Can anyone offer advice on the short-term rental market in Tulsa? Is it a good market to invest in for STR? Areas to focus on? What are the types of tourists that make their way to Tulsa? Occupancy and rates, etc.
@Alessandra Verbena I don't do short term rentals however I do live in Tulsa. I don't view my town as a very touristy place. There are no beaches, mountains, key sports teams, etc to come see. That said if you are looking here there is the historic route 66 that goes right through downtown that I know people love to drive. There are two key arenas: the BOK center in downtown Tulsa and the Mabee Center in South Tulsa at 81st and Lewis. Family oriented travelers may be attracted to The Gathering Place at 31st and riverside. We also have a few casinos but I do not fancy us to be Las Vegas by any means.
@Alessandra Verbena I can't speak to the Tulsa STR market, but I can tell you that tourism is not the only draw for people who use STR's. Traveling nurses, business professionals, traveling families, people traveling with pets, and people who just don't feel comfortable staying in hotels are all looking for STR's.
I would get on airbnb and look at properties that are available in the Tulsa area, and just see what rates they're going for. Maybe reach out to the hosts and see how long they have been hosting and what the trends have been like.
Good luck and keep us updated on your progress!
@Alessandra Verbena there are also free and paid tools you can check out to get a sense of the Tulsa market (or any market for that matter) and see if it's worth investing in an STR there. Check out Airdna, Rabbu, and Pricelabs. Good luck!
@Alessandra Verbena I own and operate STR's in Tulsa and there is a lot of demand. Others have made good points about why people travel to Tulsa; we have lots of people who are from Tulsa and come back to visit family, and families moving into or out of town. We have guests who come for events at the Expo almost every month and families who have adopted a child, not to mention events like Tulsa Tough and The Rt 66 Marathon. We have had STR's about 5 years now, and there a many more than when we started, so I advise investors to purchase carefully and buy a property that works for long term or short term tenants.
These are really helpful responses! Thank you. I will follow up on this thread.