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Seeking Mid-Term Rental Connections
I am currently operating my mid-term rental in Hollywood, FL. I did get my first guest, on AirBnb, who booked for 70 nights. While i'm happy, and relieved, I don't want to take my foot off-the-gas, and ensure i'm positioning myself for consistent stays. Ideally, I want more booking through Furnished Finder (to cut down on AirBnb fees), as well as direct from insurance providers, relocation specialists, etc. I reached out to a few companies via email, trying to introduce myself and my property, but haven't heard back yet. I know it's a slow burn, but if anyone has any recommendations as to who I should connect with, whether a business, or an investor in the Dade/Broward area, I am open to any and all suggestions, and I welcome collaboration.
You might be well off also posting this in a Facebook group specifically for Fort Lauderdale, FL investors. I find that when it comes to local advice, Facebook groups are typically the best place to go.
Quote from @Zach Edelman:
You might be well off also posting this in a Facebook group specifically for Fort Lauderdale, FL investors. I find that when it comes to local advice, Facebook groups are typically the best place to go.
You're probably right, appreciate it.
Assuming you've already registered your home with ALE Solutions ? They are pretty hard to get in contact with over email so I would give them a call every once in a while to ensure that your property is registered and to see if they are currently looking to place someone in your area.
I have had insurance companies reach out to me through my MTR listing on Zillow. I would list your property on Zillow's platform and have some of these companies reach out to you directly.
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Real Estate Agent
- 480-818-7745
- [email protected]
Newbie here! What do you guys mean by insurance providers? What's their relation to the MTR market? @Matthew Perez @Mason Weiss
Quote from @Angelica Gray:
Newbie here! What do you guys mean by insurance providers? What's their relation to the MTR market? @Matthew Perez @Mason Weiss
Hey Angelica, insurance companies will look for temporary housing depending on a housing claim that they are working through. For example, if a family is displaced due to extensive water damage that will take a few months to repair, the insurance company will then look to find temporary housing for their customer/displaced family. Often, these insurance companies are able to pay a higher rate and desire a nice property to ensure they keep their customer happy as they go through an extensive claim.
-
Real Estate Agent
- 480-818-7745
- [email protected]
Quote from @Matthew Perez:
I am currently operating my mid-term rental in Hollywood, FL. I did get my first guest, on AirBnb, who booked for 70 nights. While i'm happy, and relieved, I don't want to take my foot off-the-gas, and ensure i'm positioning myself for consistent stays. Ideally, I want more booking through Furnished Finder (to cut down on AirBnb fees), as well as direct from insurance providers, relocation specialists, etc. I reached out to a few companies via email, trying to introduce myself and my property, but haven't heard back yet. I know it's a slow burn, but if anyone has any recommendations as to who I should connect with, whether a business, or an investor in the Dade/Broward area, I am open to any and all suggestions, and I welcome collaboration.
Before you abandon Airbnb I would see if your rates are better on FF. I make an extra $300/month after fees on Airbnb. In my case Airbnb has the most eyeballs and getting me the highest rates, definitely not the same for all markets.
Quote from @Allen Wright:
Assuming you've already registered your home with ALE Solutions ? They are pretty hard to get in contact with over email so I would give them a call every once in a while to ensure that your property is registered and to see if they are currently looking to place someone in your area.
I did send over an email a few days ago. I'm guessing I have a low chance of a response via email?
Quote from @Conner Olsen:
Quote from @Matthew Perez:
I am currently operating my mid-term rental in Hollywood, FL. I did get my first guest, on AirBnb, who booked for 70 nights. While i'm happy, and relieved, I don't want to take my foot off-the-gas, and ensure i'm positioning myself for consistent stays. Ideally, I want more booking through Furnished Finder (to cut down on AirBnb fees), as well as direct from insurance providers, relocation specialists, etc. I reached out to a few companies via email, trying to introduce myself and my property, but haven't heard back yet. I know it's a slow burn, but if anyone has any recommendations as to who I should connect with, whether a business, or an investor in the Dade/Broward area, I am open to any and all suggestions, and I welcome collaboration.
Before you abandon Airbnb I would see if your rates are better on FF. I make an extra $300/month after fees on Airbnb. In my case Airbnb has the most eyeballs and getting me the highest rates, definitely not the same for all markets.
I agree. From a platform standpoint, AirBnb is too powerful. However, my goal is to have several avenues for bookings, so I am not solely dependent on AirBnb. Especially for MTR, I want to establish relationships with these companies to lock down my niche. While I would gladly accept an AirBnb booking, my property is less a vacation rental, and more a utility for traveling professionals/displaced families.
