SEPTEMBER 05 21, 2023
#44: Mastering Mid-Term Rentals: Expert Insights from Mel Volland
Join us for a candid chat with Mel Volland, a mid-term rental expert, as she spills the tea on how to succeed in this lucrative market.
Mel will share her insights on:
- Choosing the right location: Where are the hottest mid-term rental markets? What factors should you consider when selecting a property?
- Managing your expenses: What are the hidden costs of mid-term rentals? How can you minimize your overhead?
- Designing your property: How to create a space that will appeal to mid-term renters and boost your occupancy rates.
- Acquiring clients: How to market your mid-term rentals and attract high-paying tenants.
- Analyzing and leasing properties: Mel will demystify the complex process of analyzing mid-term rental properties and drafting lease agreements.
Whether you’re a seasoned real estate investor or just getting started, this episode is packed with actionable advice that will help you take your mid-term rental business to the next level.
So what are you waiting for? Tune in now and learn how to make bank with Airbnb mid-term rentals!
Highlights and Key Points:
[02:20] A short bio of our guest; Mel Volland
[03:33] What prompted Mel to shift from short-term to mid-term rentals?
[07:12] Reasons why she loves the mid-term rental strategy
[08:23] Factors to consider when choosing a location for mid-term rental
[10:32] Operating expenses for the mid-term rentals
[14:11] Start-up supplies for mid-term rentals
[17:19] The cleaning requirements
[20:09] Mid-term rental property maintenance
[21:49] Analyzing a mid-term rental property
[27:55] Tips on the best ways to get guests for your mid-term rental
[31:41] The difference between co-hosting a short-term rental and mid-term rental
[34:16] The components of a mid-term rental lease agreement
[36:50] Mel’s advice to anyone who would want to venture into mid-term rental space
Like short-term rentals, midterm rentals are also experiencing saturation, and design plays a significant role in making your property stand out, thereby ensuring an increase in your occupancy rate.
Network with other investors and agents to encourage them to send you guests.
To succeed in midterm rentals, you must shift from the mindset that this is a passive endeavor and instead focus on how you can operate your business to acquire clients.
Action breeds action. ~Mel Volland
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Thanks again, sister – and cheers to your STR success!