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Medium Term Rental in Arlington, TX
Hello All,
Just chiming in here to see if anyone has experience using the Mid Term Rental strategy in the DFW area? I currently have my first rental property under contract that I am planning to utilize as a LTR. However with the recent buzz regarding Mid Term Rentals I’m considering pivoting into this strategy. The home is a 3/2 @ roughly 1300 sq ft located within a 10 mile radius of 3 hospitals. I am planning on listing on Furnished Finder to see if I can draw any interest. Just wanted to see if anyone has experience with this size home as a mid term rental.
Hey Steve, I have a STR with about that square footage. Happy to share my experience with you if it would be helpful!
@Steve Garcia, would love to hear how it is going. I have done MTR with my plexes with excellent success following teachings of Jesse Vasquez, Zeona McIntyre, Al Williamson. I have a 3/3 house in Arlington I am looking for MTR management for.
From what I have found there are three major vendors for management services of MTR.
--Zeus Living. Billion dollar company. Owned by Airbnb. I have a triplex I am presently onobarding with them. They're constantly expanding but not yet in DFW.
--Avenue West. Franchise MTR company. There is supposed to be a DFW franchise but I have reached out to their head office many, many times by email and phone. Only spoke to a real person once. They've ignored everything else.
--Landing. More of an OTA than management company. You make your own listing with them, are in charge of all furnishings and maintenance. They find, vet, and place tenants, handle all communication. Reasonable fees I think 10%. They spend over $1MM/mo in digital advertising and keep their units full. But you have to be boots on the ground. They are in DFW and virtually every other city of any size in the US.
How is your property going?
Quote from @Steve Garcia:
Hello All,
Just chiming in here to see if anyone has experience using the Mid Term Rental strategy in the DFW area? I currently have my first rental property under contract that I am planning to utilize as a LTR. However with the recent buzz regarding Mid Term Rentals I’m considering pivoting into this strategy. The home is a 3/2 @ roughly 1300 sq ft located within a 10 mile radius of 3 hospitals. I am planning on listing on Furnished Finder to see if I can draw any interest. Just wanted to see if anyone has experience with this size home as a mid term rental.
Hi Sandor! I have had some success thus far once I went live with my MTR in January. I had a 31 day booking via Airbnb and I currently have a tenant in there now for at least a 2 month stay that I sourced from Furnished Finder. There was a lot of activity with interest from insurance agencies, but I was not able to land a contract. However I do have direct contacts now and I know what they pay.
Hello @Steve Garcia
I've taken the plunge and I also have a 3/2 half duplex in the Arlington, TX area. I just completed furnishing the property and listing it on Furnished Finders. So far, I've had a few leads but I haven't had a booking yet. I'm currently checking out some of the teachings that @Sandor Lau mentioned. Have you had any luck so far? I'd love to hear how it's going for you. :)
Hi @Sandee Sampson and congrats for taking the plunge! I currently have a tenant in place now from a direct booking inquiry on FF. The first booking I had was from Airbnb.
I must say travel nurses does not appear to be drawing enough interest in the Arlington area at least for now, but there are a few leads that are requesting rather low rent. There is a demand for people relocating or in town for work.
I have had contact and interest with ALE solutions. I suggest you list your property there as well. As far as the 3 platforms Sandor mentioned I have not had contact.
I wish you the best of luck! If you have any questions feel free to reach out.
Howdy! :) Thanks so much for the quick reply, @Steve Garcia!
I just registered with ALE Solutions and I'm checking out Jesse Vasquez as you suggested.
Would you suggest listing on AirBnB as well?
Again, thanks so much for responding with your insights.
Absolutely list on Airbnb. Majority of your traffic will come from that platform. The book 30-day-Stay is a great resource as well to guide you through building your listing. Hospitable is a great platform as well that I used to build my digital guidebook.
Quote from @Steve Garcia:
Absolutely list on Airbnb. Majority of your traffic will come from that platform. The book 30-day-Stay is a great resource as well to guide you through building your listing. Hospitable is a great platform as well that I used to build my digital guidebook.
@Sandee Sampson Sorry the guidebook platform I used was Hostfully.