⭐ the potential of your city in a short time: live with AIRDNA
This week I share a case study with you. I analyze a city live with you in a short period of time with AIRDNA statistics.
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Hello and welcome to the J'poster Complet channel, the channel which helps seasonal rental companies, professional sub-renters and seasonal rental concierge services to become serene and ultra-profitable entrepreneurs. Today, I take a slightly different case. I am doing a case study. We're going to do something live, together: do an analysis exercise, in fact, of a city on AIRDNA to give you some insights, and some elements to look at to identify if the city is interesting for you to rent short duration. I will allow you, in fact, to see with our methods, what we see in AIRDNA, to know how to use it better and understand the elements which are quite decisive when we decide or not to go to a city, whether We are individual, whether we are a concierge service looking to develop, or a professional sublet looking to have, as a result, a much more extensive heritage. So, as I was able to say in the comments of the video, when I scheduled it, don't hesitate...so already, don't hesitate to greet me when you arrive, it's always a pleasure. I see that there are already a lot of you today, that's great, so don't hesitate to tell me if you have a city in mind that you would like me to study on AIRDNA. This way, we will be able to take a city that interests someone. It's still a lot nicer though.
– Hello Thomas, welcome. “Is it possible to analyze the town of Saint-Valery sur Somme, in Picardy? » We will look, but we will still need a city that has a sufficient number of announcements for it to be interesting. I'll see if it's a city for which this is the case.
– Hello Chris, welcome. Thank you so much.
– Hello to you, I don’t have your first name, but welcome to you. Thank you so much.
– Hello Maxime, welcome.
– Hello Axelle, welcome. I hope you are well, Axelle.
– So Maxime tells us: “Vienna”.
– Hello Amiens. “Aubervilliers”.
– Hello to you, I don’t have your first name. “I would like us to study Mandelieu-la-Napoule.”
– Hello to you, “Villeneuve-Loubet”
– “Bagneres de Luchon, is this possible?”
– Hello to you, welcome.
– Hello Romain.
Wait. What I'm going to do is I'm going to start by opening AIRDNA, that would be a great idea. For the sake of fairness, we will do: first asked, first served. We're going to do it like this. We will choose a city for which we have, however, enough announcements. So the very first person who asked me for a town was you, Thomas, in Saint Valery sur Somme. I'm not sure we have enough announcements, but we'll look at it right away. So hop, I'm going to share my screen. I go to AIRDNA. I am logging into AIRDNA. I could have done it in advance, it would still have been much smarter. I'm logging into AIRDNA, and then I'm going to share all of this with you, right now. I see we have a lot of people watching us on YouTube. It's true that it's quite funny, we have more and more people watching us from YouTube. At the time, I did a survey to find out if you want me to stay on Facebook, or if you want us to do it on YouTube, but more and more of you are watching live on YouTube. I think the interface is quite pleasant for watching a Live. If you are not subscribed to the YouTube channel, now is the best time. You will be alerted when I come live, and that way, we can chat together. It's still really much nicer. I'm sharing my screen right now. I'm connected to AIRDNA, here we go, I'm sharing.
We are going to look at the first city that Thomas asked me about. I do: first come, first served. If you like this kind of thing, we can go back, eh. I'm not closed if you liked it. So there you normally see my screen. I would like you to confirm, normally, it's good. So there, Thomas, you asked for Saint-Valéry-sur-Somme in Picardy. I have to admit, no offense, but I don't know Saint-Valéry-sur-Somme at all. So, how many announcements do we have? I believe Thomas wrote his message even before the live. I didn't know you could write comments on a live before it even started. So how many announcements do we have in Saint-Valéry-sur-Somme? Oh well, yes! I had a completely stupid prejudice, since in fact, there are enough advertisements in Saint-Valéry-sur-Somme. In terms of announcements, in total, we have 236. OK, great! What I suggest to you is that we start with Saint-Valéry-sur-Somme. So we are going to work with this city. So Thomas, you are the lucky one. You were the first, and I even believe, as I said, that you wrote your comment before the video even started, so you see, it paid off: we are going to study Saint-Valéry-sur-Somme. So I'm going to share with you, really, the points that are the most important to me.
