FF119 Strategies for 3+ Bedroom Rentals: Ferrari vs. Honda Approach

The Landlord Diaries

In this episode of The Landlord Diaries, we dive deep into the world of mid-term rentals with Tiffany Rosenbaum, Co-Founder of Stunning Stays, a company that manages over 20 mid-term rental (MTR) properties in the Phoenix area. Tiffany shares her inspiring journey from overcoming poverty to achieving real estate success, and why operating larger MTRs that sleep 10+ people is a game changer for investors.

Tune in as Tiffany uncovers the operational secrets that help maximize rental income, attract diverse tenant types, and optimize property pricing — from the “Ferrari vs. Honda” approach. Plus, Tiffany reveals her strategies for furnishing and marketing these larger properties, as well as tips on how to build the right team to scale your MTR business effectively.

Key Takeaways:

• How converting a 3 bedroom home into a 4-bedroom can boost your rental appeal
• Budgeting and furnishing strategies for larger properties
• A deep dive into the science of team-building and hiring for MTR success
• Expert tips for scaling your MTR operations and avoiding common pitfalls

Whether you’re new to mid-term rentals or an experienced investor looking to scale, this episode is packed with actionable insights to help you level up your real estate investment game.

Time Stamps

0:00 The Landlord Diaries Intro

2:10 From poverty to real estate success

4:40 Why to turn your 3 bedroom home into a 4 bedroom if you can

8:15 MTR tenant types staying in larger homes

9:25 Varying types of guests you attract based off minimum # of days

11:10 Pricing larger midterm rentals- “Ferrari vs. Honda”

13:40 Tiffany’s problem with mid-term rental operators…

19:20 Do you start marketing your larger properties once furnished or prior?

20:30 Furnishing & budgeting for larger properties

24:15 A less intimidating way to get started in midterm rentals

27:15 Don’t forget the wall art!

29:50 Mid-term rental property fees & deposit replacement options

30:40 Tiffany captured a baseball accident on camera & confronted the guest(s)

31:40 Tiffany’s bed bug story

32:15 Eliminate security deposits with Furnished Finder’s “Worry Free Waiver”

34:05 The science behind building your business with the right team

35:20 Tiffany is a strong believer in the DiSC profile for building & operating your team

38:00 Why personality tests are valuable for new hires & periodically for existing employees

39:25 Tiffany’s advice for adding your first MTR employee- hire your opposite

42:20 Tips for working with partners or family members

44:55 Vendors are key: The #1 reason STR/MTR properties don’t grow is because of cleaners

47:20 We all start with one property, well structured operators can scale successfully

Website Links:

https://www.furnishedfinder.com/

https://www.keycheck.com/

Tiffany’s Listings on Furnished Finder:

https://www.furnishedfinder.com/members/profile?u=Rosenbaum

Text the hosts with questions or comments. Include your property ID # or email address.

The Landlord Diaries is brought to you by Furnished Finder, where you can list your property for one low price and pay zero booking fees.