How to use rental filters

The rental filters tool in Forecast in SummerOS allows you to refine your submarket analysis by focusing on the properties that matter most to your goals. This guide will walk you through the steps to fine-tune your rental data and create a more targeted competitive set.

Watch now to get started, or keep reading for step-by-step instructions.

How to use the rental filters tool

Step 1: Start with your property and submarket

Begin by uploading your property into Forecast and defining your customized submarket boundary. For this example, we’re working with a four-bedroom, three-bath pool home in Scottsdale.

• Default filters: Forecast initially displays properties with 270 active days and at least 10 reviews, but you can adjust these criteria for a more tailored analysis.
• Labels: The map is set to display GMC revenue (gross minus cleaning revenue) by default, but you can customize this view based on your preferences.

Step 2: Open the rental filters tool

Click the Rental Filters button at the top of the page to open the filters menu. Here, you can adjust various parameters to focus on specific types of properties.

Step 3: Apply key filters

1. Bedrooms:
   • Set minimum and maximum bedroom counts.
   • Example: Filter for 4 to 5 bedrooms to match your subject property’s size.
2. Reviews:
   • Adjust the minimum number of reviews for properties.
   • Example: Include properties with at least 5 reviews, ensuring you analyze active and reviewed rentals.
3. Days listed:
   • Modify the minimum number of active days.
   • Default: 270 days (nearly a full year).
   • Example: Adjust to 240 days to include slightly newer properties.
4. Rental type:
   • Select the type of property (e.g., single-family detached homes, apartments, condos, cabins).
   • Example: Filter for standalone single-family homes to match your property type.
5. Amenities:
   • Include or exclude specific features like pools, hot tubs, waterfront properties, or Superhost status.
6. Revenue:
   • Set a minimum revenue threshold for properties.
   • Example: Choose GMC revenue and include homes earning over $80,000 annually.

Step 4: Apply filters and analyze results

Once your criteria are set, click Apply Filters. Forecast will update your submarket view to display only the properties that meet your selected parameters.

• Example: Filtering for 4-bedroom homes reduces the dataset from 203 properties to 134, providing a more focused competitive set.
• Use these results to analyze relevant properties and gather actionable insights for your market.

Key takeaways

The rental filters tool in SummerOS' Forecast is a powerful feature that allows you to narrow down your analysis and surface the most relevant properties in your submarket.

By customizing filters for bedrooms, reviews, amenities, and revenue, you can quickly hone in on the data that aligns with your goals. Use this refined dataset as the foundation for building a competitive set and making data-driven decisions with SummerOS.