MTR in Southern California
Hi, I'm looking to start MTR business in Socal. I'm looking to target travel nurses, corporate professionals, and insurance displaced individuals. What kind of properties should I target? 2/1 apartment units? Studio units? What city would be great for my first MTR unit? How much can I expect to furnish each property?
Most Popular Reply
#3 Medium-Term Rentals Contributor
- Property Manager
- Los Angeles, CA
- 463
- Votes |
- 590
- Posts
#3 Medium-Term Rentals Contributor
- Property Manager
- Los Angeles, CA
Hi Alex! I own a MTR management business with 25 MTRs in Los Angeles. I would target 1 bedroom units and/or 3 bedroom and larger. Could be SFHs or small multi family. Over the last 4 years, 2 bedrooms have performed the worse than the 1 bedroom or larger homes. I believe it's because individual travelers will choose the 1 bedroom and families prefer 3 or more bedrooms.
The right property pretty much anywhere in LA can work well as a MTR. You need to identify what kind of tenant the specific property will appeal to and make sure it makes sense for the location.