Of all the side hustles out there, Airbnb is one of the most financially rewarding. A study last month from San Francisco loan provider Earnest found that the average Airbnb host makes nearly triple that of the next-best gig. About half earn more than $500 per month. But that's all data and stats — what about what Airbnb can do for you in particular?
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The company offers its own calculator, but hey, if something's worth doing, it's worth doing with an AI. Enter Eliot & Me, which doesn't just stop at estimating what you could charge. The website pulls publicly available data to fill you in on expected weather patterns, surge pricing opportunities, your neighborhood competition and — nicest of all — where else in the world you could be with the money you earn from a week of renting out.
Eliot & Me doesn't just work for renters. Travelers can use the site to find the most and least crowded times of year to visit a new place. You can also uncover when the cheapest rooms are available, what kind of temps to pack for and what's nearby that's worth a day trip or a stroll around the corner.
Before you get totally amped to hit the road, remember that not every city, state or country is happy with Airbnb. Certain listings are against the law, while some activists argue that room-sharing harms neighborhoods. Be sure to do your research, not just about whether you can room-share but whether the rental you want is a good idea — there's a reason for all those stories about bad rooms, bad hosts and bad guests.
Right now, Eliot & Me's creators are only identifying themselves as a team of Silicon Valley entrepreneurs and data scientists. What's more, they claim the full product isn't even fully launched yet. But if you want to make the most of big data and the gig economy, this friendly fact-cruncher is here to supply.