All Forum Posts by: Jonathan Styer

I think you need to go case by case on MTR vs. STR. it's so property specific. There are multiple factors to consider, but from what I'm reading, you're better off doing STR if you're good with more turns. It's a risk-reward proposition and for us here in Columbus, I see a lot of saturation with STR, but we have very high demand for MTR so most of the properties in our portfolio wind up being mid terms.

We do this with specific properties in our management portfolio here in Columbus. If you're going to do this you need to do it with intention. Best practice is to operate as an MTR and backfill with STR guests because if you open up your calendar to STR guests without tight restrictions, you're an STR.

One booking 6 weeks from now really handicaps your ability to book MTR guests. 

You can also plan your calendar for the year with this in mind if you have a high seasonality market where STR crushes and then dies off.

You're going to appeal to a lot more people with a nice looking clean unit. If it can be tucked away and brought out then that could be a great amenity. If it's taking up space in the living room, I'd avoid. 

My opinion on this would be to add it if you want it for yourself while you still live there, otherwise I wouldn't bother. I can only speak to our market here in Columbus, but MTR is in such demand that I don't see this amenity being a must to keep your occupancy high, I'd go with an outlet. 

We have one unit that advertises a charger and I don't think it's ever been used. I don't think you can raise the rent by installing it because most guests aren't going to be using it anyways and it will prevent guests from booking potentially because your price is higher than others.I

I say all this as someone who drives an electric vehicle. 

Happy to chat about our market if you're ever interested!

My clients have been cash flowing well. You need to buy strategically and then market yourself well. We have really high demand for MTRs here in Columbus so that definitely helps - our properties are usually booked by referral before we get them listed. 

For us, its simple supply and demand. We generally expect to see 2-2.5x gross rent vs. LTR market rent. 

Happy to chat if you have any questions. 

 Hi Brady, 

I have built my business around this concept. I found it harder and harder to find cashflowing LTRs for my out of state investor buyer clients. Once I transitioned to an MTR model where we can be a one-stop-shop here in Columbus my clients are doing much better with cashflow.  

We often see 2-2.5x in gross rent from market LTR rent and where it really works is in Multifamily. We manage a 4 unit that the owner bought for $420,000 and he is grossing over $10k per month with MTR. 

One consideration is your expenses are higher and you do have the cost to furnish, so it's not all sunshine and roses, but if you buy it right you can do really well. I also help a lot of clients buy multifamily and they will split up strategies as a hedge, like 2 MTR and 2 LTR. We also sometimes do they hybrid approach with MTR/STR.

Happy to answer any questions!

I agree with other commenters that going MTR would be your best bet if you can. You should be able to beat LTR significantly and cover your costs. 

Never one to kick a down dog, but for future investments, I would strongly advise against ever owning an investment property in an HOA neighborhood, especially an STR. Always want to have as much control over your property as possible.

Hit me up if you need any advice on MTR.

We usually try to stick to 2 weeks out because it can easily creep into being an STR if you open it wide up and that's not the goal if you have MTR as your primary strategy. What we often do is just fill in STRs between MTRs if there is a gap in the stay.

Columbus has very high MTR demand so we are often doing next day turns and booking places before they're listed. But we do keep this strategy in our back pocket. 

Hi @Brian Malavsky

For us in Columbus, squeezing in STR guests between MTR tenants can be profitable for reducing vacancies and increasing rental income, especially with platforms like Airbnb or VRBO. It's been a great strategy for us.