How We Built ProphetBot, A Tool That Helps Property Owners Choose Between Short or Long-Term Rentals

By Faturoti Kayode, Co-founder of Homevy

“Trust me, short-term rentals are more profitable.”

If you’ve ever tried to convince anyone that Airbnbs and short-term rentals are better than traditional leasing — it usually goes something like this: “Just trust me, it’s more profitable!“

But the truth is…everyone “trusts” the figures more.

At Homevy, we faced this challenge daily. Property owners would ask us straightforward questions like “How much can I make compared to long term rental?” and we’d find ourselves diving into spreadsheets and calculators.

We knew there had to be a better way.

The Challenge of Dubai’s Rental Market 

Dubai’s rental market is ALWAYS changing. High seasons, low seasons, rental regulations, bills, fees, platforms — it never ends. And knowing this…we had to ensure every property decision wasn’t just a gut feeling but a calculated move toward an actual ROI for property owners.

Yet, that wasn’t even the real challenge.

The real challenge was figuring out a way we could consistently show owners they’d make more money with short-term rentals. And not just that — but exactly how much more. Because let’s be honest, nobody wants to hear “Let me get back to you after I consult my spreadsheets.” 

Everyone wants it now.

The Real Pain Points

The challenge in Dubai’s rental market goes beyond how the market changes — or proving that short-term rentals are more profitable. Here are the major pain points:

• Not every property will succeed in the short-term market, regardless of location or amenities. Some properties are better off with long-term tenants. And so – we needed a way to figure this out fast, before making promises we couldn’t keep.
• Beyond showing if a short term rental would make more money — we had to know exactly how flexible our pricing must be to deliver on our promised returns. Too rigid, and we miss bookings; too flexible, and we risk unprofitability.
• Needing real-time guidance on whether we could offer discounts while maintaining profitability. When a guest asks for a discount, we need to know right away if we can say yes without being at a loss.

Homevy’s Solution

After countless cups of coffee, friendly arguments about seasonal occupancy rates, and late nights —  we built something special. 

We created a pricing system that considers everything — and I mean E.V.E.R.Y.T.H.I.N.G:

• High season vs. low season 
• Fees for listing and marketing
• Day-to-day running costs
• Location
• Local rules and permits
• What other rentals are in the area
• Costs when guests/tenants change
• Possible problems and protection
• Cost and time for managing the property

…and more.

But here’s the cool part — we made it talk. Well, sort of. 

We turned it into a Slack bot that anyone on our team can chat with. Need to know if a property will be profitable? Just ask the Prophet. Want to know if you can offer that discount a guest is begging for? Ask away. 

Prophet bot slack response

It’s just like having a smart teammate who’s really good at math and NEVER sleeps.

How ProphetBot Makes Life Easier

Here’s what our bot actually does:

Is This Property Worth It?: Feed ProphetBot the details, and it’ll tell you straight up if short-term rental makes sense — or it’ll be better to go the long-term rental route. No sugarcoating, just facts and figures that show why it will or won’t work.

Profitable Pricing: The bot tells you the exact prices you need to charge each day to hit your targets. High season, low season – it’s got it all figured out. So for example, if a guest is bargaining (and they always do), ProphetBot tells you exactly how low you can go without messing up your profits.

Are We On Track?: Our bot keeps an eye on how you’re doing compared to what you promised. So there’s no surprises at the end of the month.

Prophet bot API response

The Results

Now when a property owner asks us “How much can I make with Airbnbs?“, instead of diving into spreadsheets or promising vague returns, we show them exact numbers. Not just total revenue, but a complete breakdown of:

• What they’ll make in high season
• What to expect in low season
• How much better it is than traditional leasing

And most importantly, why these numbers make sense.

Right now…we’re aiming to get our property owners at least 20% more returns than long-term rentals. Why 20%? Because if we’re going to do something, we might as well do it right. Anything less wouldn’t be worth the extra effort required for short-term rentals.

But that aside, 20% additional return is a starting spot for owner satisfaction and market sustainability. This also ensures we can maintain high-quality service while delivering profitable returns.

What This Means For You As A Property Owner

Here’s the truth — we didn’t build this just because we love math (though our team does). We built it because we believe in transparency. It’s one of our core values at Homevy. When you trust us with your property, you’re not just getting a management company; you’re getting a team that has YOU in mind.

So we integrated this directly into your owner dashboard. 

Meaning, as a property owner with Homevy, you can;

• access your revenue projections 
• compare actual performance against projections
• track progress toward the 20% increase goal
• make informed decisions about your property’s future

Our goal isn’t just to promise better returns – it’s to demonstrate how we’ll achieve them and give owners the tools to verify our success. 

The Next Chapter: Making ProphetBot Available to All

Big news — we’re planning to open up ProphetBot to other property managers. Why? Because we think sharing it will make the whole industry better. 

We want to help other property managers:

• figure out which properties are worth their time
• be straight up with property owners about what’s possible
• set daily rates that actually make sense
• build businesses that last

So next time someone tells you “Trust me, short-term rentals are more profitable,” ask them to show you the math. 

We’ll be here, ready with our friendly prophet bot and real numbers to back it up.

Update 15/02/2025

Prophetbot is now available for public access, click here to calculate your short-term vs long-term rental income.