All Forum Posts by: Ronda R.

We get investor clients wanting an MTR in Denver or Colorado Springs and they always ask about targeting insurance companies or travel nurse groups, but I think that's overthinking it. The vast majority of medium term renters will look on the big platforms -- Airbnb, Zillow Rental Manager and Furnished Finders. So be where the eyeballs are, that's what I think.

You do have to think about each platform a little differently, though. For Airbnb, for instance, you should put "30+ day rental" in the headline to differentiate yourself from other listings that will show up in a search for a 3-month stay, but are really just short-term rentals with STR pricing.

For Zillow, which doesn't have headlines for its listings, you'll want to doctor your first photo to put "30+ day rental" overtop it in some way so that MTR renters can easily differentiate you from the mostly LTR listings on there.

Furnished Finders ... I still think it's worth posting there, but I'll say that none of our Colorado medium-term rentals, nor our clients midterm rentals, have gotten tenants from FF in awhile. I think they changed something in their algorithm, and something's off.

Anyway, I wish you luck!

These are good ideas that I am going to implement. Thank you for the suggestions.

0 Votes

Scottsdale, Arizona

I have seen a lot less demand for my mid term rental starting the end of 2022 and now 2023. I was pretty much booked solid during covid, 2020 thru mid 2022. I think what Quinn is saying is right.

2 Votes

@Malik R.
The FTC link you posted was very helpful. Thank you for that.

0 Votes

Quote from @Peter Kapner:

Quote from @Pat Mulligan:

Quote from @John Underwood:

Homeowners insurance will not work for a STR.

A STR is classified as a commercial business so you need commercial STR insurance.

There are several different companies that have been mentioned 100's of times.

I found Foremost to be the best and least expensive for me.

Honestly, I must be doing something wrong. On a 1600 sq ft brick ranch, Foremost just quoted me $11,000. with no particular reason, and I know I have a clean record, good credit. The agent said, well Harris County(tx) IS a little higher. !!

They quoted me $12,700 for a 2 story 1950 sq ft house today in Tampa.

I had heard that Florida insurance was high but that's crazy.

0 Votes

Wilkes Barre Scranton, Pennsylvania

Thank you for responding. I agree with the background check issue. I am passing. I do get a lot of medical professionals though that stay several months at a time. I prefer the longer term reservations actually. I've had very good results with them.

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I just got an email from them wanting to lease for 5 months. The client will not allow a background check. I can't think of one good reason to refuse that, can you? I have along term tenant in late 50's and her grandchildren often. My husband says there might be a good reason. I am inclined to deny. And I agree with the op. I have checked their reviews and BBB ratings and they are not good.

1 Vote

Isn't there a strategy where you can buy the properties with an LLC and then lease them back to your furniture business LLC, so you are the landlord for your business? Two separate LLC's, one is the landlord, one is the renter. Wouldn't you get to write off the interest for the loan buying the building on one LLC and then write off the cost of rent on the other LLC? Am I making this up or is this a real thing?

0 Votes

Southeast NC, North Carolina

Quote from @Chuck Masters:

Florida Family Insurance covers my STR in Florida. It also covers guests stays shorter than 7 days where many will not.

Chuck

Does it cover damage done to your property or is it only liability?

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Quote from @Ariel K.:

I use it and it’s great. I’ve made a few claims and I’ve had nothing but good luck. Claims process is easy, they are super responsive and I usually get paid in 3-5 days. Great for the tenant, great for the property owner. Not sure how they make money, but I don’t care - I will use them as long as possible!

How many units do you have? I have 4 doors. I doesn't look to me like they deal with the little guy like me.

0 Votes

@Ariel K. I am with you. I bet their collection rate is not very high. I also wonder what their claims rate is. I know Jetty is a Farmers Insurance product and it has to be profitable otherwise they wouldn't be doing it. It's an interesting concept.

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All Forum Posts by: Ronda R.

Ronda R. has started 22 posts and replied 219 times.

Post: Mid-Term Listing/Advertising Strategies

Post: Traveling Nurses Rental

Post: Adverse action notices

Post: Insurance question for STR

Post: Has Anyone Done Business with "Travelers Haven?"

Post: Has Anyone Done Business with "Travelers Haven?"

Post: What should I focus on ?

Post: STR insurance needed

Post: Anyone Using Rhino as an alternative to tenant security deposit?

Post: Anyone Using Rhino as an alternative to tenant security deposit?