Small Town MTR Win

[Jamie Banks]

I often get asked where the best market is for MTRs and I wanted to provide a case study that shows that MTRs can work in any market. 

Market: Small town in Indiana, 60 miles from Indianapolis

Property Type: 1 BR / 1 BA apartment in a 4 unit building

The property has moderate furnishings that were mostly ordered from Amazon and Wayfair

Long term rent: $625

Medium term rent: $2,100

[Bonnie Low]

Quote from @Allen Duan:

Do you find there's enough demand to fill your calendar in a small town? If yes, do you think the market would get saturated more quickly than a large city once more MTRs are set up? 

 I'm in a relatively small town, Allen. Redding is ~90k people. Definitely not a major metro. I have constant demand for my MTR and, in fact, have 2 people on a waiting list right now. I think I've had a total of 5 vacant days since we started over a year ago and that's only because we needed an extra day on our last turn to swap out the water heater in the unit. While all of my guests so far have been traveling medical professionals (and one digital nomad spouse), I have constant inquiries from all kinds of travelers. We have a large church here that has a seminary program for schooling so a lot of the inquiries are from folks needing longer stays for that reason. I also get a lot of seasonal and construction-related workers inquiring about the space. Our hospitals use a lot of travelers so demand is high. I also see a lot of units in our market on FF not getting rented and it's always for the usual reasons: outdated decor, over priced, and the location isn't great or isn't commensurate with the rates they're trying to get. I think this is pretty standard in most areas based on the number of hosts I have talked to all over the US.