Blending LTR and MTR on the same property
I am currently under contract on a duplex. The main part of the house is a 3/1.5 and it consumes the front part of the building. The back of the building has an attached studio "cottage". I am thinking that about setting the the 3/1.5 up for an LTR and then furnishing the studio to use as an MTR, since the property will be 1-2 miles from one of our major hospitals. Has anybody ran into any issues with blending their property as a LTR and an MTR?
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#3 Medium-Term Rentals Contributor
- Property Manager
- Los Angeles, CA
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#3 Medium-Term Rentals Contributor
- Property Manager
- Los Angeles, CA
This is a great idea to mix up the usage of a multi family property to best meet your goals. The LTR will bring you stable predictable income while the MTR will give you higher potential income.
We have a couple properties we manage in a MF building with LTR in the other units. As long as the LT tenants understand what's going on and you're considerate of their needs (privacy, safety, noise) I don't see any issues with it.
Good luck!