New to STR/MTR What do we need to know?

[Robert Frazier]

Hey, our Turnkey Real Estate team is building out infrastructure to manage STR and MTR alongside our long term property management services. What do you wish your MTR/STR management did? What do they struggle with? What technology do you prefer?

[Lauren Robins]

Quote from @Robert Frazier:

Hey, our Turnkey Real Estate team is building out infrastructure to manage STR and MTR alongside our long term property management services. What do you wish your MTR/STR management did? What do they struggle with? What technology do you prefer?

As someone who's managed or worked with STR and MTR teams, one of the biggest things I wish property managers did better is dynamic pricing. Many rely entirely on tools like PriceLabs, Wheelhouse, or Beyond, which are great — but they often leave money on the table if not actively managed. What really makes a difference is when managers use these tools as a starting point and layer in local market knowledge, adjust for nearby events, and fine-tune based on performance data. That hybrid approach can significantly boost occupancy and nightly rates.

Another area that often needs work is communication. Speed is important, sure, but the quality of the communication matters just as much. As an owner, I want to know that guests or MTR tenants are being responded to quickly, but also with professionalism and warmth — not canned or robotic replies. Good guest experience leads to better reviews, referrals, and repeat bookings, and it also protects the brand of the property and the management team.

Proactive maintenance is another huge one. Many managers are still mostly reactive — they fix what’s broken when it’s reported. But the best ones get ahead of problems by doing regular walkthroughs, testing appliances, checking for wear and tear, and keeping great relationships with vendors. This pays off not only in fewer emergency calls but in keeping the property in top shape, which leads to better long-term performance.

On the MTR side, lease turnover and furnishing logistics are often underestimated. The 1–6 month stays mean more frequent turnover than long-term, but without the nightly cleaning of STR. Managers who offer streamlined, reliable furnishing packages and have a game plan for staging, photography, and lease-up timelines really stand out. Same goes for tenant screening — MTR guests are often traveling nurses, digital nomads, or corporate clients, and they expect a different level of service and professionalism than standard renters.

Finally, tech can make or break the experience. Personally, I love tools like Hospitable for guest messaging, PriceLabs for pricing, and OwnerRez or Hostfully for full-stack STR operations. For MTR, platforms like Furnished Finder or corporate housing portals matter, but so does having a clean portal for owners to view performance metrics, financials, and maintenance logs. Managers that bring all of this together into one smooth system — with minimal owner handholding — are golden.

Note: This information is for educational and informational purposes only and does not constitute legal, tax, financial, or investment advice. No attorney-client, fiduciary, or professional relationship is established through this communication.