MTR \ Corporate Management Companies

[Frank Straughter]

I have been having trouble with locating a management company for Mid-Term \ Corporate rentals in the South Texas (San Antonio) area. Any suggestions on how to find them? What search criteria does everyone else use to find them?

Any suggestion or referrals?

[Bonnie Low]

Quote from @Nathan Gesner:

Quote from @Frank Straughter:

Part of the problem may be your use of MTR or medium-term rentals. Why? Because it's a made-up term that doesn't really exist in law. 

Anything rented for more than 30 days is a long-term rental (LTR) and anything 30 days or less is a short-term rental (STR). Just because you add furniture and include utilities doesn't create a new category of rental. Look for a company that manages long-term rentals.

If you own and manage MTRs you understand that, despite there apparently being no "legal" definition of midterm rental it is quite different than long term rentals. It really is the hybrid between long and short term. It is a hospitality business, just like short term rentals. You are providing upscale furnishings, all appliances and often amenities - not common in long terms - and you are stocking it with supplies and staples - virtually unheard of in long term rentals. You may even be providing mid-stay cleanings or, at a minimum, cleaning supplies so the guest can keep it clean between turns. The guest experience is paramount; whereas most landlords and property management companies pay little attention to the long term tenant experience beyond the basic necessities. Almost none of these things exist in the LTR space. This is why it is very difficult for traditional LTR management companies to help you be successful in managing your MTR. It's a big mistake in my opinion to rely on one to manage your MTR. Your property and ratings will suffer and this niche is becoming ever more competitive. I don't see the point or the value of continuing to deny that it's a thing. If you don't own and manage one, you can't really speak knowledgeably to this niche.