the number of bedrooms and bathrooms you have, as well as how many guests it sleeps (but you can adjust as needed). It then tells you the trends in your area, including the high and low months for renting, events that might spike demand, and what nearby properties are going for. It even breaks down weather patterns by month, which can severely affect travel to your neighborhood.
Although knowing the true value of your home is more than helpful, Eliot & Me's calculator has another pretty cool feature: it tells you what a week of renting your home will buy you in terms of Airbnbs around the world. It might be 10 days in Los Angeles, or two weeks in Cape Town. Basically, it breaks down how to have your accommodations paid for, wherever you decide to go.
If that's not enough travel inspiration for you, we don't know what is.
[ h/t Mashable ]