Need feedback/advice on challenged MTR in Denver

[Melissa Robbins]

Hello BP friends! 

I'm having a harder time than I thought renting out rooms in my Denver mid-term rental and thought I would ask the BP crowd for feedback. I'd love to hear thoughts from other Colorado MTR owners who have tried, failed, and figured out what works. Please be honest and it's ok to call the baby ugly so to speak. I own an MTR in KCMO that does well, it's always rented, with no problems. But the Denver MTR is a shared townhome and we can't seem to get into the right rhythm on this one. 

Here are a few details to help describe the place.  Here's the FF link as it's listed today - https://www.furnishedfinder.com/property/578254_1. 

1. This is located in SE Denver, close to the border of Aurora in a pocket called Indian Creek. It is city and county of Denver but Its quiet and tucked away with access to several hospitals but its not downtown or west of the city which I know most people want. There are no homeless camps in this area.

2. My son is my business partner, guest host, and he lives in the basement - he has a bedroom, 3/4 bath, and living area downstairs. 

3. Our original strategy was to furnish both bedrooms upstairs and lease it on MtM basis as a 2 bed 1 bath shared townhome at $1700/month. To me, it seemed like a screaming deal to have a furnished 2 bedroom with all utilities included in Denver. We tried to sell it as a flexible area like the 2nd bed could be someone's office. But it sat for two months with no leads. So we are now marketing it as a one-bedroom for $900. 

4. We are not accepting pets and don't want to budge on this - realizing this is likely holding us back. 

Thank you to anyone who has time to check out our link and provide feedback. Is the bedroom too generic, not flashy enough? Or should we be trying to rent the basement bedroom with private living space instead of the upstairs? 

Is Denver saturated with this kind of listing? Perhaps we got in too late on this strategy? Looking forward to hearing feedback and suggestions for improvement. Thank you!!

[Bonnie Low]

You asked for honest feedback so here goes:

- There are a lot of rentals in and around Denver so competition and location could definitely be an issue

- Your decor is doing nothing for you. I always cringe at a red/black theme - it really takes a special property to pull that off and doesn't appeal to most people. I'd recommend toning it down. The black couch was probably a big expense and you can work with that if you need to, but bring in some softer colors and some neutrals and let the black be the major point of contrast. The bedroom is very basic. If design isn't your thing, it's probably worth consulting with someone who can provide some tips. Lots of FB groups love to provide helpful suggestions and even links. 

- Show your fully stocked kitchen. Open drawers so people can see you have plenty of utensils, gadgets and dishes

- I'd get rid of your application fee. Most places don't charge an application fee.

- If you're having trouble getting bookings, you need to be pet friendly. The MAJORITY of travelers travel with pets. It is the #1 question recruiters get from their applicants. You already charge a hefty cleaning fee so you should be covered for normal pet cleaning expense, but charge a pet deposit that is refundable if there is no damage. You're going to struggle to stay occupied if you aren't willing to allow pets.

- Most furnished units have utilities included so I don't think your property listing title needs to state that. 

- The majority of travelers don't like shared spaces. You're basically offering a rent-by-room strategy. The price is good, but your guest pool is just smaller. It's also not clear if guests are sharing the space with Andy, who lives in the basement apartment, or with Andy AND someone else who would occupy the other bedroom. 

I hope this is helpful. The property has some nice things going for it like the pool and club house, balcony and outdoor sitting area and the quiet location. With a little more work and some important changes, you should have better results.

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