All Forum Posts by: Shannon Ilas
Shannon Ilas has started 1 posts and replied 5 times.
Post: Month to month or STR?
- Real Estate Broker
- Portland, OR
- Posts 5
- Votes 0
Originally posted by @Zambricki Li:
@Shannon Ilas I have properties that I do str and switch to seasonal/work from home people as needed in off peak. I have others which are pure long term. Also an agent in CA/NV.
There is a great Mitch Hedberg quote “escalators don’t break they just become stairs”
I like to say "STR's don't break they become LTR's"
The upside is worth the risk and setup. You can get 10X for str if it’s the right location.
Love that quote! I can do the rental as a month to month LTR, but was hoping to convert to STR as needed if there's a gap between rentals. Have you hard large gaps when you've switched to LTR in the off season?
Post: Month to month or STR?
- Real Estate Broker
- Portland, OR
- Posts 5
- Votes 0
It looks like I can only use it as an STR if I also live on the property within the Portland city limits and some other nearby cities, which isn't my intention. Will need to keep digging.
Post: Month to month or STR?
- Real Estate Broker
- Portland, OR
- Posts 5
- Votes 0
Originally posted by @Dustin Allen:
Monthly/seasonal rentals have been commanding premium rates in my market for some time now. That is one way owners are getting around not having a short term rental permit because of the way our ordinances are written. They typically command somewhere in between short term and long term rates. Some are getting straight short term rates for their monthly/seasonal rentals as well.
Dustin, you're in Lake Tahoe, so are you seeing monthly rentals that aren't vacationers?
Post: Month to month or STR?
- Real Estate Broker
- Portland, OR
- Posts 5
- Votes 0
There's a need, but I'm wondering if anyone has experience with a STR being used in this manner. It's technically long term, but for a few months rather than a year lease. Will there be long stretches where it's not being rented? Or will I be able to keep it steady with vacationers when it's not being used by clients? Portland used to be a vacation destination and probably will be again, but currently has some rebuilding to do. I'm looking at a property in a suburb where there aren't any AirBnb/VRBO properties right now as well as closer to the city center.
Post: Month to month or STR?
- Real Estate Broker
- Portland, OR
- Posts 5
- Votes 0
I'm a realtor in the Portland, OR area. With the current market, I often have clients sell their home quickly and need to rent 1-2 months while looking for a property to buy, or are moving here and need a place short-term. Often they have dogs or kids and want a home with a yard rather than a condo. Agents in my office are constantly looking for a short-term rental as well. Would it make sense to buy a property that can be rented short term, or look for long term renters? I have a vacation rental on the coast and am ready to buy my next investment property, but not sure which direction to go. Is m2m rather than STR or LTR a viable business model?