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All Forum Posts by: Valerie Bashiri

Valerie Bashiri has started 1 posts and replied 13 times.

Post: Sourcing MTR Tenants!

Valerie BashiriPosted
  • Minneapolis, MN
  • Posts 13
  • Votes 8
Quote from @AJ Satcher:
Quote from @Colleen F.:

@AJ Satcher when you say house hack does this mean you are renting a room or suite in your home or a full unit with kitchen?   There will be differences in demand/advertising for rooms. furnished finder is good for both units/rooms but it seems like rooms get less traffic. 

Interesting you say that because in my area it seems furnished Finder folks are more interested in even smaller accommodations/ rooms because I see many (like, a loooot) looking for places <$1200. Which is very bizarre to me because in Atlanta/Decatur, you can’t find an empty apartment for that price.

This is a fully furnished basement unit. 1 bed 1 bath, kitchenette, W/D and its own private entrance, all utilities included. 
I have the same problem here with FF in Minneapolis.  They’re like, I’d like a luxury 2 bedroom, recently renovated, all the amenities in a Sing Family Home, I’m bringing my Mastifs with and I’d like to stay for $1200!  🤦🏼‍♀️.  I’ve had one person directly contact me and then didn’t reply when I responded (within 15 minutes), one person that seemed interested and didn’t go any further, and every one else wants the above described for $1200.  I’m so far having better luck with AirBNB.  The problem is they are short stays and I’d like something longer.  

Post: The art of MTR/STR

Valerie BashiriPosted
  • Minneapolis, MN
  • Posts 13
  • Votes 8
Quote from @Bonnie Low:

Yep, definitely make sure it pencils out as an LTR because that's my go to option if it doesn't work out as an MTR. I talked to a few people in my community doing mid terms before I jumped in. Both had rooms they rented out in their own home so it wasn't completely equivalent to my properties, which are not shared, but it confirmed that there was as steady stream of midterm guests in our area. As for marketing, I only use FF and stay full. I can't see going to Airbnb or another OTA unless FF quits working for me.

I can’t seem to get FF leads that are practical in my area.  Nearly all The leads that come in want a comprehensive size rental for less that market rate unfurnished is going for in my area.  It blows my mind.  Most of the leads coming in have no clue what our housing market is.  

Post: 50 gallon vs 75 gallon water heater for an 8 bed, 3 bath SFH?

Valerie BashiriPosted
  • Minneapolis, MN
  • Posts 13
  • Votes 8
Quote from @Marcus Auerbach:

You could also get a tank-less water heater, which can make endless hot water supply. My only question is who ays for the water bill? 30 minute showers....

https://www.homedepot.com/p/Rheem-Performance-Platinum-9-5-G...


Tankless all the way. 

Post: 50 gallon vs 75 gallon water heater for an 8 bed, 3 bath SFH?

Valerie BashiriPosted
  • Minneapolis, MN
  • Posts 13
  • Votes 8
Quote from @Marcus Auerbach:

You could also get a tank-less water heater, which can make endless hot water supply. My only question is who ays for the water bill? 30 minute showers....

https://www.homedepot.com/p/Rheem-Performance-Platinum-9-5-G...


Tankless all the way. 

Post: Best high-quality sheet source for MTR

Valerie BashiriPosted
  • Minneapolis, MN
  • Posts 13
  • Votes 8

Standard textile

Post: STR Tax Strategist/Preper

Valerie BashiriPosted
  • Minneapolis, MN
  • Posts 13
  • Votes 8

Same here!  I've been working with Prime Corporate Services since last year and they are a waste of money.  Their service has been horrible, my reps "left the company" without them reaching out to tell me who my replacement rep is.  They filed my taxes wrong last year and I ended up owing more to Federal and State.  Everyone I've found so far wants $5k to start.  That hardly seems feasible when you are just starting out.  