Quote from @Mason Weiss:
Quote from @Angelica Gray:
Newbie here! What do you guys mean by insurance providers? What's their relation to the MTR market? @Matthew Perez @Mason Weiss
Hey Angelica, insurance companies will look for temporary housing depending on a housing claim that they are working through. For example, if a family is displaced due to extensive water damage that will take a few months to repair, the insurance company will then look to find temporary housing for their customer/displaced family. Often, these insurance companies are able to pay a higher rate and desire a nice property to ensure they keep their customer happy as they go through an extensive claim.
Exactly. On top of that, I want to work with hospitals/relocation specialists who find housing for traveling healthcare professionals. Could be another niche avenue for bookings. At some point, I plan to add properties, so I can bring more value to these relationships. I want to provide several locations, and it increases the likelihood that they will reach out me, and a higher chance I have availability.
1. Make sure you are on all the platforms.
2. For FF tenant have a direct booking site where they can finalize their reservation.
3. My best source to connect with traveling agencies as been furnish finder. Every once in a while I get an agency asking about my listing. Even if I can't accommodate the one they are asking about specifically, I make an effort to build a relationship with the agency.
4. Have teams to handle repairs promptly.
Quote from @Matthew Perez:
Quote from @Conner Olsen:
Quote from @Matthew Perez:
I am currently operating my mid-term rental in Hollywood, FL. I did get my first guest, on AirBnb, who booked for 70 nights. While i'm happy, and relieved, I don't want to take my foot off-the-gas, and ensure i'm positioning myself for consistent stays. Ideally, I want more booking through Furnished Finder (to cut down on AirBnb fees), as well as direct from insurance providers, relocation specialists, etc. I reached out to a few companies via email, trying to introduce myself and my property, but haven't heard back yet. I know it's a slow burn, but if anyone has any recommendations as to who I should connect with, whether a business, or an investor in the Dade/Broward area, I am open to any and all suggestions, and I welcome collaboration.
Before you abandon Airbnb I would see if your rates are better on FF. I make an extra $300/month after fees on Airbnb. In my case Airbnb has the most eyeballs and getting me the highest rates, definitely not the same for all markets.
I agree. From a platform standpoint, AirBnb is too powerful. However, my goal is to have several avenues for bookings, so I am not solely dependent on AirBnb. Especially for MTR, I want to establish relationships with these companies to lock down my niche. While I would gladly accept an AirBnb booking, my property is less a vacation rental, and more a utility for traveling professionals/displaced families.
Totally get it, I'm in the same boat! It's great to have multiple lead sources.
Quote from @Matthew Perez:
Quote from @Mason Weiss:
Quote from @Angelica Gray:
Newbie here! What do you guys mean by insurance providers? What's their relation to the MTR market? @Matthew Perez @Mason Weiss
Hey Angelica, insurance companies will look for temporary housing depending on a housing claim that they are working through. For example, if a family is displaced due to extensive water damage that will take a few months to repair, the insurance company will then look to find temporary housing for their customer/displaced family. Often, these insurance companies are able to pay a higher rate and desire a nice property to ensure they keep their customer happy as they go through an extensive claim.
Exactly. On top of that, I want to work with hospitals/relocation specialists who find housing for traveling healthcare professionals. Could be another niche avenue for bookings. At some point, I plan to add properties, so I can bring more value to these relationships. I want to provide several locations, and it increases the likelihood that they will reach out me, and a higher chance I have availability.
You can never have to many leads. The more relationships and marketing channels you build will only benefit you in the long run.
-
Real Estate Agent
- 480-818-7745
- [email protected]
Quote from @Matthew Perez:
Quote from @Allen Wright:
Assuming you've already registered your home with ALE Solutions ? They are pretty hard to get in contact with over email so I would give them a call every once in a while to ensure that your property is registered and to see if they are currently looking to place someone in your area.
I did send over an email a few days ago. I'm guessing I have a low chance of a response via email?
Quote from @Matthew Masoud:
1. Make sure you are on all the platforms.
2. For FF tenant have a direct booking site where they can finalize their reservation.
3. My best source to connect with traveling agencies as been furnish finder. Every once in a while I get an agency asking about my listing. Even if I can't accommodate the one they are asking about specifically, I make an effort to build a relationship with the agency.
4. Have teams to handle repairs promptly.
Thank you!
@Matthew Perez you aren't going to see too many hospitals contracting housing these days from what I understand. Used to be common in the past but not anymore.
Congratulations on your successful start in Hollywood, FL! To boost bookings, connect with local realtors, engage real estate investors, partner with relocation experts and insurers, offer business rates, target healthcare travelers via Furnished Finder, collaborate with property managers, amp up online advertising, improve your listing, attend networking events, and follow up with potential clients. Building a strong network takes time, but collaboration with industry peers can lead to success for your mid-term rental. Good luck!
@Angelica Gray If an insured house catches fire, insurance companies pay for family to stay in temporary housing.
