All Forum Posts by: Carrie K.

Hi! Is Craigslist the best place to post vacant units still, or what else is good? Also, how are you setting rent? The comps are weirdly all over the place it seems. Maybe it's always that way, but I used to have more of a finger on the pulse when turnover was more rapid. Happy to share details about the unit if you're in the Oakland area and want to consult. :) Thanks for all advice!

For dressers and end tables, Big Lots had some pretty great prices over the holidays.

I'd love to hear more about your strategy with focusing on these houses! Been starting to think along similar lines.

Thanks for all that advice, Carolyn! I might try that.

Thanks, Bruce. I hear what you're saying. It'll pencil out either way, I'm just trying to be smart about navigating the different housing sub-markets and especially this pivot to the furnished market. Is anyone else seeing furnished rooms going for less than unfurnished?

There must be a 30-day minimum in Oakland, I believe -- Oakland isn't big on STRs. 

I actually got into this after reading about how tough nursing is these days and the rise of travel nursing and the need for housing for them. I thought maybe I could play a role by making a nice, comfortable place to live. So I'm okay not making the big bucks STR style, but I also don't want to do it at a monthly loss. (And of course, I don't rent just to nurses, as discriminating on the basis of income source would be illegal and not cool. It was just an inspiration as I was setting the place up.)

Thanks!

Is anyone crushing it in 30+-day furnished professional listings (e.g., travel nurses) especially in the Bay Area, who could give me some advice? Or has anyone seen furnished places go for less than unfurnished before? 

I recently furnished a 3 BR. This is a high cost of living area, and in the neighborhood right now, I see a 3 BR of worse finish quality listed for $3k and a 4 BR that's about equal for $3900, both unfurnished with long term leases. (There are also fancy lofts for much more per bedroom.)

I just heard from someone who is looking at my furnished listing that they'd like to pay $950/bedroom and think that's justified based on the other places they're seeing. I really appreciate this kind of feedback and am likely to cut a deal with them to get it rented. But, it is a bummer because I just spent $$$ on furniture, bedding, and all of the many incidentals. Also, I've added about $250 to my monthly costs to cover utilities.

Looking on Furnished Finder, I do see plenty of places in my approximate price range, so I thought my target (average of $1100/room) was competitive and reasonable. Looking on AirBnB, $1150 for a tiny place was the absolute cheapest comp I could find nearby, and the next was around $1250/month (after Air BnB fees). But looking on Craigslist, I am now actually seeing a couple of small and non-fancy furnished rooms for $950.

In the near term, I'm happy to cut a deal just to get it rented for a couple months. But as I think about my long term plans, between the higher vacancy rate, the added monthly expenses, and all of the correspondence with potential renters, I'm strongly considering UN-furnishing it and going back to a long term rental. Has anyone else run into anything equivalent?

Thanks! I *thought* I'd done my market research, but I clearly have more to learn!

Thank you! 

Anyone getting out of the short-term biz want to unload a bunch of incidentals with me? I'm furnishing a place in Oakland and need bedding, towels, wall decorations, and maybe 25% of the furniture you'd need for a 3 bedroom place. Much as I love thrifting and Ikea, I'd love to wrap this up soon and meet someone else who has been doing this in the process. Thanks!