Shortterm rentals in the Tacoma Area

[Tony Spencer]

Anyone having success running an STR business in Tacoma? Any agents out there specializing in this? Im curious to learn more specifically about this market and its potential. Buying a SFH and adding an ADU to rent both separately seems to have some potential.

[Brandon Vukelich]

I own a 3-unit in Old Town with water views with of couple partners.  Two units are large 2/2.5 units and the 3rd is small studio.  We closed on it basically the week covid hit FEB 2020 but managed to stay in the black with long term leases.  There is a hefty amount of competition all over Tacoma.  We returned to full STRs by early 2021 for the two large units and remain full in the studio with traveling nurses that typically stay 2-3 months at a time.  Similar to Stacy's comments.  I'd say our mix of guests are nurses, family visiting local, international tourists and people coming to town to house hunt.  I'm not a fan of owning STRs, this will most likely be the only one I own but the returns are better than my boring, long-term properties. :)