All Forum Posts by: Allen Duan

Hey Renee! How about MTR? That can help you get more cashflow and doesn't fall under the STR regulations. My company manages 25 MTRs in Los Angeles. Let me know how I can help =)

Some rough numbers. If the ADU is a one bedroom, MTR rents are $3000-4000. For a 2 bedroom, MTR rents are $4000-5000.

Hi Casey! I'm a MTR guy here in LA. Do you think mid term rentals could be a good option for your client? I'm happy to provide some analysis and numbers on the property. We manage 25 MTRs in and around LA.

Hi Krysten! I'd love to connect and help anyway I can. I know a great MTR operator, Linda Allen, in your area. She may be here in BP, but DM me and I can connect you as well.

I'm in Los Angeles if you're ever interested in the MTR market here =)

Hi Michael, my quick answer would be to list on Airbnb as well. What kind of tenants will your property attract? That will determine the best marketing strategy to get your listing in front of the right eyes.

Meet ups where nothing is being sold are gold. I'm part of an Asian American real estate group called SARE with multiple chapters in SoCal. They're meet ups are great and open to all ethnicities. 

Another option that's worked well for me are Facebook groups. Most are crap but there are a few that have been great for growing my network. I'm focused on the MTR niche.

I've looked into Oakhurst and there's definitely opportunity there. I spoke with one STR owner who shared a lot of insights. I also know an owner of a STR management company that serves the area.

Those vacation towns are STR friendly, but Michael is right, a lot of urban areas don't allow STRs in CA. I manage STRs and MTRs in Los Angeles and most are MTRs because of that reason.

I've never heard of Future Stay either. Are they a listing site? We use Hostfully as our PMS and list our properties on Google through their intergration.

Ahh, dynamic pricing for MTRs. This is a common question I see. You can force a tool like Pricelabs to work for MTRs, but it's not designed for it. I've tried it and decided to stick to manually implementing my MTR pricing strategy. You do need the dynamic element, MTR pricing shouldn't be the same across the board for every month. The question is HOW you want to update the prices and WHAT your pricing strategy is.

It's going to vary by market but I'll share my experience with 25+ MTRs in Los Angeles.

Booking lead time is 2-4 weeks. It varies by property size as well. Seasonality also matters. For example September is always slow right after summer ends. 

If you're only using Furnished Finder, you're limiting yourself. Airbnb brings in many MTR bookings and there are other strategies for insurance and corporate bookings. Zillow is good too.

Great thoughts from others already. I'll add my two (or more) cents.

Urban markets tend to do well for MTRs. If you think about all the different types of MTR tenants, many of them are in urban markets with higher population density. Best way to start looking into this is checking comps on Airbnb, look for 30 day min listings and see how they're priced, who's booking (by checking reviews), how the best performing MTRs are set up.

Start ups costs are very similar to STRs. Furnishing, design, photography, etc. Operating costs are similar as well. Compared to LTR, you have to pay utilities, supplies for guests, possibly more insurance.

Let me know how else I can help! MTRs are my thing. My company manages MTRs in SoCal and Las Vegas.

Depends on the market! There's two parts to this question I see: the ideal property and the ideal client/owner =)

For property, it depends on what's in demand in that market and your goals. For example, we have a minimum rent we're aiming for when we manage other properties because it's not worth it for us to manage a small property.

The ideal client is someone who truly wants to be hands off and hire an expert to manage their MTR.