Perhaps, before starting on AIRDNA, some small elements: I usually call them the disclaimers to keep in mind on AIRDNA. Often, what people tell me is: “Yeah, but AIRDNA, Élise, it’s AIRBNB, and I sell a lot more on booking, and then booking, it’s more qualitative, it’s more expensive, etc.” What you need to know is that AIRDNA is marketing to us both the fact of collecting information from AIRBNB, yes, that's true, but also of applying, on this data, an algorithm which will go , in the work, it will be to reconstruct the total performance of the ad. Which means that we have an estimate of the overall potential of the ad. It's an estimate, so that means it's just within five points: that's what they commit to on their site, so on a too restricted level of ads. Accuracy can be much more uncertain, we will say, but when we have enough announcements, it gives something which is still relatively consistent, and which estimates an overall performance potential for the announcement. It’s not just an AIRBNB performance. It is also because they do the job of estimating the overall potential that we use it on a daily basis for the work we carry out for our clients. It’s an essential part of today’s work. We couldn't do without it. Besides, I wrote a little message to the team before doing this live, saying: “Attention, I’m on AIRDNA.” It's really a tool that we use a lot. The other point to keep in mind is that the turnover figures and average prices that you found in AIRBNB are total amounts. So you will have, inside, the entire traveler payment, that is to say the stay, the cleaning, but also, inside, you have the AIRBNB commission which is not withdrawn from this amount . So it's paid traveler. So that's it for that part. When you study a city on AIRDNA, there is information that is interesting, which is free. In this first overview page, I will show you some of them. The first thing that is quite cool is to look at this: what are the forces present in the city? Do we have a lot of studios, t2s, t3s? It's an American system. This means that one bedroom means t2, two bedrooms means t3, etc. It's quite interesting, it will allow you to see what exactly the forces are present in the city, do you really have a lot of studios, a lot of t2, a lot of t3 or not at all? And in these cases, particularly on small surfaces, it may be worth doing well. There, we see, for example, that in Saint-Valéry-sur-Somme, there are few studios, which means that the studios will already be able to easily do well, because there are few of them, and in addition, come and “hack” the competition from t2, because it is a smaller surface; it’s a price, therefore, cheaper; but at the same time, it is the same traveler use as a t2. Travelers will come to a studio or a one-bedroom apartment in the same way for “business” reasons, for a leisure trip, etc. There, in this case, we say to ourselves: “In Saint-Valéry-sur-Somme, the studio is interesting, because there are few of them.” Everything I just said. On the t3, it's a larger surface area. We could say to ourselves: “There, there are few, is this the guarantee of success, or is it, conversely, not at all the guarantee of success, and If there aren’t many, is that a bad sign?” That's trickier to say. It depends on the cities, it also depends on the potential. We will look at the seasonality of the city later. In any case, it is less of a guarantee of success than going to surf on a type of property which is small in size, and very much in the minority at the moment. So this is the first painting that I always find very interesting, to understand, a little, the forces present in the city. Another element, which is also very interesting, is this one. I'm giving you a summary, eh, because I'm not going to be able to give you the whole exhaustive presentation, otherwise we're going to have a 4.5 hour live, and I imagine that you have something else to do than watch the live Élise all afternoon. So, I select the elements that are the most salient. Afterwards, when we are going to audit the city, we really go quite far in this analysis, but I wanted to give you a few marbles to allow you to look so quickly. On the free part, what is also interesting is here. So you see the cancellation conditions that are required by the announcements. So it's quite interesting, since when you have your apartments and you manage them, it allows you to see if you want to make your cancellation conditions tougher, go from flexible to moderate, or from moderate to strict, you can see if you operate in a market that does, or if this is not the case at all. I'll give you an example: you want to go from moderate to strict, but you see here that there is no one in strict. Which is not the case in Saint-Valéry-sur-Somme. But if there was no one in strict, you already know that you are actually taking a risk by doing that. Because that means that you will be the only one to have strict cancellation conditions, that roughly speaking, travelers will easily find better solutions than yours. So that’s interesting to question ourselves on that, too. Another point that is interesting is here. These are the minimum stay lengths required by hosts. So here, we also see that there are one nights and two nights in the majority. So, it will be interesting if we want to require slightly longer lengths of stay, it will be interesting to be vigilant about that. Because the market doesn’t work that way at all. That doesn't mean it's a bad idea, but it does mean that you still have to dig deep and check that you have the potential to be able to do it. So that's