North Dallas Mid Term Rentals Locations

[Prem Rao]

Hi, 

I was wondering if anyone has any insight on strong MTR markets in the northern Dallas suburbs area? I know they are greatly appreciating but I am unsure on what aspects to consider to see which of the specific markets are valuable in this realm. Let me know what you think!

[Bruce Lynn]

@Prem Rao  For MTR if you want to go after medical travelers, I think you want to be tied into that medical network before you buy.  You want a great understanding of if they use travelers and to what extent and who those decision makers are.   Many hospitals are doing their best to cut back on travelers due to the expense and also cutting back on housing stipends.  So you want a deep understanding as to how that works.  Do they hire direct or use staffing agencies?  If using agencies which ones?  Who are the contacts there and how do you reach them?  What are the typical housing stipends if any. 

One thing I notice on some of the forums is a pretty big disconnect between what travelers are wanting to pay and what owners are wanting to charge.  To me most of the time the owners are probably charging fair rent when you think about furnishings, utilities, maintenance, yard care, maybe housekeeping, vacancy, management, and any other expenses.  However it looks like many travelers are wanting to pay closer to LTR on typical LTR type property.   So I think you need to figure out also how to bridge that gap.

Another idea is to find out where there are long term care patients that need to be near a hospital, like transplant patients or cancer treatment patients.  Not sure if there are those types of facilities in Dallas or not, but I often hear of patients travelling to MD Anderson in Houston, Mayo Clinic in MN, and Cleveland Clinic for long periods of time for long treatment periods.  I would also guess you need to be tapped into that network to be the best choice for some of those people.  They may stay months to a year for treatment.