Post: Marketing MTR & Handling Leads

Valerie BashiriPosted
  • Minneapolis, MN
  • Posts 13
  • Votes 8
Quote from @Drew Sygit:

@Valerie Bashiri everyone thinks property management is easy - until they have to actually do it!

Yes, we all get LOTS of idiots that don't read our ads and we have to politely respond to them.

Best practice is to write several really good responses, politely directing them back to your ad, listing your basic requirements, etc. 

Recommend you save 1-2 weeks of inquiries, spend a weekend sorting them into categories and then write responses to the most common ones. Then you can copy and paste EFFICIENTLY!

Yes, you will piss off some of the inquirers, but 98% of them aren't really good leads to begin with and it isn't efficent to pursue the 2%.

Also recommend you either pick STR (1-30 days) or MTR (1-6 months) strategy and update your ads accordingly. Trying to pursue both is less effective and very interested prospects will ask about exceptions anyways.


Thank you Drew!  Your post was helpful!

Post: Marketing MTR & Handling Leads

Valerie BashiriPosted
  • Minneapolis, MN
  • Posts 13
  • Votes 8
Quote from @James Carlson:

@Valerie Bashiri

Beautiful looking space. Well done. 

We do medium-term rentals in Denver and Colorado Springs. We don't have any special system for working the leads. We post on Airbnb and Furnished Finder. FF is definitely our biggest source of leads. Anyone who comes in, I ask what's bringing them to Denver or Colorado Springs. (I personally think communication is a big indication of tenant quality, so I want to see them respond and answer a few questions promptly.) If they're interested, I send them our link to fill out a background and credit check, which they pay for. If it looks good, I take the first person who came in. If multiple people are interested, and good candidates, I tend to take the tenant who wants to sign the longest lease.

I don't really like Airbnb because I find their "remember to respond" emails obnoxious, and getting them to sign a lease outside of Airbnb can be tricky. (We require people sign a full lease.) 

Also, we make tenants give us 45 days notice of departure, so we have plenty of time to advertise it. We rarely have more than two or three days vacancy between stays. Finally, check out "American Nomads" by Erin Spradlin. It's a pretty easy read and has solid info in there about medium-term rentals. 


Thank you for your thoughtful post Jim! This is helpful info.

Post: Marketing MTR & Handling Leads

Valerie BashiriPosted
  • Minneapolis, MN
  • Posts 13
  • Votes 8
Thank you all for the responses.  I think what I really need is tenant placement specialist at the moment.  I'm really looking to find someone that will specialize in marketing the space, handling leads, screening and the lease agreement.  I have a FT career and will be going to grad school this Spring.  

Post: Marketing MTR & Handling Leads

Valerie BashiriPosted
  • Minneapolis, MN
  • Posts 13
  • Votes 8

I recently listed a room in my primary residence as a Medium Term Rental.  I'm marketing to traveling nurses, professionals, and those in transition such as people that may be renovating, or getting divorced.  I'm doing a flexible lease from 1 week to under a year.  I'm looking for feedback to manage my expectations with regards to marketing my space.  I have the room listed on: Craigslist, numerous FB groups, FB Marketplace, Sublet, Zumper, Cirtru, Furnished Finder.  How do you all work your leads?  Just call anyone that says they are interested?  I'm noticing TONS of people are not reading the listing; which is wildly frustrating.  I work FT and 10 hour shifts, so not a ton of time to be following up on leads where people aren't reading.  Also, are there more effective marketing channels to list my room?  I have not listed on Airbnb, as I'm still renovating the basement and I didn't want to risk people complaining that the basement is getting renovated.  That is a fact I will discuss when people come to check the place out.  I have a large home and plenty of space on one floor.  So no one would even know about the renovation except for when they are wanting to do laundry.  I want to know the most effective way to work the leads I get, the best places to post my listing, and how long I should expect the listing to sit before it's rented (a ball park idea).  Again, I'm just trying to manage my expectations.