STR on a non primary residence

[Chase Puckett]

Now that denver doesn't allow STR on non primary homes, what are you guys? I have been running mine as a MTR and it is performing well but not as good as STR. Any advice helps.

[Yash Bhatt]

Quote from @Chase Puckett:

Now that denver doesn't allow STR on non primary homes, what are you guys? I have been running mine as a MTR and it is performing well but not as good as STR. Any advice helps.

What are the rules for MTR? We ran an MTR last year in Phoenix and it ended up out-performing the STR projections. There are definitely strategies to maximize revenue as an MTR, such as:

1) Make sure you have good design and specific amenities that people staying longer than a few weeks would want. A lot of MTRs or longer term furnished rentals are just not very nice usually.
2) call a bunch of relocation companies and partner with them so that families who need temp housing due to repairs happening in their house can be relocated to yours. The insurance company will front the money and they usually pay really well. One example is ALE solutions.
3) list on places like furnished finder to target traveling doctors and nurses. You can also find the placement agencies for your nearby hospitals and tell them you have a furnished rental available. Make sure you have amenities that a traveling provider who might be working night shifts would want like access to good coffee and black out shades. 
4) check out your competition on Zillow and furnished finder and make sure your rental stands out and offer some unique amenities. 

 
these are just a few ideas. MTRs can do really well when run properly!

Cheers,
Yash