My #1 Midterm Rental Site for Finding Tenants (Including Nurses)
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- Опубліковано 17 тра 2024
- Learn the different midterm rental platforms Erin Spradlin uses to source traveling nurses, remote workers and other furnished monthly tenants.
⏱️ TIMESTAMPS
💡 00:00 Reasons your midterm rental isn't renting
💡 00:35 Midterm rental demographics
💡01:19 Midterm rental occupancy rates
💡 02:12 Midterm Rental UA-cam Channel
💡 02:22 Midterm Rental Consulting packages
💡 03:10 Furnished Rentals on Zillow Rental Manager
💡 04:34 Facebook Market Place Rentals
💡 04:54 Furnished Finder and Medium Term Rentals
💡05:21 Airbnb Month to Month Rentals
✅ ✅ ✅ Find free leases, welcome docs and checklists HERE. ✅ ✅ ✅
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✅ We are real estate agents that service Denver and Colorado Springs for buyers, sellers and investors. 🏠🏠
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📖📖 *Real Estate Books by Erin Spradlin on Amazon* 📖📖
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#airbnbmonthlyrentals #airbnbmonthtomonth #airbnbhosting #airbnbhost #airbnbhosts #midtermrental #midtermrentals #mediumtermrental #mediumtermrentals #rentalproperty #rentals #rentalsites #zillowrentals #furnishedfinder #airbnb #realestate #firemovement #landlord #realestateinvesting #realestate #passiveincome #erinspradlin
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✅ Need a second opinion? Help running your numbers? We offer midterm rental consulting, and you can book in one hour, two hour or six hour sessions. Email me at erin@erinandjamesrealestate.com for more information.
Great information, you got a new subscriber!
Thank you!! Welcome to the channel.
Good info thanks
Love the new camera & mic. You look and sound great!
Thank you, Donna. Your support is very appreciated!!
Really liked your guide book.
Thank you! I love reading that!
Hi Erin , Thanks for the information,u are quite knowledgeable. One thing I'd like to mention is Furnished Finders have gone up 50%. Apparently the have had numerous complaints by the landlords as to navigating on their web site. Thanks again for the rest of the info, very well done
Thank you! I agree the website could use a refresh.
Thank you
Thank you for watching.
LOL That is how I feel about one of my rentals being a shed but it's really not. I think I will stick with Furnished Finder but thank you for your videos. They are very helpful.
I think you only need to be on as many sites as it takes to get rented. If you are having success on Furnished Finder, there is no reason to switch. If not, you may consider some of the other platforms.
@@erinspradlin_rentalconsulting Thank you for that. I noticed that some people have issues finding renters with Furnished Finder but with one of my properties in Seattle that has not been the case :)
Just getting into this business and found your channel. Great content, do you have information on insurance and LLC ? Thanks.
Absolutely. I have lots of thoughts on both. I recommend booking time with me through the Stan Store (stan.store/erin_spradlin) to get a deeper dive on these topics.
We are doing our 3rd flipper. It happens to be 3 miles from a college and 5 miles from a hospital. We were going to sell it but at the grocery store tonight we heard someone talking about renting to traveling nurses. Lightbulbs went off and we are now going in a diff. direction. We know nothing about rentals. Ty for your videos! Hoping to learn something fast!
Thank you for reaching out and the comment! I hope you get the tenants you want!
Hi there, what do you think about Evolve property rentals? they are based out of Colorado.
I have never used them... but I've heard some mixed reviews.
Great video. Do you need to set up a lease agreement for anything 30 days or more if it’s coming from AirBnB? I feel like at that point they would have tenant rights vs being a guest.
This is a very common question. Right now, you can add a lease to Airbnb's rules, but I am not doing that. Here's more context on why: ua-cam.com/users/shortsGnTkY2d3eFI
Great Video! Quick question : Does listing on AirBnB as an MTR make us liable to pay Hotel occupancy tax as is the case with STRs?
I think this is a city to city issue, and 30 days may be the exception. The Planner of the Day would know. This is what Airbnb has to say.
We automatically collect and pay occupancy taxes on behalf of hosts whenever a guest pays for a booking in specific jurisdictions. Hosts may need to manually collect occupancy taxes in other jurisdictions and in certain listed jurisdictions where Airbnb does not collect all applicable occupancy taxes.
No, typically, if your booking is 30 days or longer, there is no sales tax or hotel tax.
