It's hard to know just how much to charge when you're renting out your apartment on Airbnb. You don't want to scare anyone away by charging an outlandish nightly fee, but you'd still like to recoup some kind of payment for letting a stranger sleep in your bed.
Well, that mental rigamarole can be put to rest by this incredibly useful Airbnb rent calculator called the Eliot & Me Estimator. Using an algorithm to sort through a variety of factors, such as the weather, time of year, and the prices historically charged on Airbnb in your neighborhood, the tool ultimately does all the handiwork for you. To use it, you'll need to supply some essential details, like your address, the number of bedrooms and bathrooms in your apartment, and how many people your living quarters can comfortably accommodate. Then, the artificial intelligence platform summons a figure for both daily and weekly rates.
Here's an example using my two bedroom apartment in Brooklyn that could feasibly sleep four people. (It isn't on the market, so please don't show up at my doorstep).