Self Manage Or Rent to An Arbitrage Company?

[Neil Smith]

BP friends,

My wife and I have a house in Arvada, CO. It's a 5 bed, 4 bath 4000 SF single-family home that we're currently using as a short-term rental. An arbitrage company recently approached me indicating that they'd like to market it as an MTR property and are offering to pay us, per month, about what we're making per month. My first thought was that to be able to make the same amount of $ per month without actively managing it sounds pretty enticing. But, my second thought was that if the arbitrage company is able to generate substantially more per month than I currently do, then why can't I?

We have it listed through RedAwning, a company that markets the property on many of the usual channels - AirBnB, Booking.com, VRBO etc.

The home isn't super close to anything, but is relatively close to a lot of things. Hospitals, Golden CO, Denver CO, Boulder CO, Olde Town Arvada etc. are all within a 20-30 minute drive.

From your experience(s), what else can I be doing to generate more and higher-dollar bookings with this property?

Here's a link to the AirBnB listing

Thanks in advance for any advice from experienced MTR investors.

Neil

[Brett Deas]

I think its great to be able to charge more and not have to deal with tenants. So if they are offering to rent it from you at a higher price than I see no reason why not. 

Something I have also learned about the MTR market in Denver, not a lot of travel nurses if you have 2+ bedrooms. Typically traveling medical pro's only travel alone, or with one spouse/pet. Not often do they bring a family. That being said the market for relocating and traveling families is huge. I have only had 2 travelling medical professionals at my MTR's but we get a ton of digital nomads and relocating families. For reference my condo's are 3/2's in Cap Hill.