I have to change my ADU to a 30 plus day rental after so much success as a short term rental. Thank you CA laws turning everything upside down. I’m only on Airbnb so I will change my listing to 30 + day. Thank you Erin for this info. I was wondering how airbnb was handling the mid-term rental issue. I’m still trying to figure out a second option to list on. I have a 1 bd, 1 ba, full kitchen, laundry, pool, pickleball guest suite in Folsom CA.
Thank you for watching! Please email me at erin@erinandjamesrealestate.com if you would like to set up a consulting session. Would love to do a review on this and help you plan for your next steps.
What CA law? Is this new? I’m in CA and was considering renting out our casita as an STR.
@@mamabar6811 just check with your city before doing an airbnb in an ADU. My city even gave me a business license and renewed it in June. I went to the city and had a meeting with the city planning director. He said i never should have received a business license. Some cities are allowing airbnb in ADU’s but most are not. My city (folsom) had a meeting with the city attorney and they decided to side with Newsoms law of no Airbnb in ADU’s. I have listed mine on Furnished Finder and just got a renter for 2 months. Hope this helps.
@@mamabar6811 call your city planner and find out the regulations first. If it's your primary, it may be okay BUT you need to check.
We have the same rules here in our small suburb in sw Virginia.
Thank you for this video. I’m brand new to vacation rentals. May I ask what color the accent wall is behind you? It’s beautiful and I think my condo needs an accent wall. Do you talk about styling & decor in your set up book?
Thank you!! That is so sweet and, trust me, that fireplace got repainted a few times. The color is Iron Mountain by Benjamin Moore. www.benjaminmoore.com/en-us/paint-colors/color/2134-30/iron-mountain
I do discuss decor sometimes, but I can probably make a video to help on that.
@@erinspradlin_rentalconsulting thank you for your reply. I've already purchased your book and am going through it.
@@may4my AWESOME!
@@may4myso how was the book? I’m in the same situation you were except the decorating part. I’ve got that down 😉 and accent colors are good! Create grounding and coziness.
Great stuff! Would not have thought Airbnb was the biggest feeder. I know they are pushing the midterm rentals more, but I thought it would be a few years before they took over. Seems like it's already happening.
They are definitely a big presence in this market.
I take it best case scenario would be to use both AirBNB and Furnished finder? But it might cut into net profits once I run the numbers. Thoughts?
Furnished Finder costs $99 for the year, but Airbnb just takes 3% out of any sales you have. This is more money for longer stays, but I'm finding I can command more on Airbnb as well- so I've been fine with it.
How are you worried about it cutting into your net profits?
Hi, I would love to know more about how it goes with renting to collage students for a mid term.. I feel like I would be worried about the furniture etc..
I mean, like any demographic, there's diversity in how they may act- but I've rented to a few different sets of college kids and found them to be great tenants. They communicated well and were laid back. Our last group seemed to entertain a bit, but we never got noise complaints and the place looked totally fine when they left.
Hey. On Zillow manager how do you set the price? Do you do it market value like suggested or do you go 30-50% over?
Depends on the competition- but I definitely make it more than the long-term, unfurnished price.
Based on Airbnb fees being higher, do you have a difference in pricing for the same unit listed on Airbnb versus that listing on FF, ZRM, etc. ?
Not really. Airbnb costs the host 3% more, but I'm not too worried about that for 3 month or shorter rents. It is a bigger issue if someone is going to rent for 6+ months. Also, depending on the season/platform demand, I start high across all platforms and then bring the price down as I get closer to the rental. Point being, I don't have a hard and fast rule on this, I just start high and drop depending on demand- and that's true across all platforms. You likely lose a lot more money for every day you aren't rented than for hitting the perfect price point.
@@erinspradlin_rentalconsulting thanks so much… enjoy your channel. Super good info
@@ctuna Thanks!
Great video.
Thanks!
I have so many questions! Do you worry about renting to college kids? Do people ask to negotiate the rent amount you post on Air BB? I would imagine you have to register your units with the city? Do you have to run the background checks if you post on Air BB?
Haha. I think you emailed me too. I'll respond there as this is a lot of info to cover. Safe to say though, these questions have answers/good resolutions!
How do you compare Airbnb to VRBO? Do you feel Airbnb is better for midterm rentals. Thank you!
I've actually never really used VRBO, so I don't compare the two.
How do you vet renters on airbnb? I'm used to FF where I can vet tenants thoroughly and I can have a lease signed. But I find that airbnb users are turned off by background checks and leases.
