SLC-Provo Medium-Term Rental interest

[Mark McGraw]

Hello,

I am new to the investment property market and am interested in learning if I could reach my goals for a potential investment property. I live on the east coast and want to invest in the SLC-Provo area. Specifically Draper or Lehi areas. After learning of many restrictions on STRs, I think the best way to go may be MTR. Optimally I would love to be able to use the property for maybe a month or two total in the year. Cash flow would be great, but I think I would value appreciation over cash flow. Are these areas good places to start? Am I right to assume that STRs are too risky in the area because of the restrictions? Is there a market in the areas for MTRs? Let me know if anyone has any useful information for me! I appreciate it in advance.

-Mark McGraw

[Bonnie Low]

Hi, Mark. What research have you do so far to qualify this market? Is there a particular reason you're interested in it? Perhaps you have family or connections there? Most people start by looking up local STR regulations to understand the permit requirements, if any. Next, check STR data sites like AirDNA, STR Insights or Rabbu to understand booking trends and pricing. Finally, if you're interested in MTR, look into sites that cater to travelers seeing longer term furnished rentals, like Furnished Finder or use Airbnb's 30+ day stay filter to see how much competition there is and what their calendars look like.