DO NOT Try Mid-Term Rentals Without Watching This Video
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- เผยแพร่เมื่อ 21 ก.ย. 2024
- The increasingly popular topic of mid term stays has a dirty little secret. It is NOT what you think. This is the truth about mid-term stays.
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Hi Sean, the link seems to be dead
PS...NEVER try to have them sign a lease. Only a Rental Agreement that outlines their rights. Once you cross that line, you give them Tenant Rights. You will need to evict, you will have to go to court, you will lose your tails because "tenants" know how to work the system. All we do is call the local police, show them our Rental Agreement (that was written by an attorney just for this exact purpose) and they are out in 10 minutes. Everything left behind becomes ours. You are NOT their landlord. They are NOT your tenant...they are guests.
What happens if you are in California? If your rental agreement is 30 days or over, they are considered tenants and must be evicted thru court
That’s not how it works… in many states, as soon as they’re stay for a certain number of weeks, they’re automatically considered tenants. If they pass that threshold without a lease, evicting them will be a nightmare.
@@mallenbiker This is true, although talking to an Attorney will verify this. In other states, a rental agreement is easier for police to follow and for lawyers to get thrown out of court faster, than a residential agreement. The point is to avoid having to evict....Police officers are not privy to details in the law so if they refuse to kick them out for trespassing...you are stuck with a court date...and if a judge sees a residential agreement rather than a rental agreement....then its months before eviction rather than a few weeks... when it comes to legal stuff consult a Lawyer cause its a matter of when you will get your property back.
Thanks for this comment! Do you think it would be better to say Lodging Agreement? Or saying rental will do just fine?
@@notanotherone5564 only took me 45 days, I was diligent. Cost me about $175. Sucks but it isn't what many expect. Most of the time the deadbeats don't even show up to court which shortens this nonsense. The only tenant I have even evicted was a long term tenant not a short or mid term tenant despite me doing only mid-term for the past 4 years. Love the content on this channel.
Hey Sean - truly appreciate your content. It's definitely made me more money. I'm a stats nerd and everything you say makes perfect sense.
Insights In your prior vjdeos landed me to midterms for spring and fall... Travel nurse both times.
Thanks!
Thanks for your feedback. Do you mind me asking how far you are from the local hospitals? And is it a condo apartment or a single family home? Thanks in advance
I'm so glad you're touching on mid-term rentals Sean! I now have 3 mid-term rental arbitrage properties. I know I'm going to learn so much more from you, I'm excited 🎉🎉🎉
Ya, all true and well presented. I'm small, certainly not at the same scale as Sean but I have noticed a gradual but consistent uptick in platform users inquiring about mid term even though my listing indicates I don't do that at discount, or long term (my max is 28 days at full pop less a 10% discount- this keeps undesirable clientele away)...tenant laws in my jurisdiction make any other option an absolute no-go. I am a relatively remote estate property operator. My occupancy is just fine.
Sean, I have to change my STR to Mid Term per city and state regulations and laws. (Friggin CA!) Thank you for this info. I will keep watching future videos as I need to learn how to change over to mid-term on airbnb.
We have 61 apartment currently. Started with ZERO before watching Sean. We had abouy 40 at the time Covid hit and Airbnb gave back all of our booking money. We were forced to pivot and did just this strategy. Now, we only have 14 remaining on Airbnb/VRBO/BDC, all others are rented on a weekly basis. We NEVER have to worry about management companies now allowing Airbnb rentals. We are a Corporate Housing Company, and it's not a play on words. We list our properties on FB Marketplace, FB Paid Ads, and Craigslist...that's it. We charge $595 per week for a 1 bedroom, $645 per week for a 2 bedroom, and $695 per week for a 3. We also bump rates $25 per week after somebody has been there for 8 weeks. Nobody has moved out because of these increases. Oh, we also have a 4 week minimum. This would be beautiful for those of you who have HOAs or town restrictions of 30+ days. We make MORE net profit this way charging by the week, and we have total control. Airbnb isn't looking for new ways to screw us over every day. Guys...it's a total no-brainer. Airbnb/VRBO/BDC are sinking. And, with the terrible people who are produced through these platforms, it's time to hedge your bets and stop going all in with these platforms that don't care about you. -Jeff
Can you share in which market you operate?
Can you explain why your increasing the price after 8 weeks and why that helps people stay? Thanks!
It increases his profit without losing occupancy
@@AirbnbAutomated thanks Sean. That is great that people will pay the increase and remain in the unit.
Honestly I was blown away by the amount of amazing info left in Jeffs comment. I feel like he just dropped a gem right there. Also thank you for everything Sean!
It’s a little genius. It speaks to a real overlooked advantage in this business. Fight for every dollar.
I bought a 265 page book about Mid Term rentals called 30 day stay. It went on & On & ON about the authors and how great they are.
In the end they basically just said use airbnb and furnished finder.
Glad I bought the ebook and it was cheap.
Gahhhh. Such a standard in modern writing. All fluff
Shottt I just ordered that book from Amazon and it’s coming today… even though I only paid 13 bucks, it’s a waste of money eh?😳
I bought it too and thought the same thing. 😂🙄
Love your t-shirt, Sean! Banff is my favorite place...💖✨ Bet you loved it too!
such a beautiful place!
To get ppl into your course, you should do free "property analysis" in you don't already to show ppl what's missing or not missing on their property in order to get mid-term rentals.
Hidden away in one of my many other videos here on TH-cam
In Toronto, we are restricted to only str
up to a max of 180 days per year. Therefore , for the remainder of the 6 months, we have to do mid-term. I offer free weekly cleaning on mid term to stay competitive
Grate stuff as usual Sean !
I am definitely going to find the way to get in contact with you for the proper guidance
Yes Sir !
