Newbie - What's everything I need to know about the MTR strategy?

Question

I'm a first time landlord and I listed a property for LTR, but have a MTR travel nurse who is interested and qualified. Other than furnishing the space and the shorter lease, what do I need to know about the MTR strategy?

• How does seasonality effect vacancy in Colorado?
• What do I need to know/do to be competitive for MTRs?
• Any other tips would be greatly appreciated.

Dan H. · Answer

There are books dedicated to the subject so this is a partial list:

- the vacancy is typically higher than LTR and we’ll run MTR

- the increased revenue typically compensates for the increased costs (utilities, furnishings, tenant turn overs, etc) and effort but mostly does not increase profit substantially.

- US made furniture is worth the additional cost in the long run.

- furnished finder is most used OTA for mid term rentals but Airbnb and VRBO also have MTR support.

- in most jurisdictions an MTR tenant has the same protections as a LTR tenant.  Make sure your lease agreement is rock solid.

Good luck

Drew Sygit · Answer

Check out competition on Furnished Finders.

Aditya Kumar · Answer

Well I worked for an MTR based out of Chaffee County, CO. So that was the entire Mt. princeton/Buena Vista belt so the demand was mostly tourism driven. Primary peak in revenues June-Aug and a secondary surge Nov to Feb. Now this equation totally changes based on your location in CO, and what drives the 6-12 months housing demand in your region.

Also, furnished finder is a good listing option. And set minimum stay on Airbnb to 28-30+ days.

The MTR rates are higher than LTR rates but expect more volatility than LTRs.

Newbie - What's everything I need to know about the MTR strategy?

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