Luxury MTR Rentals

Realtor · Phoenix, AZ · Member since 2021 · 523 posts · 239 votes

Hey BP,

Who has had success with a higher end MTR strategy (North of $5K monthly rent)? How did you market it outside of the normal websites like Furnished Finder and Air BnB?

[email protected]480-818-7745

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Rachel Gainsbrugh

Real Estate Coach · Atlanta, GA · Member since 2019 · 20 posts · 22 votes

$5K per month through MTR is not just feasible, it's a life-changer. My strategy is focusing on insurance companies, but they need a 'fast' solution to move in for their temporary housing or their clients. It's not just about having a cute luxury property, but ensuring it's ready to meet these clients' needs .. And this isn't limited to one area - This month we got bookings in Illinois, Arizona, NC, NJ, NV, Texas, Wisconsin, Georgia, Hawaii, FL, California, & more. A couple of reciepts below... Don't just rely on usual channels like Furnished Finder.. especially for larger properties. We also use CHBO and our community. Major thanks to Nick and Bonnie for shoutout!!

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Bonnie LowPro Member
Lender · Asheville, NC · Member since 2016 · 1k+ posts · 1k+ votes
3y
You definitely want to follow Rachel Gainsburgh. She has mastered the luxury MTR market, specifically with insurance placements. She's very active on Instagram, podcasts and various other forums.
[email protected]
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Jamie Banks
Real Estate Consultant · Reston, VA · Member since 2022 · 513 posts · 521 votes
3y
I recently attended the MTR Summit and learned there’s a lot of opportunity for high end properties. In areas with higher home values like Cali, DC, and other expensive markets you could use a luxury property for insurance claims. When families are displaced in these expensive markets they want a house similar to (or even nicer than) their current home. ALE Solutions is a popular site to list your house for insurance relocation claims but it requires networking with insurance agencies and real estate agents to get visibility. Zillow is also another place I’ve listed and gotten messages from insurance relocation specialists and corporate clients.
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Mason WeissBusiness Member
OP
Realtor · Phoenix, AZ · Member since 2021 · 523 posts · 239 votes
3y
Quote from @Jamie Banks:

I recently attended the MTR Summit and learned there’s a lot of opportunity for high end properties. In areas with higher home values like Cali, DC, and other expensive markets you could use a luxury property for insurance claims. When families are displaced in these expensive markets they want a house similar to (or even nicer than) their current home. ALE Solutions is a popular site to list your house for insurance relocation claims but it requires networking with insurance agencies and real estate agents to get visibility. Zillow is also another place I’ve listed and gotten messages from insurance relocation specialists and corporate clients.

Thanks! Can you list an MTR on Zillow or does that go against their policy? I thought you could not advertise a STR or MTR on their site?
[email protected]480-818-7745
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Tara Sonnabend
Member since 2022 · 17 posts · 10 votes
3y
I have listed multiple MTRs on Zillow. They offer a month to month option and temporary/sublet for lease length. I hope that helps!
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Mason WeissBusiness Member
OP
Realtor · Phoenix, AZ · Member since 2021 · 523 posts · 239 votes
3y
Quote from @Tara Sonnabend:

I have listed multiple MTRs on Zillow. They offer a month to month option and temporary/sublet for lease length. I hope that helps!

Thanks Tara, do you have one active currently? I would love to see how you listed it.
[email protected]480-818-7745
1 Reply
Jamie Banks
Real Estate Consultant · Reston, VA · Member since 2022 · 513 posts · 521 votes
3y
@Mason Weiss You can list MTRs! Make sure to include that it’s furnished in the description and I list it as being available month to month
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Nick ZupecPro Member
Investor · Saint Joseph, MI · Member since 2022 · 32 posts · 44 votes
3y
We (my wife and I) are currently doing some higher end MTRs, but we are in a smaller town in the Midwest so we won't be getting north of $5K. What we are seeing is that even when traveling professionals are getting big stipends from their company or staffing agency, they often want to find lower cost places and pocket the difference. We are currently negotiating our first contract directly with the company and we are expecting a pretty decent price bump because we will getting the whole stipend that the company is willing to provide. It will also be less work for us as we won't need to find each individual guest and we won't have rental loss from vacancies.
We also attended the MTR Summit and I recommend consuming any content that Jesse Vazquez is putting out there on the B2B strategies. I also second that Rachel Gainsbrugh is a great example of success in the luxury MTR space.
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Rachel Gainsbrugh
Real Estate Coach · Atlanta, GA · Member since 2019 · 20 posts · 22 votes
3y
$5K per month through MTR is not just feasible, it's a life-changer. My strategy is focusing on insurance companies, but they need a 'fast' solution to move in for their temporary housing or their clients. It's not just about having a cute luxury property, but ensuring it's ready to meet these clients' needs .. And this isn't limited to one area - This month we got bookings in Illinois, Arizona, NC, NJ, NV, Texas, Wisconsin, Georgia, Hawaii, FL, California, & more. A couple of reciepts below... Don't just rely on usual channels like Furnished Finder.. especially for larger properties. We also use CHBO and our community. Major thanks to Nick and Bonnie for shoutout!!
6 Reply
Luke Stewart
Investor · Member since 2022 · 112 posts · 150 votes
3y
@Rachel Gainsbrugh have you found CHBO to be a great option? I have my properties listen on FF and airbnb, very little vacancy but curious about CHBO. I wouldnt call my properties luxury but definitely on the nicer side.
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Zach Edelman
Lender · New York, NY · Member since 2022 · 1k+ posts · 1k+ votes
3y
There should be some grassroots management firms as well in Phoenix, AZ that I think could fit this box. I know we have a firm that does luxury MTR listings + strategy in ATX through a firm called Hestia.
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Lori Fentem
Member since 2021 · 17 posts · 10 votes
3y
Following. I am thinking about converting my primary residence in Phoenix to a luxury MTR.
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Rachel Gainsbrugh
Real Estate Coach · Atlanta, GA · Member since 2019 · 20 posts · 22 votes
3y
Quote from @Luke Stewart:

@Rachel Gainsbrugh have you found CHBO to be a great option? I have my properties listen on FF and airbnb, very little vacancy but curious about CHBO. I wouldnt call my properties luxury but definitely on the nicer side.

CHBO can be inconsistent, but with the $300 cost easily covered by one booking, it can still be worthwhile despite its unpredictability.
1 Reply
Account Closed
Investor · Scottsdale Austin Tuktoyaktuk · Member since 2021 · 4k+ posts · 4k+ votes
3y
Quote from @Rachel Gainsbrugh:

$5K per month through MTR is not just feasible, it's a life-changer. My strategy is focusing on insurance companies, but they need a 'fast' solution to move in for their temporary housing or their clients.
@Rachel Gainsbrugh: Do you put pool tables or other types of arcade games or foos ball in any of your MTRs?

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Tara Sonnabend
Member since 2022 · 17 posts · 10 votes
3y
Quote from @Mason Weiss:

Quote from @Tara Sonnabend:

I have listed multiple MTRs on Zillow. They offer a month to month option and temporary/sublet for lease length. I hope that helps!

Thanks Tara, do you have one active currently? I would love to see how you listed it.
Hi Mason, sorry for the delay--I missed the notification for your question. Yes, here you go: https://www.zillow.com/homedet...
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Yiwei Cheng
Investor · Cincinnati, OH · Member since 2023 · 139 posts · 81 votes
3y
I would also recommend listing on VRBO and Airbnb for monthly stays. I'm in Cincinnati, and I've been getting some leads through the platforms. We also partner with local businesses who bring in traveling professionals, like vets, movie crew, artists, athletes etc. Depending on the size of the house, we are way above $5k per month.
1 Reply
Thu HuynhPro Member
Member since 2019 · 1 post · 0 votes
3y
Quote from @Yiwei Cheng:

I would also recommend listing on VRBO and Airbnb for monthly stays. I'm in Cincinnati, and I've been getting some leads through the platforms. We also partner with local businesses who bring in traveling professionals, like vets, movie crew, artists, athletes etc. Depending on the size of the house, we are way above $5k per month.
Do you create a new separate listing for the longer term stay on VRBO and Airbnb or can you just change the booking setting on your Airbnb listing to accept 30 days booking?
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Jonathan StyerBusiness Member
Real Estate Broker · Columbus, OH · Member since 2018 · 330 posts · 396 votes
3y
Quote from @Thu Huynh:

Quote from @Yiwei Cheng:

I would also recommend listing on VRBO and Airbnb for monthly stays. I'm in Cincinnati, and I've been getting some leads through the platforms. We also partner with local businesses who bring in traveling professionals, like vets, movie crew, artists, athletes etc. Depending on the size of the house, we are way above $5k per month.
Do you create a new separate listing for the longer term stay on VRBO and Airbnb or can you just change the booking setting on your Airbnb listing to accept 30 days booking?
We often go back and forth on strategies for our properties, but short answer, you can adjust the length of stay based on what you're looking to book at the time.
Styer Real Estate Professionals4.941 Reviews
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Yiwei Cheng
Investor · Cincinnati, OH · Member since 2023 · 139 posts · 81 votes
3y
Quote from @Thu Huynh:

Quote from @Yiwei Cheng:

I would also recommend listing on VRBO and Airbnb for monthly stays. I'm in Cincinnati, and I've been getting some leads through the platforms. We also partner with local businesses who bring in traveling professionals, like vets, movie crew, artists, athletes etc. Depending on the size of the house, we are way above $5k per month.
Do you create a new separate listing for the longer term stay on VRBO and Airbnb or can you just change the booking setting on your Airbnb listing to accept 30 days booking?

You change the setting based on minimum stays.
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