All Forum Posts by: Kathy Cooper

I have a great team in SA who I can truly rely on to get things done when needed and I travel down a couple times a year. Once you get set up and find the right people to rely on, it can go smoothly. I handle the booking and accounting/scheduling, etc.  Hire everything else

I do STR and MTR, it's best for the calendar to designate one or the other per property, I find. I also think it highly depends on your market, such as if you're in a seashore area, you'll probably want to do STR in high season, then switch over to MTR for the rest of the year. I get a good amount of MTR from VRBO and when they come thru it's a great booking. I don't know why you wouldn't allow MTR bookings. I have a returning guest who I have a year booking for. She is very respectable to the home. MTR offers more stability in "off" months.

I believe in this market it's time to Hold...rent it out. Totally depends on the area of course.

 I own MTR's in a San Antonio medical center and I can give you this advise: Traveling nurses/professionals are looking for small accommodations (lower price point), they are concerned with safety, as they are usually women traveling alone, well-lit walkways by their parking spot, private entrances/bath/laundry. I had a nurse recently cancel her contract because she didn't feel safe at her hospital. Many nurses have been put thru the ringer, are not being paid like they were in 2020, and their contracts can be cancelled at any min. notice. I do wish you luck, but do a lot of research. Make sure you have 1 person units and allow pets.

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 Oooo, please share.  I think there is a flood of investor inquiries looking for desperate owners right now. I love the inquiries from people wanting to manage bookings for me....they didn't even do their research...I own my property management company. rolling eyes...

I have been hearing from he nurses that the hospitals are not hiring travel nurses as much these days...I don't know if they will see an uptick soon, but I have certainly seen the over-saturation of MTR's as well as a drop in people searching for them.  I'm looking forward to the increased traffic of the season to help out with the over saturation issue. I guess it will all work its way out at some point.

 lol. yes, very annoying. I now also get inquiries about managing my rentals...I'm listed as a property management company!!!!  They don't even look at the info. There really should be a Wholesale do not call list.

@John Tobin I do a lot of MTR in a different area and like it more than STR. It's more steady income. As far os guests hard on the home, I recommend screening for smokers and not allowing pets. Those. Are the most damaging. Collect a good deposit and background check. Most areas are hotel tax free for 28 day or more bookings check first. I us dochub for contract signing and Intuit merch account with QuickBooks. Easy smeazy.

Thanks Peyton. I'm rethinking the whole big reno idea in a new area. I have moved along :)  Thank you so much for your suggestions...