All Forum Posts by: Allen Duan

ALE solutions and CRS are the big ones for us. I wonder if it varies by market. I'm in Los Angeles.

What I'm curious about is if you have a strategy to get bookings from the companies, beyond them finding your listing somewhere and adding your property to their databases. 

My best tools are Airbnb and Furnished Finder for manually looking up comps :)

Quote from @Nicole Heasley Beitenman:

I don't know where Allen Duan is located, but he's very knowledgeable on MTR PM's. He's a regular here on the MTR forums. BP won't let me tag him for some reason, so here's a link to his profile: https://www.biggerpockets.com/users/allenduan

Thanks Nicole! I'm honored.

Ruben, I own a MTR management company in Los Angeles. We've actually started taking clients in Denver and north Colorado this year. Happy to chat.

Self managing a MTR is totally doable. Most of the work is in the marketing, operations are easy once you have your team in place. But we find some MTR owners are short on time and rather trade money for time by hiring a PM. Everyone has different needs :)

Hello from Torrance!

Definitely use a lease and background check. This is typical in CA and tenants expect both. 

We have a bunch of MTRs we manage in SoCal. I'd love to be a resource for you. 

Are these companies asking to do rental arbitrage with your property? Usually RA operators are paying long term rental rates to the owner and then subletting as a STR or MTR. If they are offering you MTR rates, that's pretty amazing and I don't know how they would make a profit. Either way, make sure to heavily vet these operators. Ask to speak with their other landlords. You want to see that they have a great track record.

We manage MTRs in Los Angeles and have no problem listing on Furnished Finder. Where are you getting stuck at specifically?

FF has it's pros and cons, but you should think of it as just another tool for marketing your MTR. At the minimum, the lead data gives you great insight into the MTR demand for your market.

Hello! My company Hospy Homes provides property management services in Los Angeles and north Orange county for furnished rentals.

If you are self-managing a STR or MTR and want to buy back your time, please reach out!

If you have a long term tenant moving out and have been considering converting the property to a MTR, I'd love to provide you a free MTR analysis so you can see how it'll perform as a MTR. 

Let's talk. I want to learn about your challenges and explore if there's any way I can help!

In Los Angeles, our 1 bedroom and 3 bedroom properties have the most demand. My theory is that 2 bedroom units are too much for an individual or a couple, while being too small for most families. 3 bedroom homes should perform well in most markets as they appeal to the typical American family size. 

There are many other factors to consider besides bedroom count and of course you need to research your specific market. There could be a market where 2 bedroom units do better than 3 bedroom, so take the general advice you get here and dig into the specifics for your situation =)

Hi Rabya! I just spoke with someone at a monthly MTR meet up I host last week who took this course. I'll DM you if you'd like to connect with her

Every market will be different. In Los Angeles, we've seen a significant drop in 2023 vs 2022 in travel nurse demand, both the number of travel nurses looking for housing and their budgets. For example, in 2021 and 2022 we we're getting regular bookings from travel nurses for $3500-4000 for 1 bedrooms. Most travel nurse leads we see on Furnished Finder in 2023 and today have budgets around $2000 for LA. 

But there is no reason to target only travel nurses with a MTR, you definitely should not limit yourself on who you market your property to. Our 1 bedroom units still do well renting for around $3500 last year, it's just the type of tenant that has changed over the last few years.