Great question. I get a lot of inquiries about that, so I did make a short video on it, which you can find here. Hope it helps! ua-cam.com/users/shortsLq-XZFkthy0
Don't ever take anyone who is local. Also, state you will not take any third party renters unless they are transparent about it. Sometimes positive reviews are not reliable. I had an AirBnB guest who had great reviews, but he was super sketchy (sorry, to difficult to elaborate here.) Put all of your deal-breakers in your description, such as no smoking, no guns, etc. because that is your "lease." If a guest breaks those house rules, AirBnB will support you in kicking them out. If you don't have it written down, you have nothing.
I am getting requests for showings, how do I do this? I am not comfortable doing self showings and I am a remote landlord
Hey there- Please email me this question as well as any other questions you have and we can get you set up for consulting. Thanks! erin@erinandjamesrealestate.com
@@erinspradlin_rentalconsulting😊
I don't know what im doing wrong. My house is just not renting, its been 2mos and ive made sure i specifically paid attention to the details.
Sorry to hear that. Please email me if you'd like a review and more specific instructions on how to optimize your rental listing. erin@erinandjamesrealestate.com. Thanks!
0:59
Are you decorating it so it’s a cozy vibe? People go for updated cozy NICE places. They’re hard to refuse.
Airbnb fees are more than 3%. They also charge the renter 9.3%. So, if you charge $1,000 per month, the renter pays $1,093 and you net $970. The host (landlord) can choose to pay the entire 12.3% and work it into the rent amount so the renter never sees the added fee amount.
No, that's not true. The host pays 3%. The tenant may pay something else, but it is 3% of the total sale on Airbnb.
Do you set your minimum stay to 30 days for Airbnb?
Yep
@@erinspradlin_rentalconsulting does it lower your booking rate?
@@Ashiryamills I know occupancy is a big concern for a lot of people, but that hasn't been my experience. I've kept my rent rate really high- so I'd say, no, I'm not getting penalized for it.
My property is not renting.
I only got week end bookings on airbnb and a few weekdays.
Hmm. Why do you think that happened?
How do you get the midterm renters on ABNB.?
You change some settings on the back end and also speak directly to the issues that the 30+ day crowd cares about in the Airbnb headline and Airbnb description.
how do you underwrite a property as a mid-term rental?
What do you mean by that? As in, what are your expenses, what rents, which metrics am I looking at?
Yes, before you purchase a MTR property, how do you know if it’s a good deal? Same way as a STR?
If you list on Zillow don’t people expect you to show them the place?
It depends. It is all about setting expectations. I do a video and share that.
Where do you get your furniture for your rentals?
Amazon for the most part. Here's a furniture checklist I built out for Airbnb monthly rentals and/or Furnished Finder rentals.
docs.google.com/document/d/10hHYkfqQ_nr9UG8H6BLSe-_M642nSVFSLFcyx11nCRY/edit
Does Furnished Finder and Airbnb‘s calendar sync?
I don't know because I've always done it manually.
Yes, they do.
How do you find Market Value for your area?
This is probably a bigger discussion. Please email me if you'd like to set up a call. erin@erinandjamesrealestate.com.
Hi do you charge a deposit and you do a contract?
I don't do either inside Airbnb.
Furnished Finder is not a top contender?
To be fair, Furnished Finder is tied for second place, but, no, they have not been my dominant source for renters for the past ten rentals.
Are you renting rooms or entire units?
I have a few clients that do rent by the room, but my preference is the entire house.
I used Airbnb for 4 years and customer service was unacceptably terrible.
Sorry to hear that. I know Airbnb has 24 hour service as part of their AirCover, but I'm not sure how good it is.
I’ve researched furnished finder for properties in my area- SO UGLY!! None are renting and we have 2 major hospitals and a V A hospital, Roanoke college all within 5-15 min. Virginia tech 30 min. 2 civic centers. Trucking school etc. Research on decorating!! It matters!
Agree. Decorating definitely matters.
2023/2024 I am a Traveler in Medical used it prior & after during the pandemic. Most medical folks are staying in a RV/ Van/Car now due to lower pay & less job security after renters failed to lower rates especially in big cities. Also, the folks on Furnished Finders renting are often just not right in the head & just wanna take advantage. Like for example it’s none of your business about my Credit score- I’m not moving into the space as an apartment - we already have our own homes at home- we’re just traveling to work. So these are the reasons many in medical that were seasoned travelers ( not just temp because of COVID rates). Plus when you want a break a day or 2 for luxury you can stay in a hotel with spa/pool/etc ( who will also offer long term stays)
Trust me I know- I’m one of them ( travel Nurse) & Van/RV/Car living is Best decision ever made!
Okay. Thanks for your thoughts on this.
Good info thanks
You bet. Thanks for watching.