All Forum Posts by: Allen Duan

 Correct. It does not replace the need for property insurance. It's more of a replacement for the security deposit as they only cover guest damages with some specific stipulations. We chose to use a service like this so we don't have to track and refund deposits, which is very frequent for us managing so many MTRs. So it's more of an operational benefit than just financial.

In most places, like Benjamin already mentioned, STRs and MTRs have different legal requirements and considerations. Some hosts don't require a background check and lease agreement for 30+ bookings from Airbnb. I'm one of them, but I do require them for direct bookings off OTA platforms. If you want to do a background check and lease for Airbnb bookings, you have to put it in the house rules so you have the guest agree to do it after confirming the booking on Airbnb.

We don't do mid stay cleanings, but we do expect a deeper clean after all our MTR stays. That's solely up to you and setting the guest's expectations.

Hi Shi! I also have a daughter we adopted through the foster system. I totally understand where you're coming from.

Sounds like you need to get a more confident estimate on the MTR rental income you can expect. My method to determine this is to do a manual comp analysis of properties on Airbnb and Furnished Finder. In my market, Los Angeles, FF listings tend to be less professional and underpriced, so you'll need to key into those nuances to find the right comps. 

If you're targeting professionals traveling for work, 1 bedroom spaces are ideal. Let me know how I can help in any specific ways =)

Wouldn't you have to furnish the unit you're moving into anyway? I'm not following. It's easy to furnish a MTR with little to no cash out of pocket if you can qualify for zero percent financing credit cards. Amazon, IKEA, and other furniture stores offer these.

If the worst case scenario is you have to convert back to LTR and sell the furniture, take the leap! The more important question for you is have you don't research on the MTR demand for your property and market.

I'll check my network for any MTR property managers or co hosts in Louisville. I own a MTR management company in Los Angeles and can attest to what others have said here. Most managers in this space focus on STRs and don't know how to market for MTR bookings.

Second for Waivo. They have different amounts of coverage and charge you per booking. MTR bookings are charged by the month, while STR bookings are one fee per booking. We charge tenants a fixed amount that covers the average length of our bookings.

I also considered Safely, but they're pricing becomes very expensive for MTRs

Come and meet others who are already in the MTR space or looking to get started. All experience levels welcome and there will be no sales pitch or agenda. Just connecting with great people!

If you'd like to receive email announcements for our monthly meet ups, please sign up here. https://share.hsforms.com/1lU4oJ4u6QRSBrIja8gnxWwqwk64

A little about me. I'm the co-founder of Hospy Homes, a MTR/STR property management company in Los Angeles. We started doing rental arbitrage in 2017 and since then have transitioned our business into full service property management for MTRs and STRs. Please come and ask me any questions you have! I hope to be a resource for all of you.

 Hey Julian! We don't serve the Phoenix area as of now. But if you're in need of a quality MTR manager, I can tap into my network and find you someone. Are you asking about longest MTR stays? We've had one for over a year, but that's very rare. Most MTR bookings are no more than 6 months.

I think it’s worth it for just a week or two after the current MTR booking ends. You don’t want to block the availability for your next MTR booking. If you already have a gap between two MTR bookings, then it’s definitely worthwhile to rent out dates that would go vacant. I wish I could do this in Los Angeles!