Real Estate Agent · Tucson, AZ · Member since 2020 · 103 posts · 64 votes
4y
Hey @Eric Bilderback! So in regards to STRs here in Tucson, you have a couple of options.
1. You can optimize furnished finder, which is a short-term rental service specifically for traveling medical staff. This is a great option if you have units close to any one of the hospitals. We have about 10 that I can think of. Some of my buddies who do this say they are making about 1.5 times (conservatively) what they'd normally get renting it out to a long-term tenant.
2. You can optimize Airbnb. Personally, I know of a couple of guys who do this service in town and they have had no issues with vacancies. However, personally, I'm more conservative and like the idea of housing traveling medical staff as you can set a min 30 day stay where they sign a lease and have options to stay longer if they want. Seems like a lot less turnover.
Feel free to send me a PM if you'd like some more detailed info :)
Realtor · Vail, AZ · Member since 2015 · 67 posts · 5 votes
4y
HI @Jon Yost! I'm a Realtor in the Tucson area. I have long term rentals myself, out of state, and can help find you a property based on your desired rental criteria/ROI for STRs. I'll reach out to you via messaging. I would love to help.
Real Estate Agent · Tucson, AZ · Member since 2020 · 103 posts · 64 votes
4y
Hey @Jon Yost! Glad to see you're utilizing the BP Forums. I'm a Realtor here in Tucson and would love to help you find a proper investment property. Feel free to PM me!
Do you guys mind getting into some of the numbers in STRs I have seen what seem to be pretty solid numbers out there. I kind of said no it can't be that good. Specifically in the Catalina Hills and Oro Valley.
Real Estate Agent · Tucson, AZ · Member since 2020 · 103 posts · 64 votes
4y
Hey @Eric Bilderback! So in regards to STRs here in Tucson, you have a couple of options.
1. You can optimize furnished finder, which is a short-term rental service specifically for traveling medical staff. This is a great option if you have units close to any one of the hospitals. We have about 10 that I can think of. Some of my buddies who do this say they are making about 1.5 times (conservatively) what they'd normally get renting it out to a long-term tenant.
2. You can optimize Airbnb. Personally, I know of a couple of guys who do this service in town and they have had no issues with vacancies. However, personally, I'm more conservative and like the idea of housing traveling medical staff as you can set a min 30 day stay where they sign a lease and have options to stay longer if they want. Seems like a lot less turnover.
Feel free to send me a PM if you'd like some more detailed info :)
Real Estate Agent · Tucson, AZ · Member since 2022 · 96 posts · 73 votes
4y
Average long term rental rates for single family homes are at $1800 in Tucson. STR rates can peak at 3X that during high season and be 50% higher over entire year. Summers have higher vacancy so depends on what type of pricing model you utilize.
I've just started looking at Tucson for a STR. Does Tucson have STR regulations? I see 3 bed, 2 bath houses with a pool are reasonably priced.
STR regulations are mainly driven by the specific HOA that the house is in. Each HOA have their own bylaws found in the CC&R's and typically the newer the neighborhood, the more strict the STR rules are. So you can have a house with no CC&R's and STR rules all the way to not allowed at all.
You will need to drill down to more specific area to give a more detailed answer
New to Real Estate · Santa Ana · Member since 2022 · 4 posts · 1 vote
4y
Planning to visit Tucson within a month. Interested in purchasing my first rental property out there, specifcially an STR as well. If any agent has expereince in this asset class, and is available to assist, please PM me.