on the free part. Another element that is very important to look at and we really study this a lot, is the seasonality part. The seasonality part will be a very solid foundation for you, to be able to build your pricing strategy and your revenue management strategy behind it. So here, for example, what we're going to look at right away is going to be this painting. On this table, you have, in fact, month by month, the RevPar. The RevPar is an income per apartment, which allows us to really be...the fact of making this ratio, of income per apartment, allows us to have months comparable to each other. Because sometimes the supply explodes, and sometimes there are a lot fewer offers. Here, what we see, we always look at 2019. Because for reasons we know, 2019 is the reference year. 2020, we know what happened to us, and 2021 is starting again, but it's still a little atypical, especially in terms of events. So when we look at 2019, from January to December, we can immediately see what the seasonality of this city is. So, we'll see right away. Well, from April to August, there are a lot more requests. That is to say that apartments manage to make a lot more money during these months, from April to August. We actually use this table to determine demand levels: is it going to be a weak month? A strong, average, eventful month? And then afterwards, we go into more details, in particular with the help of this table which is day by day. But here, already, you really have a very easy idea of the seasonality of your city: when are you going to have stronger months or weaker months? It's also quite interesting when you want to make assumptions with the banker. Afterwards, bankers, we don't necessarily mention LCD when we invest. These can be hypotheses if you are a concierge or sub-let, that you really want to show that you understand the seasonality of the city, especially in a new city to the owner, show him this table. An external entity that gives statistics is always very credible, so it can be used in a lot of situations. That's point number 2: really having, in AIRDNA, a perspective of the seasonality that we will have in this city, and the associated potential month by month. That's the second point.
The third point which is also interesting is the point in the “occupy and sea” part. So here, we will instead look at the occupancy rates. On the occupancy rates, here it takes a little time to load, I'm going to take a little break to see your messages.
– Catherine said to me “a big thank you for your Lives. Thank you, Catherine, it’s really nice of you to tell me that. It touches me, and it's true that I must admit: it's time and commitment that I produce. I know why I do it: because it’s in our DNA to share, at J’poster Complet. Sharing knowledge, allowing everyone to have access to all that, but it always warms my heart to read that. So thank you very much.
– Laurent tells me: “Cannes is very busy”. OK.
– Hello, Marie, hello. Thanks for being there.
So, here, we have the occupancy rates, here, on this occupancy rate page, you will have a vision of the level of occupancy of the advertisements. Why is it interesting? The level of filling of the ads will be partial as information, because yes, it can fill up, but if it fills up with a super low price, the information is partial. Now, we like to look at that anyway, because it also gives an idea of the typology of cities. You have cities that are extremely busy, on which...in 2019, eh, because obviously, I'm leaving all the pandemic topics. But the cities which are very busy, in 2019, you can sometimes have flat quasi-encephalograms on the filling, because there is, all year round, a sort of constant filling, or we have some fluctuations , but it's played at 10-20 points of gap filling, that is. It really fluctuates between (I'm talking nonsense) 70% and 90% full. When you have this kind of profile on filling, you have a good chance of saying to yourself: “I will have a business clientele, in this city which will allow me to fill all year round.” This can be one of the elements of confirmation, if this is what you are looking for when investing in this new city. There, we see that in Saint-Valéry-sur-Somme, we have something much more seasonal. So this is a city that will be very seasonal. Now, I want to clarify anyway. We often say: “Ah, it’s very seasonal, it’s not serenity”. It depends. Already, we see that it is very seasonal, and in the end, the season is quite spread over several months. Sometimes it's very seasonal, but over two months. So the risk is even greater. But if you are an investor, and you watch this video, be careful, I would like to point out that this is not...in fact, this is what Julien Loboda said on my microphone when I heard it. interviewed. I posted the video a few weeks ago. It's not because it's very seasonal, and basically, we only do the work over two months that it's a bad investment IMMO. If you buy at a price that is extremely low, which means that even if you are only 70% successful in two months of the year, your profitability is taken care of, everything is fine. So there you have it, all of this must also be taken with a grain of salt when it comes to the IMMO investment part. But in any case, if you are in the process of understanding seasonal rental in the city, and that is the purpose of this study, the occupancy rate will help you to know: is I have a rather seasonal city or not? Do I have a city that has a somewhat platonic business clientele all year round? And there, with an idea of the filling, it really gives you this answer. That's why.
