All Forum Posts by: Sarah Weaver

Hey, thanks for the shoutout, Nicole! 

Anthony, great questions. You'll need to do your research about regulations for your specific market. You can start with a quick Google search for "CITY NAME STR regulations" and then drill down into government websites for the most up-to-date information.

I would connect with other local arbitrage investors here in the forums or on Facebook (you can search for groups). 

Great question! Ask yourself: What are your goals? Where do you want your portfolio to look like? 

Time freedom vs. cash flow are two things to consider.

One of my tenants runs an Airbnb arbitrage out of one of my units, and it has been a positive experience. I have also had a poor experience with property management companies. The reverse can also be true. You can have success either way, so long as you vet each individual or business appropriately. 

Best of luck! 

I will be there! I'm speaking—I hope that doesn't count as cheating. I am looking forward to it and hope to see you all there! 

Agreed with the others here that it depends on the size of your property and your tenant avatar. For MTRs, many travelers are occupying the unit by themselves and do not require much. However, if your unit receives more STR bookings than MTR bookings and guests are coming in groups of four, you'll want several extras on hand.

Hi Hector! I agree with the other points that have been brought up: adjust pricing to match the current demand, look at your competition, analyze what amenities you can offer, try posting the listing on new platforms...lots of great ideas. 

Austin is a very saturated rental market, so it makes sense that bookings are drying up a bit during the slow season. 

From an Airbnb listing perspective, I would change your main photo to one of the interior photos. The inside of the home is bright, clean, and colorful, and it might stand out to potential tenants more than the photo of the exterior home. Also, changing the photos is said to boost visibility with Airbnb.

Best of luck! 

Congrats on buying your first place, Travis! I would start by looking at demand for furnished rentals. You can do this by heading to furnishedfinder.com/stats and entering your city. Then, compare the number of housing requests to the inventory currently on the market. 

Living less than 10 minutes from the hospital is an ideal location for an MTR, especially knowing that the facility will grow. 

I would also reach out to local investors who have furnished rentals in the area (find them here or on Facebook groups) and see how their properties are doing. It sounds like a furnished rental might be a great plan. Best of luck! 

If you are pivoting between STR and MTR, just be sure to check your local regulations for any STR ordinances! Otherwise, it is simple to toggle between the strategies. You'll simply be adjusting your minimum stay.

I do agree with the other posters that you will need to send a lease for longer stays, so familiarize yourself with how to send one electronically. I use Apartments.com and Avail.co and they are both very user-friendly. Best of luck! 

In my experience, the closer to the hospital, the better. Of course, it remains very important that the unit is in a good neighborhood. I would not sacrifice safety for proximity to a hospital. Most tenants appreciate being less than 10 miles and under 20 minutes from the hospital. 

When it comes to renovations, I have found success with my units being very aesthetically pleasing through design and furnishings while opting out of larger renovations. Design and furnishing can go a LONG way, so I would recommend saving your money if possible! 

Hi Ashley! If you decide to purchase in a location that is further from hospitals, just make sure that there is something else nearby to draw folks to your area. Hospitals are a consistent and reliable metric for attracting traveling professionals, so if you choose another area of town, make sure that there is something else nearby (a utility plant, large headquarters, etc.) to attract potential tenants. I hope this helps. Best of luck! 

Hi Heather! A few questions and comments to help here: 

- The MTR market is not as in line with the LTR market because of employment demand (so it will not see the full slowdown that LTR vacancies do this time of year), but there is definitely a slight seasonal slowdown at play. I have seen fewer leads than usual for my properties, too. I expect that things will pick back up after the holidays. 

- If you do not mind sharing the link to your listing, it would be helpful so I and others on the thread can give advice about how to spruce it up. 

- Do you have the unit cross-listed on Furnished Finder and another platform, like Airbnb? 

- I agree with Dezmon's note about analyzing your listing to see how it stacks up against the competition. Compare your amenities and price to what else is on the market. 

I would also encourage you to reach out to other investors who have furnished rentals in the area to ask about their experience with occupancy this time of year.

I hope this helps. Best of luck!