Convert a STR to MTR/LTR

[Sam Liu]

I have a STR house in a resort town, but the city's new stricter policies have really cut into my revenue. I'm thinking about switching to MTR/LTR with furniture included. In this area, people usually rent for 1-12 months, and the rent is 30-50% higher than unfurnished LTR. Has anyone else made this switch from STR to MTR/LTR? Did it lead to more damage to the furniture/property and end up lowering your ROI? I got an inquiry from a family with a mid-size dog.

[Collin Hays]

Quote from @Sam Liu:

I have a STR house in a resort town, but the city's new stricter policies have really cut into my revenue. I'm thinking about switching to MTR/LTR with furniture included. In this area, people usually rent for 1-12 months, and the rent is 30-50% higher than unfurnished LTR. Has anyone else made this switch from STR to MTR/LTR? Did it lead to more damage to the furniture/property and end up lowering your ROI? I got an inquiry from a family with a mid-size dog.

You will have more wear-and-tear, simply because someone is occupying the house all of the time. With STRs, there are many days out of the year that they are empty. Even when they are occupied, guests are often away at attractions, with the house being more of a sleepover post than something they are living in.