Furnish Finder beginner

[Joshua Telles]

Hello Everyone,

I'm closing on my first mid-term rental this september and want to prep it up to put it on furnish finder. The property is going to be close to 3 hospital systems with various FSED's around them (I work in the medical field as a radiology manager). I feel that this property is in a prime location for travel nurses and professionals.

I've been reading/listening to "30 day stay" to prepare me for whats to come, but also wanted to connect with other investors new and tenner on any tips or procedures they recommend when doing mid-terms, especially on furnish finder.

Thank y'all!

[Gabe Chase]

Hey Joshua! We manage about 15 in Indianapolis! We love MTRs. We love having a smart lock on the property, guidebook/recommendations are a favorite, and do move in/move out inspections just like normal! Good luck! 

[Jamie Banks]

Hey Joshua! I recommend looking at Furnished Finder, Airbnb and Zillow for comparable MTRs in the area to understand pricing and the level of furnishings you need to be competitive. 

[Nick Zupec]

Hi Joshua, congrats! Traveling healthcare workers often work 2nd or 3rd shift so blackout curtains and a sound machine are nice. They often work long hours too and primarily come back to sleep so we get nicer mattresses and linens. Travelers in any field usually have streaming TV services so we get SmartTVs with high speed WiFi. We include smaller appliances like blenders, toasters, and definitely a coffee machine (we have Keurigs that brew single cups). 

I also agree with everything that Gabe and Jamie said. We have guest books too with local recommendations. We also provide a welcome basket that gives them items to get through a few days so they don't have to go shopping right when they arrive (2 toilet paper rolls, 1 paper towel roll, small dish soap, small hand soap, 2 dishwasher pods, 2 laundry pods, 3 garbage bags, scrub brush for dishes, a few coffee pods, some sugar packets, etc). Guests always comment on how nice it is to have those things there, especially when they arrive late. 

For Furnished Finder, I definitely recommend professional photos. Don't be the person that you can see taking a cell phone photo in the bathroom mirror :) Most importantly, reply quickly when people reach out with interest. They often are looking at multiple properties and the more responsive you are, the more likely you will secure the booking. I get all notifications to my phone so I can usually reply right away. Reach out if you have any other questions as you get closer!

[Nicole Heasley Beitenman]

Hit up the "Resources" section of FF. There's plenty of gold in there!

[Miguel Del Mazo]

It's all great advice above, but I wanted to add a recommendation that I don't see as often: don't go cheap on your washer and dryer.

Nobody wants to work 12+ hours and then go home and fight a tiny washer and a slow dryer. Get your dryer's exaust cleaned before you open up the unit for rent and periodically therafter. That saves you $ on electricity and lowers the fire risk. If possible, include in your welcome kit the location of a drop off laundromat (they wash, dry and fold for a fee).

Make life easy for your residents, and you will be rewarded. :)

[Zachary Deal]

Hey @Joshua Telles! Congrats on the new MTR. Understanding your local competition is critical to success and will allow you to accurately price and furnish your MTR. The most popular sites for MTR besides Furnished Finder tend to be Airbnb, VRBO, and Zillow. Facebook and ALE Solutions (for insurance placements) can be good places as well and I would recommend reaching out directly to the hospitals that are close by. Casting a wide net and exploring all avenues in your area (especially at first) is key to success in the MTR space.

[Bonnie Low]

Congrats on your purchase and on getting started in MTRs! Your question is a broad one. One of the best things you can do is to network with other MTR investors and operators. It really is a different animal than either long term or short term rentals so it's best to seek advice from others with experience in this niche. Some of the biggest things to remember are that 1) it's a hospitality business. You have to treat your tenants like guests and provide them an excellent experience  2) competition is heating up so you have to bring your A game. Look at your competitors in your market to understand what you're competing against  3) if you're using Furnished Finder, understand that it's a lead gen funnel only and not an online booking site. You have to have a system set up for vetting guests, creating leases and collecting deposits and rents. You also have to actively pursue the leads on FF - it's fairly rare that they come to you directly. 

Best of luck to you!