All Forum Posts by: Erin Spradlin

Quote from @Nicole Heasley Beitenman:

Do you wash the comforter, shower mat, and shower curtain in between guests/tenants? We operate primarily as an MTR but will use the STR model to fill awkward gaps.

@nicole heasley - Maybe I'm just gross, but usually not. Guess it depends on how long the stay has been? We have never washed our shower curtains between midterm rental stays or STR stays, but we do the comforter and floor mat every now and then. 

@Jessica DiPonziano - You do not need a dresser. You could put shelves with cloth bins on the wall to substitute. Also, if you have a closet, you could put the dresser in there. For smaller spaces, I also remove closet doors so that you have easier access to what's in the closet. (Also, as a real estate agent, I'm seeing this more and more in homes.) Bottom line: I don't think not having a dresser will keep anyone from renting from you. 

Quote from @Alan Asriants:

How about an office work from home space

 @Alan Asriants - Agree. You could make it a flex space that has the option for a pull out v. making it a full-time bedroom. 

@Jessica DiPonziano - What about making it flex space? You have a couch that pulls out and a desk (office)? Or a couch that pulls out and a tv (den)? We have this sleeper sofa and we absolutely love it. It's comfortable, and it also has storage. This is what we do with our slightly tighter space. https://www.ikea.com/us/en/p/friheten-sleeper-sectional-3-se...

Quote from @Akhil Patel:

Hi all, I recently started renting out a property based in Columbus, OH to travel nurses and had a question about cleaners. How frequently do other travel nurse unit operators send out a cleaning crew? Or conversely, if you're a travel nurse do you expect a cleaner to be sent out a certain frequency? I've been sending out a cleaner every other week and just wondering if that's standard across other travel nurse units

@Akhil Patel - I think adding the option for cleaners is fine (they work 1:1 with the cleaners and book them), but I don't mandate cleaners on my property. This is because as an MTR guest- I wouldn't like this. I don't want a stranger around my stuff. I'm clean, so I don't want to have to pay for that expense, which does get passed through. ALSO, I've found my nurse clients to be pretty meticulous. 

Quote from @Eric B.:

I am looking locally in VaBch, but not limiting myself and will follow the advice and data.  I am not yet in VaBch for a few months, but I do value community and teams, so definitely on the list of things to do when I get there.  I have a few contacts I've made already while looking for my primary residence.  Now, every day is like Christmas Eve until I can get closed, move and sell this property.  

Anyone want to buy a 4bd/2.5 bath on 5 wooded acres (40, of which I own 5 and my unlce owns the rest) in the middle of God's nowhere ;) 

LOL. Laughed when I saw the point about getting hate for a "flexible" goal. It's important to be open to a point and following data is important to a point. I think it's always helpful though to put limits on your data research as a new investor because otherwise you can delay making a decision... and, from what I've seen, time is usually your biggest enemy in real estate versus finding the perfect property. 

Quote from @Jacob Sherman:

once someone stays 30 days they're a tenant . you should consult with a local real estate attorney 

 @Andrew Bosco - This is true, but you can also do a free review of your local laws by simply downloading a Zillow Rental Manager lease. Those leases are built out for the state and city you are renting in- and they are done so by local experts that Zillow paid. While they are not specifically midterm rental leases, they are specific leases for people that are staying 30+ days and that is what you really care about. 

@Steven Taylor - So many thoughts on this. 
I think that the rent prices will continue to go up because, unfortunately, fewer and fewer people have control of the rental market/own investments. In places like NYC, where the rental vacancy rate is below 1%, all the power is with the landlord and this will drive prices up. I think we will see this more and more throughout the United States.

I also believe the nature of renting is changing. Specifically, I think midterm rentals / furnished rentals, are going to become the norm rather than the exception. I think we are already starting to see that shift, and that midterm rentals will grow in popularity not only with travelers but also with local tenants. If I had been more aware of/presented as an option a furnished rental when I was 20-30 years old, I definitely would have taken it. 

Quote from @Andrew Bosco:

I wanna hear the good, the bad and the ugly from everyone. Do you allow 30 day stays? Are you against them

@Andrew BoscoI LOVVVVE midterm rentals. We actually have the option to STR on a few of our properties and decline to do so because we make more money than an LTR on our medium-term rental with a lot less work than an STR.

The pros to medium-term rentals: high occupancy rate, no local regulation issues if you are 30+ days, elevated rents, more and more people are staying longer, often the midterm rental tenant pool is professional. 

The cons to medium-term rentals: I'm adamant that appreciation is what you mostly care about in real estate, and larger homes lend themselves to larger appreciation. That said, I think in the midterm space, a 3 bed/2 bath or smaller is ideal for the midterm rental tenant pool. And smaller properties aren't as good for appreciation. 

@Michelle Fenn Congrats! That's awesome! One thing I love about the "midterm rental" is that people pay elevated prices but often book for long periods of time- in your case, 12 months.