Mid-term rental research- What should I look for?

Question

Hello everyone,

I just closed on a house and am exploring the possibility of turning it into a mid-term rental. The house is located by 410 and I10 highway close to the medical center in San Antonio area. I'm trying to figure out if this house would be a good mid term rental. Are there any resources that you'd recommend? I'm about to start my research but not sure where to start. Thanks in advance.

Sylvia Santelli · Answer

If there are people there will be a need for MTR-- getting your location, unit size and pricing to align is the magic sauce. Pull out a spreadsheet and go through the tools everyone mentions to run some comparables and take note of photos, amenities.

Zachary Deal · Answer

Check Furnished Finder, Zillow, as well as AirBnb and VRBO (30+ day stays) to see what sort of competition is in that specific market. Going to local RE events and finding other MTR investors in your area can help as well

Gabriel Fung · Answer

Similar to the comments above on using FurnishedFinder, also check Airbnb and sort for 30+ day rental options. in addition, I'd recommend talking to the local university and hospitals nearby by calling to their various departments.

Bryant Xavier · Answer

Daniel,

Congrats on closing on the property. Wish you the best.

If I was you, first step is evaluating costs associated with doing MTR and comparing with potential rental income to see if it makes sense to do LTR or MTR.
I'd ask some realtors you know in the area and see if any realtors do mid term rentals. We do a lot of mid term rentals from universities near by, and traveling professionals. We use furnish finders, have connected with some faculty on campus at the university nearby and have even gotten in contact with hospitals nearby to hopefully get traveling nurses soon, too. We work with an agent who specializes in leases and let her know of the properties we have available for MTR and she brings in a few reservations every year.

Hope this helps!

Justin Brickman · Answer

What was your goal when purchasing this property?

Sofia Komrskova · Answer

Look on furnished finder for some comparable properties. How large is the property? If you are thinking of targeting travel nurses just know that most of the demand is in the 1-2 BR space. You might try corporate housing by owner, or try getting in contact with some insurance companies for replacement housing, or traveling work-crews, etc.

Mid-term rental research- What should I look for?

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