Updated almost 2 years ago on . Most recent reply
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
- 461
- Votes |
- 581
- 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.