Quote from @Mason Weiss:
Quote from @Angelica Gray:
Newbie here! What do you guys mean by insurance providers? What's their relation to the MTR market? @Matthew Perez @Mason Weiss
Hey Angelica, insurance companies will look for temporary housing depending on a housing claim that they are working through. For example, if a family is displaced due to extensive water damage that will take a few months to repair, the insurance company will then look to find temporary housing for their customer/displaced family. Often, these insurance companies are able to pay a higher rate and desire a nice property to ensure they keep their customer happy as they go through an extensive claim.
Oh, interesting! Thanks for breaking it down!
Quote from @Mason Weiss:
I have had insurance companies reach out to me through my MTR listing on Zillow. I would list your property on Zillow's platform and have some of these companies reach out to you directly.
I am currently on Zillow as well. Is there anything you mentioned/listed specifically that would attract an insurance company?
Quote from @Matthew Masoud:
1. Make sure you are on all the platforms.
2. For FF tenant have a direct booking site where they can finalize their reservation.
3. My best source to connect with traveling agencies as been furnish finder. Every once in a while I get an agency asking about my listing. Even if I can't accommodate the one they are asking about specifically, I make an effort to build a relationship with the agency.
4. Have teams to handle repairs promptly.
Thank you! I am listed on Furnished Finder, for almost two months now. Unfortunately. haven't had much success, as I have yet to receive a direct booking request. I have received two general housing requests, but 98% is unmatched housing requests, to which i've responded to all, regardless of whether it matches up or not.
Do you use FF message, or do you text/email the client off the platform?
Quote from @Jay Thomas:
Congratulations on your successful start in Hollywood, FL! To boost bookings, connect with local realtors, engage real estate investors, partner with relocation experts and insurers, offer business rates, target healthcare travelers via Furnished Finder, collaborate with property managers, amp up online advertising, improve your listing, attend networking events, and follow up with potential clients. Building a strong network takes time, but collaboration with industry peers can lead to success for your mid-term rental. Good luck!
Thank you! I know it's a slow burn at first, just want to ensure i'm taking advantage of all avenues. When you say online advertising, I assume you mean off-platform? If so, what do you recommend, specifically? Anything I can do to increase exposure on FF, specifically?
Quote from @Matthew Perez:
Quote from @Mason Weiss:
I have had insurance companies reach out to me through my MTR listing on Zillow. I would list your property on Zillow's platform and have some of these companies reach out to you directly.
I am currently on Zillow as well. Is there anything you mentioned/listed specifically that would attract an insurance company?
Make sure that the first sentence is clear in saying it is a furnished unit that will take 30 day stays. Most people don't want to read through your entire listing.
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Real Estate Agent
- 480-818-7745
- [email protected]
Quote from @Matthew Perez:
Quote from @Matthew Masoud:
1. Make sure you are on all the platforms.
2. For FF tenant have a direct booking site where they can finalize their reservation.
3. My best source to connect with traveling agencies as been furnish finder. Every once in a while I get an agency asking about my listing. Even if I can't accommodate the one they are asking about specifically, I make an effort to build a relationship with the agency.
4. Have teams to handle repairs promptly.
Thank you! I am listed on Furnished Finder, for almost two months now. Unfortunately. haven't had much success, as I have yet to receive a direct booking request. I have received two general housing requests, but 98% is unmatched housing requests, to which i've responded to all, regardless of whether it matches up or not.
Do you use FF message, or do you text/email the client off the platform?
If they have contact information, I'll use that. If not, I use FF messaging.
- Real Estate Agent
- Denver CO | Colorado Springs, CO
- 2,556
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I know some people insist on connecting directly with hospitals/travel-nurse placement groups or with insurance companies. IF you can do that, it's not a bad idea, but I think it's a waste of time. Why limit yourself to one group of people? We have medium-term rentals in Colorado Springs and Denver and have always just used the big platforms. I want to be where the most number of eyes are. Airbnb, Zillow, Furnished Finders, (Avail, to name a new one).
Whatever you think you're losing on Airbnb through fees, you're likely gaining by having a consistent pool of potential renters. For instance, if you charge $3,000/mo for your rental, and you get a 3-month stay, then you're paying $270 to Airbnb (3% of $3,000/mo). But if you're vacant for only 3 days because you're going after a no-fee guest, then you've already lost $300 in vacancy.
Brian Chesky, Airbnb's CEO, has talked about the shift into the mid-term rental space, and we've seen in our MTRs in Colorado that more and more are coming from there. The writing on the wall tells us Airbnb will be the biggest player in this space very soon (if they aren't already), and I want a good presence on there, with great reviews and Superhost status.
Just my take. Sounds like you're doing well, already. Wishing you the best going forward. Cheers.