Pricing MTR stays

[Scott Phillips]

How do you price MTR stays, is it somewhere between STR stays and LTR rents? Also, what are typical expenses, also between STR and LTR? Need to know MTR cash flow profile so can make appropriate property offers. Thanks BP peeps!

[Bonnie Low]

It really depends on who you're marketing to and your property type. A luxury property targeting insurance placements is going to command a far higher rate than a solid 1 or 2 bed targeting travel medical professionals. Figure out who you're marketing to first. If you're going the digital nomad/travel medical route I recommend searching your area on FF and comparing your property to others that are available. Like everything in real estate, it's hyper-local. Make sure you have the same or better amenities and furnishings as your competition and price yourself comparable to your competition. It's always a bonus if you allow pets because people traveling for work very often have pets with them and have a hard time finding accommodations so you can charge a little more, plus collect a pet deposit.