Anyone with STRs or MTRs in Tempe / Phoenix?
Hi - I'll be in town for a few weeks to check out properties and set up an STR. I've had MTRs in Tempe for a couple years now.
For those that have STRs and aren't luxury (not in Scottsdale), have your bookings gone down more than 20% this year? My STRs were ok this year but I've projected conservatively.
MTRs have done well for me but wanted to test out peak season STR. If you have any questions about MTRs and how I set that up, let me know!
Lastly, if you are open to meeting up - chat RE or anything, I can host something in Nov. Cheers!
Quote from @Chris Lai:
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@Chris Lai most of the people with STRs are seeing a slow down in the Phx area. In fact there are a lot going up for sale for this reason or being transitioned into LTR. I think it would be a good pivot to STR for the high months but then pivot back to MTR after that. I just went live with a STR in Tempe a month ago. It is getting booked, but not as well as we projected.
Quote from @Mick Hofmann:
@Chris Lai most of the people with STRs are seeing a slow down in the Phx area. In fact there are a lot going up for sale for this reason or being transitioned into LTR. I think it would be a good pivot to STR for the high months but then pivot back to MTR after that. I just went live with a STR in Tempe a month ago. It is getting booked, but not as well as we projected.
how would you pivot back into MTR? using airbnb/vrbo with 30 day min? Or another platform?
Hi Chris,
We have a couple of STR's (arbitrage) in Phoenix and Tempe. We have seen it slower than expected but still get about 90%+ of bookings. With Superbowl and upcoming events, I would keep STRs and then transition to MTR's after peak season.
Quote from @Chris Lai:
Quote from @Mick Hofmann:
@Chris Lai most of the people with STRs are seeing a slow down in the Phx area. In fact there are a lot going up for sale for this reason or being transitioned into LTR. I think it would be a good pivot to STR for the high months but then pivot back to MTR after that. I just went live with a STR in Tempe a month ago. It is getting booked, but not as well as we projected.
how would you pivot back into MTR? using airbnb/vrbo with 30 day min? Or another platform?
I would be reaching out to insurance placement agencies, traveling nurse platforms, etc and be building relationships with them so you get added into their database and they seek you when they need a placement