How to transition from STR to MTR

Question

I am looking to transition from short-term rentals (STR) to medium-term rentals (MTR) and would appreciate guidance on how to approach this change. Specifically, I would like to know the best ways to advertise MTR properties and the most effective platforms to list them on. In my area, we have seen a decline in vacationers, but an increase in traveling workers. We have had a few traveling workers stay with us this year, and we really enjoy hosting them. Any help or suggestions would be greatly appreciated.

Myka Artis · Answer

Hello Jennifer!

Welcome to the transition phase. If your place is already furnished and it's been operating as an STR, you're already 90% of the way there; however, it's different if you want to stay consistent with your reservations. I use Airbnb, VRBO, and Furnished Finder to get my foot in the door, and I utilize calendar manipulations on Airbnb and VRBO to attract longer-term stays. Some people impose a 30-day minimum on their listings, but I have found that this limits reservations. Therefore, I set a 30-day minimum on any nights that are 30 days or more out, ensuring my calendar remains available for future mid-term stays. One of the best ways to stay consistently booked is by connecting with insurance companies, relocation specialists, and others on LinkedIn. Connect with All That Housing, CRS, ALE, Dan Housing, etc, and they will probably have someone in need of mid-term rental housing right now. This extra effort will set you apart from your competition and put you at the front of the line for those seeking mid-term rental housing. If you do these techniques, you will have a direct line connection and won't have to depend on OTAs for your reservations.

Brian Teeter · Answer

I own and also manage LTR, STR and MTR in Little Rock, Arkansas. My market is not as much of a vacation market. But rather, more traveling workers. I also own STR in vacation market. BUT, my preference is actually MTR to STR and find that I do better over the long term. Less turnover, more consistency, etc! So I think you are on to something.

Try Furnish Finder. Its preformed well for me and is sort of know more in the traveling worker world.

Good luck!

Try Furnish Finder.  Its preformed well for me and is sort of know more in the traveling worker world.

Good luck!

Myka Artis · Answer

@Jennifer Green That would be a great resource to reach out to home builders, especially if you're in an area where people are moving and waiting to get a new home built from the ground up. All of these ideas are worth a try.

Jennifer Green · Answer

Thank you very much, I did not think of the 30 calendar manipulations because we were trying to figure out how to keep from booking so far out, just a night or two. We have been going by all the hotels in a 20-mile radius at night, seeing the work trucks and contacting the companies. I am working on reaching out to insurance companies and realtors. Have you had any experience reaching out to home builders? I thought it may be a good source while their homes are being built.

Renee Krystek · Answer

I am following this thread as I am also interested in learning more about advertising to MTR owners.

Denver McClure · Answer

Hey @Jennifer Green, feel free to PM me if you'd like to chat sometime. I transitioned a few of my STRs to MTRs over the last few years and it was a wise decision. Happy to help.

How to transition from STR to MTR

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