I do a majority of monthly stays by offering a nice monthly discount of 15%-20%. I save a ton on cleaning fees with a higher occupancy rate.
No. We don't offer a single nickel for a discount. Our cleaning fees are $150-$200, and we charge a $500 refundable deposit. Oh...and doesn't fall under the Landlord/Tenant laws in most states, so no "eviction" like a tenant. Just call the police, and they have 10 minutes to vacate. :)
How much do your units typically come out to per month if you don't mind me asking
@@drewgarrison185 You can calculate it yourself as @jeffmartinaz gives all his numbers in the comments above
thumbs up for the pic of DETROIT!!!
Master 🙏🐐 you ‘re the best men , really good information 👌
How to calculate fee for extra guest?
Great content keep going!
I always learn something new.
Sean thanks a lot for your informations as always you’re a lot of in front of everyone.
I like the graphs. Very informative. I love midterm rentals personally
Me too! pretty slick.... 😏
Went from saying STRs to furnished rentals because we do a lot of midterms
I feel like I have no other option than to pivot to the mid-term market now. The short term space is such a slog right now and I'm having a hard time staying afloat. Granted I only started two months ago and it's the slow season but I've done everything I know how (included in your course) to maximize our listings. I genuinely feel like our current market is a major contributor to the problem. Just doesn't seem to be an advantageous place for STR at the moment. Besides, it seems like mid-term guests are generally much better guests than short term ones. But again, I'm a rookie with very little experience here.
Four years for us specializing on 30+ day rentals. Best. Decision Ever. I may consider opening up some days between long term stays but if my one and only cleaner can't handle it I won't continue doing it. It is hard to find realiable cleaners.
What is your metro?
@@LeroyGrider Charlotte, NC. No shortage of people escaping CA, NY, MI, etc. Many are moving here. I read yesterday we are the third most rapidly expanding city in the southeast. Something like 133,000 people moved here last year. That is insane.
@@LeroyGrider I'm in Memphis
@@imnitguy where do you find your tenants?
Loving the mid term videos!!
My dumbass township will not let me get an STR permit so I’m going midterm. Thanks for this video. It’s gonna be considered “long term.”
Roxanna, DO THIS. We have more than 40 of them like this. Your town can blow it out their ear. They can't do anything to you if you use this strategy.
@@jeffmartinaz how is it going? I have two hospitals nearby. I’m gonna try furnished finder
@@roxannaponce9505 meh - furnished finder seems to have (mostly) unreasonable renters from the short time I've been a member. They're sending me nonsense like $1200-$1600 a month. One guy wanted an empty apartment so they could move all their new furniture into my rental? Shesh.
@roxannaponce9505 curious how you have done since going midterm? I just got denied for an STR permit as well and looking for other options.
@@marvinedmond7661 I’ve had a lot of luck with it! People don’t directly book so you have to make phone calls or message back and forth. They have another website they work with called Key Check that helps you write up leases and run background checks! I had someone every month consistently since I switched and all pretty good tenants! Best of luck!
Also you might still need just a basic rental application be approved through the township like you would a long term one so just make sure you have gotten that as well! It runs just like long term where I’m at with a STRs being stays less than 30 days
Can someone point me to the relocation video? I’m interested in outbound leads
can you do a video about taxes for air bnb mid term rental
I gotta say my str stays have disappeared so that why I’m switching to mid term..suxs but I’m just adapting
what do the stickers say on your lamp!?
What does this do to over all property values in the long term of an area?
mid terms have really been great during slow seasons
Great shirt!!
hey man just a quick feedback You have high value information no question the only problem I have is I cant remember your name I always have to remember a video title to find you haha maby change your channel name to something easyer to remember or maby its just me thanks for the help
I had to change it from “airbnb automated”
(Airbnb legal team situation)
But search that and I’m still front of search.
You could also subscribe and hit that bell. 🛎️
Did he do the MTR relocation company video he talked about? I can't find it on his channel.
Thank you 😊
Will this require having to spend 10-15 hours a week on sales calls to agencies and insurance companies or other for mid-term?
If you NEED occupancy right now, that’s something I suggest . There are some more passive ways to pull it off but the sales come when they come
Sean, where I live I am doing really good with Aibnb but my town only allows me to have 3 properties maximum. What would you recommend I do to keep scaling in my town?
Easy...set up a new LLC/C-Corp. You don't "own" any of these leases...your corporation does. It's considered a living entity.
@@jeffmartinaz Thank you for the advice
@@jeffmartinaz in my jurisdiction the county make you prove who owns the LLC that owns the property
I am being forced, to do mid term market in my city!
It amazes me how many municipalities want to dictate what one can do with their own property. Charlotte Mecklenburg was about to unleash a new UDO (unified development ordinance) on us telling us we can't have one within 400 feet of another one and all sorts of other bs. Well Wilmington NC government was sued and the litigants beat the city which unraveled all the nonsense Wilmington and Asheville have been doing to property owners. Since this decision was on the STATE level and it was like a 9-2 ruling, most of the requirements went out the window. I have heard of no further plans regarding what the Charlotte city council plans to do but it ain't what Wilmington tried. Google for the story if you're interesed to learn more. And stand up for yourself and your property rights!
Look at it as an opportunity "I get to do this" vs "I have to do this" Mindset is everything to capitalizing on changes.
How you do 3 or 4 days discount? I only see option for a week, month
Go back to my recent videos on discounts
@@AirbnbAutomated wait, that sounds like the customer service rep who could have copied and pasted the link about the arrival instructions but sent out a meh reply... ;-) Just bustin' your balls Sean, have watched many videos, keep up the good work.
just dropped rn go fwm
Does the master respond?
No lol