Perhaps, a point to explain to you, nevertheless, on this table of occupancy rates, you have here four categories of line: you have the 25 percentile, the 50 percentile, the 75 percentile, the 90 percentile. way, we rather use the 50 and 75 percentile. Basically, concretely, on the 50 percentile, you have a median value which gives you an idea of the city on almost average. Median and average are not the same thing statistically, but hey, we're not going to be doctors in math today. And then, you have the 75 percentile, which gives you the performance in terms of occupancy rate, because here, it is the occupancy rate, from which we have the best 25%. So if I give you that in French sentences, that means that, for example, in the month of June 2019, in Saint-Valéry-sur-Somme, we know that the 25% of ads which had the best fillings have made at least 83% filling. So that's it.
To synthesize, because I don't want to make a live performance that's too long, that lasts for ages. To summarize, what is interesting, I found and wanted to share with you two free marbles and two marbles which are on the paid part of AIRDNA. In the logs which are free, we are on the overview page, and there, you have visibility on the number of apartments by apartment typology, and you also have visibility, if you are already operating on the strategies required by hosts in terms of cancellation conditions, or minimum length of stay. And then on the paid part, you have access to the idea of occupancy levels, to understand, a little, how the city works: is it extremely seasonal or not? Is it very school holidays or not? Business customers or not? And you also have, therefore, this part in “seasonality”, where you can see, really, the type of periods month by month. You will really be able to have an idea of the money obtained month by month for each month of the year. So with these four elements, it is a first basis for getting on board with a vacation rental city that you are considering. I don't know why that took me out of it. That's why.
If this is something that interests you, we could do other studies like that, perhaps share with you other screens that are interesting.
Just one last thing to clarify, I didn't talk about these amounts at all, which are very macro amounts, which cannot be used as they are. I sometimes see people who tell me: “I decided on an investment by looking at this price.” My hair stands on end every time I hear that, because that figure, 105 euros, has no value. It does not have “any value”, but it is an unusable figure for us, as an IMMO investor, since it is a figure that is rolling over the past. And in addition, it will consider all the percentiles, it will consider all types of goods. It's nonsense, in fact, to use it to decide your investment. Now, you have to go to the “price” section here, in “create” if you want to have more precise price ideas.
This is what I wanted to share with you today. Do you have any questions to ask me about this? Does this speak to you? Tell me what you think.
– Dimitri who said to me: “Very interesting”. Thank you very much, Dimitri. It's always a pleasure to read you.
– “Heads and balls, excellent!” Did I say that? I didn't even realize it. You are right to reprimand me when I say stupid things like that.
If you want to join, too, I have the pleasure and chance to be an administrator of Dimitri Bougeard's Facebook group. So don't hesitate, too, to join us on Facebook. It's Jurissimmo: it's a very interesting Facebook group in which we talk about the initiative of Dimitri Bougeard, who is a lawyer. We talk about lawyers and real estate investors, we talk about the legal aspects of real estate. It's an exciting group, so don't hesitate to join them.
– Thomas says to me: “Thank you, Élise”. Listen, you're welcome. I was delighted to be able to study Saint-Valery sur Somme, which I didn't know at all.
– “Yes!”
– “Jurissimmo Invest”. That's it, exactly. Jurissimmo Invest on Facebook. Alright.
Listen, I thank you for being so numerous once again. I say this every time, but there are more and more of you, so I really thank you for being with me for this live. Once again, if I haven't seen your questions when you leave this live, don't worry, I'll go back to Facebook and YouTube afterwards to make sure I haven't missed any questions. So even in replay, you can ask me your questions, I will answer them with great pleasure. I answer all questions.
