New listing

[Oguejiofo0]

I am looking at setting a new three bedroom all ensuite with living room, kitchen & back garden for airbnb. I want to know if it’s lucrative for me & also if I will earn well

[Mike-And-Jane0]

@Oguejiofo0 where do you plan to do this?

[Oguejiofo0]

It’s two up coming DA8 2PS & SE28 0GS. I am looking at renting them either as full units or as different rooms. What do you advise and what rate do you reckon ?

[Helen3 · Accepted solution]

The only way to know if the places you want to let out will be profitable is for you to do your market research to understand

1. Set up costs

2. Ongoing costs

Use this information to set up a profit and loss budget.

Then do your research on what comparable listing are charging out at and estimate how many days a year you are likely to let out your listing for.

Put this information into your profit and loss budget and this will give you your likely annual profit levels

I am a little puzzled by your question though. You have already been hosting for six years and have three listings, so surely you have already have a business model to help you understand likely profit levels for your listings

@Oguejiofo0 

[Oguejiofo0]

We all have different business module.

[Helen3]

What business model do you use then to identify whether you are likely to have a profitable STR model  @Oguejiofo0