InsideBnB was born out of a personal need of the founder who, having started a short-term rental business, realized the difficulty of setting the best price by analyzing market data. Collecting this data manually from the portals is a lengthy activity that brings few results because it is not possible to have a clear view of all the competitors. Other tools available on the market only provide statistical and non-detailed data. This means that users have no means of verifying the validity of the data provided to them.
Having obtained excellent results, the founder decided to make the same tool available to hosts and property managers from all over the world.
We get our data from various sources. We get them from short-term rental portals and selected partners worldwide.
Our data is 100% accurate. When we provide the detailed data, we do not subject them to any processing and we provide them as they are in the short-term rental portals. You can check every single data in the portals and verify that the match is full.
We add properties on a daily basis (as we identify them) and remove properties that are no longer active. Despite this, there may be new properties that we cannot identify right away. But if a property that we haven’t indexed yet is added by a user, our system indexes it in a few minutes. From that moment the data of that property will be updated like those of the others.
The data is updated with variable frequency. We identify the properties that most interest our users and update their data several times throughout the day. The other properties are updated on a best-effort policy. We constantly evaluate the interest in our users’ properties and, when we see that a property that we have not prioritized becomes interesting for even one user, it automatically switches to a high priority.
Depends. When you add a property you get access to the data of all properties around the added one, within a radius of 20km. The advantage of adding individual properties is that you can have a specific competitor list (and consequently a specific competitor calendar) for each of them. But if your properties are all the same in type (e.g. 1 bedroom and max 2 guests) and are in the same area, likely, the competitor list is also the same. So even just adding a single property you have the data that you need for the others.
If you have properties with different characteristics, you can still use just one property, but to have consistent data for all the properties you will have to change the filters each time and modify the list of competitors. This would take a long time each time and is why you would want to add each property separately
If you don’t yet own a short-term rental property, you can still access area data. You can search for another property (perhaps similar in characteristics to the one you are interested in) on the short-term rental portals and add this property. In this way you will still have access to all the data on the area that interests you.
Mainly the advantages are two:
1) using InsideBnB you have access to all the properties around you. Which you will not be able to do with any other tool (because the data you will be able to find are filtered according to the needs of the provider and not according to your needs)
2) you will save a lot of time. We spoke to many hosts (professionals and non-professionals) and they told us that the activity they previously carried out manually took them between 15 and 30 hours every month to get minimally meaningful data. With InsideBnB the data collection activity is done automatically by our systems for you. It’s up to you to choose the best price (or you can use “Magic Pricing” which will take care of suggesting it to you).
“Magic pricing” is a very powerful tool which is based on a series of optimized and exclusive algorithms. It suggests which is the best price for each day still available and in doing so analyzes the daily data of all properties similar to yours, considering the optimization of both the occupancy rate and profit.
You should use it at least once a week, for periods ranging from today to the first two or three months, and at least once a month for subsequent periods. Updating prices is still your decision. “Magic pricing” does not modify your calendars in any way.
In some (rare) cases the daily price can be different based on the the stay length and/or others variables. So a single day could have more than one price. To solve this our algorithm calculates availability intervals and finds out the medium daily price for a those intervals.