How to Analyze a market for Mid-term rental

Question

I just bought four SFH outside San Antonio and the cash flow is minimal but bought them for appreciation and tax benefits.

Before I start marketing them I was consider a the mid-term rental option for one of them. I'm aware of AirDNA for AirBNB data but how do you do market research for mid-term rentals?

Any help would be appreciated.

Justin Brickman · Answer

I've been very fortunate with awesome bookings and long stays for my midterm furnished rentals here in San Antonio. I try not to pay too much attention to other listings because I've noticed many hosts are more concerned with having a higher occupancy rate than a high price.

Bonnie Low · Answer

One of the easiest ways to figure out what's going on in your market is to search Furnished Finder for your particular city. While it used to be targeted just at travel nurses, that's no longer the case. You'll get an idea of how many people are searching for places in your city, what type of unit (entire house, hotel, room) and what the average rate by percentile for each of those is. You'd then want to get more granular and look at the actual properties themselves and search for location, configuration, decor and amenities similar to yours. Look at the total number of listing vs. the number of properties open during your search time frame to give you an idea of demand. You can do the same thing inside of Airbnb by filtering for 30+ day stays. It's a bit tedious, but it gets you familiar with your competition.

Charlie Tunstall · Answer

Questions to answer first;

-Based on property locations, what demographic are you targeting for tenants?..corporate travel, insurance claims, medical, divorce, relocation, etc....lot's of options and they affect your ultimate rate.

-Generic rule of thumb is 1.3 to 1.6 X LTR rate, but location and demographics can drive that higher. I transitioned my first LTR to MTR last year. It began at 1.4x but now is running 1.6+x

-Reno finishes and furnishings can also affect rent #'s

Reach out with any other questions..I'm learning as well!

Donato Callahan · Answer

I got you bro. Here's an appreciation map of San Antonio. I love investing there and am under contract for 200 units in San Antonio right now.

I use BrightInvestor to check local rents, crime stats, appreciation, renter population, rent growth, demographics, and more before buying a new property to make sure it aligns with my strategy. For MTRs, you want quiet, close proximity to hubs of traveling professionals, in an area that will see positive rent growth and appreciation.

Jimmy Dugan · Answer

MTR Analytics is a platform built exclusively for mid-term rental market and deal analysis. You can run any ZIP code or city and get AMR, occupancy, regulations, housing opportunities, etc for 30+ night stays. You can also run deals right in the platform and see how they would perform as a MTR.

Conner Olsen · Answer

I personally use Pricelabs Market Dashboard. You get all the Airbnb listings in your area, filter by 30+ days and analyze the comps to see what's closest.

Collin Mitchell · Answer

Thanks

Collin Mitchell · Answer

Thanks @charlie

@Charlie Tunstallundefined

How to Analyze a market for Mid-term rental

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