Quote from @Bonnie Low:
Hi, Mark. What research have you do so far to qualify this market? Is there a particular reason you're interested in it? Perhaps you have family or connections there? Most people start by looking up local STR regulations to understand the permit requirements, if any. Next, check STR data sites like AirDNA, STR Insights or Rabbu to understand booking trends and pricing. Finally, if you're interested in MTR, look into sites that cater to travelers seeing longer term furnished rentals, like Furnished Finder or use Airbnb's 30+ day stay filter to see how much competition there is and what their calendars look like.
Thanks for the helpful response Bonnie!
We have done some on the ground research on Draper and Lehi and the towns seem to be growing communities, also SLC as a whole is trending in a great direction. We also love the access that SLC gives to outdoor activities (Skiing, Hiking, National Parks) and would personally love to own something there. I have used Airdna but am confused how many of the Airbnbs I am seeing in the SLC area are still operating with the restrictions I have read about. The restriction in Draper is nothing shorter than 30 days, and Lehi’s is that rentals the owner has to live there for 185 days a year, which we would not be. I see full properties listen in both areas, granted there are many guesthouses and in-law suites. On the MTR side I see properties all over the area listed at about the same price we would strive to rent for per month. Are tgere nkre specific trends I should look for in my research? Thanks again for the help!
