When Increasing STR Restrictions Present a New Opportunity
HOW A FURNISHED FINDER MID TERM RENTAL CAN BE THE NEXT PAGE OF YOUR PORTFOLIO
Have You Wondered
“Does my mid term rental really need all the bells & whistles of a short term rental?”
When one of our short term rental clients came back to us as she was purchasing another property, a Palm Springs condo, she gave me a disclaimer, “It’s going to be a mid term rental.” Then she asked if it would need all the bells and whistles of her prior short term rental we’d designed. My answer was, “Yes…but different bells and whistles.”
In 2022, the Palm Springs City Council set a new ordinance that now limits number of guest stays per year from 36 to 26; plus, they put a hard cap on the number of short term rental certificates issued in any given neighborhood—20% of STRs per residential neighborhood. With that cap, home prices dropped. Eann saw an opportunity to buy; and, she embraced the breather she could get from the short term hosting hustle…But still, would her new investment be marketable?
* Spoiler Alert *
JUST TWO WEEKS AFTER THE AUGUST 1ST MID TERM RENTAL LAUNCH OF THE WELL AT PALM SPRINGS, THIS PROPERTY WAS BOOKED OUT THROUGH THE NEXT SUMMER
How do you give a mid term rental the same appeal of a vacation rental? Start from the beginning:
Branding Blueprint
You shouldn’t treat your mid term rental creative development any differently than the development work required of your short term rental. This Olive Jar approach remains consistent. The Well at Palm Springs didn’t get its name or design direction out of nowhere. It was conceived within our Branding Blueprint. Before breaking ground on design, the blueprint is where we set the stage:
Identify & describe the target traveler
Determine target traveler’s greatest needs
Define brand filters, aesthetics, mood, and color palette
Tie it all together to form the design CONCEPT with name, story & imagery
“I’ve come to Dawn three times for my two properties [1 x STR + 1 x MTR]. The Olive Jar’s whole-picture approach is an investment that has paid off in spades with increased bookings and higher guest satisfaction.”
DON’T SKIMP ON THE CONCEPT
THE WELL AT PALM SPRINGS is a mid term rental with everything the traveling business professional needs. While in town for extended work obligations or working remote by intention, they are seeking an extended stay with the feeling of "home" that's clean, accommodating, harmonious, grounded and motivating. This traveler desires a touch of inspiration for both productivity at home and new experiences beyond. Venturing out on the weekends and inviting guests in are both valued priorities for this guest in creating a healthy, connected, work-play life balance.
From the moment they arrive, they can settle in with ease, no brainwork required, thanks to the host. Functionality with thoughtful grounding design details, and smart storage that guides, will not only promote keeping an organized environment, but also result in clear headspace and motivation for living fully--even in a temporary dwelling. Considering that intimate spaces can feel cluttered and disorganized quickly, this rental host has thought of every space through the lens of wellness.
Southwestern minimalistic aesthetic executed by mid-century modern designs, paired with Navaho pattern work, will provide a clean, airy space while still providing inviting comfort and warmth. You may spot a motif of sharp, meditative line work contrasted by clean backdrops throughout. Even with minimal decor, by using select quality goods and layering texture & patterns on clean surfaces, The Well will never appear as a "budget" rental.
BRAND FILTERS
CLEAN - ACCOMMODATING - HARMONIOUS - GROUNDED - MOTIVATING
EXECUTING THE CONCEPT
Now we could get to work with interior design updates and styling materials. We tackled priorities first. We’ll highlight a couple in this article:
Because Eann would be repurposing the hallway closet for a washer/ dryer & utility storage, it left guests without storage space of their own. The storage we needed to provide her guests would be:
Luggage
Amenities: fan, iron, steamer, etc.
Concealed hamper
Dresser drawers
Open shoe shelves
medium - short hang clothing poles
On top of that…we wanted to get rid of the dresser because it opened up the bedroom floor space, buuuut, then we lost drawer storage.
SEE THAT OPENING IMAGE—we looked to the closet for the catch-all solution. Originally, it was a standard closet with a clothing rack and top shelf. So we thought “REHAB.” This whole corner of the room would become a focal point beauty! So we got to working with our friend Sabina from California Closets for a custom design from concept to completion. We needed a multi-purpose design to check off that wish list above. Also, we couldn’t miss an opportunity to stylize this build—like a peek-thru wall paper backdrop and accent decor detail. What do you think of the final result?
DON’T MISS A GOOD BEFORE/AFTER
Next on the priority list…we had to design a stellar workspace for this business traveler. With an inmate space, we were challenged to find a location that could actually fit a desk. Watch the satisfying before/after payoff in the video linked below. Here’s how we did it:
There was an accent wall space between the dining and living area that would serve no function for the guest—not to mention, the existing art fixture was suuuper dated. So we got rid of the old and re-created the perfect location for an innovative desk solution, elevated with surrounding mural work by the talented team at Rosemont Lane. By the way, this wasn’t just any desk. It’s a wall-mounted flow desk, and it' paired perfectly with that delightful Anthropolgie cushioned folding chair. Both are so easy to fold up and tuck away.
Intimate floor plans don’t scare us. This space turned into a creative, functional solution to a top priority for our target traveler—it’s precious real estate we saved—and it became a beautiful accent wall moment. We were picturing the listing photo from day one of this design development.
Photo credits go to Third Wall Photo. See The Well at Palm Springs Airbnb listing for more!
BOTTOM LINE
If you think of your rental design like a full course immersive meal experience, your marketing legwork is the way you set the table—it visualizes the vibe and framework for how your guests will experience the meal. That’s why the branding blueprint is essential to the process.
OH, AND BY THE WAY
We didn’t even touch mid term rental amenities in this article! It’s the next layer of the cake (sorry not sorry I shifted the food metaphor).
IS IT Time for you to MAKE A pivot?
Maybe you’re considering a property purchase for mid term renting. Reach out for dedicated help with direction. Or, maybe you’re reading this article to consider an STR-to-MTR pivot with your CURRENT property. Is that you? We offer focused listing audits with structured action plans that will road map your next moves, right from the comfort of your own listing page. We’d love to assist!
have any mid term rental success stories?
Do share! We love hosting space for The Olive Jar community to support each other. Plus, if The Well at Palm Springs case study was helpful—tell us why!