Mid-Term Rentals Article and Trends

[Zachary Deal]

Hi all,

I recently came across this article regarding Mid-Term rentals that I thought would be helpful to share here. It highlights a lot of the reoccurring themes that come up in this channel. One very interesting statistic they cited was that Mid-Term rental bookings are up 94% in 2023. I think this could be for a variety of reasons but likely has to do with the fact that remote work seems as though it is here to stay allowing for more digital nomads, professionals to live/move cities more easily or even just "check out" a new location for a few months.

Couple of key takeaways:

-Casting a wide net and not focusing only on traveling nurses for example

-Knowing your market and target clientele

-MTRs are ideal for corporate travelers

-How you operate your MTR is key to success (responsiveness to request, amenities, etc)

-Protect yourself with a security deposit and ensure your lease fits your property/market

Article: https://www.azibo.com/blog/mid-term-rentals-pros-and-cons-fo...

Curious on everyone's thoughts on this article and overall market trends!

[Bradley Buxton]

@Zachary Deal

In the Tahoe Reno, NV market we are seeing more interest in MTR because of the influx of tech and manufacturing jobs with Tesla building the Semi-truck factory, Panasonic building batteries, and Redwood Battery recycling the batteries. Data center investments from Google, Apple, and Switch are also driving the MTR rentals for corporate employees. Focusing only on traveling nurses is limiting the client base. When we analyze the market for investment properties we are looking more at what would rent out well as a long-term and MTR. The dynamic landscape of regulations on STR can still be navigated in our area but having an MTR number that works is important to our clients' strategy.