Main image from AirBnB.com showing 18 of the 140 AirBnB rentals in the area
The art studio has a few purposes, one of which is showing our family’s art during art shows. However, creating a place to stay in an overhead apartment is another way to use the studio year round. To achieve a studio that can act as an AirBnB rental. I researched 33 Bed and Breakfasts, rent-able houses, rooms, and cabins by looking at their costs, number of occupants, beds, bathrooms, and other important data.
What follows is a data report that I created to help determine the future of the studio apartment.
The data comes from a combination of 32 cabins, rooms, and houses that could be rented from the AirBnB website. The focus of research was on 4 key areas to find the trends that popular or heavily trafficked Bed and breakfasts.
The cost of staying a night, along with the number of people who can stay in the apartment is what people will look at to make an initial decision of whether or not to look further into the Studio Apartment. The average cost was around $135 a night, or around $35 per person per night.
Additionaly, there were additional prices for cleaning, security deposits, weekly discounts, and monthly discounts, as well as costs for housing additional people.
I found that most, but not all, hosts included free WiFi, and that many had an indoor fireplace. However, few rentals allowed parties or events to be held. We could also rent out the downstairs part of the studio to be used for events such as wedding receptions.
Renting out houses and rooms seemed to be the most common way of housing guests. The houses tend to hold the most people and are the most spacious, but often cost more than renting a room. Many houses had an additional cost for housing extra guests.
Quantifying how popular an AirBnB rental is possibly by looking at the number and quality of the reviews given by guests. I was often surprised by the number of reviews, such as the cabin in the woods which had a rating of 188, yet did not include internet. {This may indicate people often are looking for a quiet getaway from city life}
When it came down to it, I priced our apartment around the average of a house. The idea of increasing accommodation by allowing people to camp outside in tents if they wanted to could decrease the stress of piling 10 or more people into a single apartment room. Also, the apartment can serve as a main focal point, similar to our grandparents cabin when we camped up in Vancouver BC. Having a cabin to relax in was really nice, especially since the tents weren’t that great on wind protection.
Anyway, it is hard to correctly price the apartment since we don’t have solid facts about the upkeep costs of the studio. Until then, though, this will serve as a template for future decisions