– Ah, Maxime who said to me: “And so, what do you think of the city.” So Maxime, I would like you to tell me: what do I think? I imagine that if you ask me this question, it means: should you invest in short-term rentals? In fact, for us, there is none, except in extreme cases, but overall, it is really rare to have cities in which we say: “We should not invest.” In any case, it is not on the basis of an AIRDNA study that we will say: “We should not invest”. No. Because short-term rental, in all cities in France, there are people who need accommodation. For me, it wasn't your question, I grant you, but to formulate the question that way, because sometimes I hear it: it's partial, in fact as a perception of things. Because in the end, in Saint-Valery sur Somme, if Thomas tells me: “I’m investing. I have an apartment, a studio”, for example, because we were talking about the studio. If he says to me: “I have a studio I want to buy, what do you think? Am I going or am I not going?” In fact, if he doesn't tell me that he is buying at 15,000 euros per square meter or conversely, at 500 euros per square meter, as a real estate investor, no one can give the response of: “should we go or not go?” So for me, AIRDNA is a way to prepare, to understand how the city works, afterward it also depends on each investor. Perhaps some investors will be more reassured by the fact of having a very business city, with a platonic occupancy rate over the year, and with relatively consistent income all year round, and in which case, it is a perception of IMMO investors, each with their own reassurance and desire for operating methods. Conversely, there are other IMMO investors who will prefer to have ultra-seasonalized cities, because they know that during extremely strong periods, we can go very far on prices. So that is also everyone's wish, to see in what type of environment we want to operate short-term rentals. Now, if someone asks me the question, for me to say: “Do you think that in Saint-Valery sur Somme, nothing can be done? » In fact, in all cities, we manage to do things. You simply need to understand how the city works, so that you can subsequently have the best strategy, the strategy in line with this city, and therefore, make it a success for you. For me, that's just some elements of understanding to subsequently implement the best strategy. And that’s not necessarily what’s going to tell you: “You should go or not go.” What will tell you: “You have to go or not go” is to balance, as always, the financial commitment you make versus the gain. It's always kind of the same thing.
– Hello Najat. “Thank you for sharing this, I discovered your channel and I find it excellent.” Thank you, thank you. Don't hesitate to call me informally, because it's a lot nicer. But the gesture doesn't bother me.
– Laurent: “In the end, is it worth subscribing? » Yes, for me it is interesting to subscribe. In fact, it also depends on the perspective. Subscribe to AIRDNA, to the extent that you want to have a professional approach, with a pricing strategy, with the aim of really capturing the maximum turnover from your activity, then AIRDNA is an essential tool. That's for sure. We, as I said earlier, today, we are optimizing almost 450 properties. We are starting to be a strong team. We work for more than 20 clients, we could not function without AIRDNA. AIRDNA, or a competing tool, but in any case, you cannot function without this type of market statistics tool, which allows us to be as sharp as possible across all cities in France. At J'poster Complet, we have a subscription throughout France, which allows us to work in all cities in France, Antilles, Réunion, etc. So yes, for me, when we have an approach of maximum profitability and serenity, moreover, because seeing certain statistics can be reassuring. Yes, it is important to have AIRDNA.
– Pauline says: “Thank you, Élise, for these videos…your feedback and advice are very interesting”. Thank you very much, thank you. It's really nice of you to share this with me. Honestly, it really touches me.
– Using beds 24 should you synchronize or not? That's a good question, Laurent. In fact, when we use beds 24, we will not be able to synchronize with AIRDNA. In fact, today AIRDNA is not a pricing system. In any case, the biggest part of their expertise is not determining prices for you. AIRDNA will instead give all the statistics so you can know what price you want to make. So it will not connect with beds 24. What is possible, however, is to connect it to the AIRBNB ad, so as to be able to compare the performance with the performance of competitors. You can even choose a set of reference competitors, so it's quite interesting. Now, why did I say that AIRDNA is its core business? This is because today, AIRDNA has added a dynamic pricing block on which they are starting to seek to compete with companies like Prica or Pricing. So these are the beginnings. They call it Smart Rate, here, and that, to be honest, I don't yet know what it can be connected to. It seems to me that it's not connectable to a channel, but I'm not sure, maybe I'm talking nonsense.
– “Ah yes, are we going through some questions?” I don't understand what you mean, Laurent. “We go through questions.” What could I have said, which referred to this: “we are going through questions”.
– “An essay on a real city would have been more telling”. Saint-Valery sur Somme is a real town. It's Thomas's town, so I don't know what you mean. Your messages are a bit mysterious to me. In any case, here we are in a real town: Saint-Valery sur Somme. And this is Thomas's town. We have to see with Thomas if he finds that his city is a real city or not. So.
Listen, thank you for being with me. I wish you an excellent day. As you know, I'm live on Tuesday at noon and Thursday at noon, so I'll see you Thursday at noon for a new live on a completely different subject. If you are not yet in our Facebook group, we find ourselves among serene and ultra-profitable entrepreneurs, people who are seeking, precisely, to increase profitability and their turnover in seasonal rentals. Don't hesitate to find us, the link is just below. You will also receive a free gift: you will receive the bonus of the six mistakes not to make when determining your short-term rental prices. Thank you again for being with me, it’s always a real pleasure to talk. I'll see you Thursday at noon for a completely different subject. Take care of yourself.