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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.
Quote from @James Carlson:
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.
From a traffic standpoint, AirBnb is far and away number one, so I agree with you. For me, it's less about leaving the larger platforms, and more about creating additional relationships that could lead to bookings. Recently, I've seen Brian encourage lower priced listings, and with increased competition, I think that trend will continue, especially in a slower economy. An insurance provider, on the other hand, would be willing to pay a premium in those same instances. I think having the big websites + outside relationships would be the most ideal outcome.
Quote from @Matthew Perez:
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?
Beyond Facebook and Instagram, explore off-platform advertising like SEO, PPC ads, email marketing, and content marketing. For better visibility on Facebook, fine-tune your profile, post regularly with great visuals, and use targeted ads. Though online advertising can seem overwhelming, it's a valuable investment with long-term payoffs. If needed, consider a professional digital marketing agency for expert support and campaign management.
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Real Estate Agent Texas (#005416)
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Quote from @Jay Thomas:
Quote from @Matthew Perez:
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?
Beyond Facebook and Instagram, explore off-platform advertising like SEO, PPC ads, email marketing, and content marketing. For better visibility on Facebook, fine-tune your profile, post regularly with great visuals, and use targeted ads. Though online advertising can seem overwhelming, it's a valuable investment with long-term payoffs. If needed, consider a professional digital marketing agency for expert support and campaign management.
That's definitely something I want to engage in down the line. For now, when the budget is a little tighter, expanding relationships seems like the best route that doesn't cost money.
Hi Matthew, I am in the same situation. I am in St Augustine, FL and just booked my first 90 day stay. She found me on Furnished Finder. I have also listed on Zillow and Airbnb. I would welcome showing medium term guests other long term stay properties in FL through a flyer or something left at the property. I think our snowbird market is great for this. I have also called the local hospital and largest local employers but no real response. I have heard of people driving the Homewood Suites or other longer term properties at night to see what trucks are parked there and calling those companies! I have emailed all my past guests and let them know about my monthly rates. I definitely want more medium term guests and any ideas welcomed! I need to spend more time looking at Facebook groups and seeing who is looking. As a realtor we often have relocations in need of places too, or those that are building. You might want to get in touch with local realtors and let them know.
Mindy
Great feedback.