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Updated about 1 month ago, 11/19/2024

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2
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Chris Lee
2
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Mixing MTR and STR, and value of having a direct booking website

Chris Lee
Posted

I'm new to RE rental investment. We are finishing up some renovations on a house with an in-law on Cape Cod. Our plan is to rent each of the 3 bedrooms of the main house as mid terms and the in-law as a long term (already have a tenant in there). We're also considering the idea of doing short term during the summer season and mid term the remainder of the year. A couple questions for the group.

How challenging is it to mix STR with MTR in this way? I envision a clumsy turnover approaching summer where we have MTR vacancies because our calendar would not be open to book 3 month MTRs starting in April. Does anyone have any experience they can share?

How much value would a web site with direct booking bring to this kind of arrangement as compared to listing on Furnished Finders, VRBO, etc, particularly if we stick with the mid terms. I believe a web site would be able to consolidate the outside listings and some of the recruiting and marketing processes so I see that there would be some time savings for us, but how much and is it worth the costs? We don't currently have a PMS but would likely shop for one if we buy a web site.

Thanks in advance for any thoughts.

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