Short term rentals (by Cheeky [CT]) Dec 2, 2024 10:18 PM
Short term rentals (by Robert J [CA]) Dec 3, 2024 12:57 AM
Short term rentals (by Bonanza [NC]) Dec 3, 2024 8:52 AM
Short term rentals (by DJ [VA]) Dec 3, 2024 9:33 AM
Short term rentals (by gevans [SC]) Dec 3, 2024 9:38 AM
Short term rentals (by Deanna [TX]) Dec 3, 2024 10:01 AM
Short term rentals (by Jerry [NC]) Dec 3, 2024 11:45 AM
Short term rentals (by Sean [OR]) Dec 3, 2024 8:10 PM
Short term rentals (by Ray-N-Pa [PA]) Dec 4, 2024 7:54 AM
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Short term rentals (by Cheeky [CT]) Posted on: Dec 2, 2024 10:18 PM Message:
Wondering if anyone had experience with furnished short term rentals for traveling professionals, doctors and nurse nurses. Do you like them? Do they work for you?
--32.221.xxx.xxx |
Short term rentals (by Robert J [CA]) Posted on: Dec 3, 2024 12:57 AM Message:
I could never understand why anyone would want a short term rental, because with the same efforts, you could land a fish who's stay a year, two or three!
I have a property on the beach and over the last 40 years, I always kept a Corporate Unit for rental. You know the CEO and his squeeze..... --45.76.xx.xx |
Short term rentals (by Bonanza [NC]) Posted on: Dec 3, 2024 8:52 AM Message:
Not short term. I'm doing mid term and it is working very well. About 2x the LT monthly rent. Works better in smaller places (at least here). --65.188.xxx.xxx |
Short term rentals (by DJ [VA]) Posted on: Dec 3, 2024 9:33 AM Message:
The furnished rentals for the type of folks you describe is called Mid-term. They stay for a few months. Vs short-term, where they stay for a weekend, or a week - maybe two max, while on vacation.
I do mid-term-rentals (MTR) and am loving it.
These folks are easier to deal with, don't tear the place up, well-qualified financially, and in my experience, very cooperative. Easier turn-overs
Smaller places where they have the entire unit to themselves seems to be most desired.
More $ up front for furnishings, but 2-3 times more rent.
It is VERY important to do your homework! Research the state's and city's laws regarding MTR's and go where they don't make it so difficult for you. Research what other MTR's are available in the area & what they offer for what price, etc. Choose somewhere near to employers who employ temporary workers. --72.218.xx.xxx |
Short term rentals (by gevans [SC]) Posted on: Dec 3, 2024 9:38 AM Message:
I had a niche market with miltary tenants, six months at a time. Per diem rental for more than twice what it would otherwise rent for, but of course some extra expenses.
We loved it, rode that gravy train for5 7.5 years, but the base has now built housing for that group.
They were all pre screened career military, top notch tenants.
Never an empty in 7.5 years.
--74.222.xx.xxx |
Short term rentals (by Deanna [TX]) Posted on: Dec 3, 2024 10:01 AM Message:
Short-term is weekenders, visitors, in town for a wedding or a funeral.
Mid-term is nurses, doctors, utility workers in town for a temporary assignment but their real home is elsewhere.
Long-term is a traditional rental.
Since I do mtm, I've rented to plenty of mid-term-type workers, but nothing furnished yet.
If you do furnished, parking and location are important. You'll probably end up spending $5-$10-$15-$20k on furnishings, depending on what you have on hand vs their expectations vs whether you're buying retail or you have an opportunity to acquire discount items. (ie, those places where offices or hotels send their equipment for resale when they go under/renovate.)
All the mattresses I bought seemed to end up one or two steps firmer than what I thought I was buying.
My anesthesiologist has his family visit him periodically, so he's not big into shared housing, like a rooming house. But my factory workers are used to sharing space.
So a lot depends on whether you're trying to market a midterm rental to one person at a higher rate, or if you're interested in marketing a midterm rental to multiple people, at a higher rate. --172.59.xxx.xx |
Short term rentals (by Jerry [NC]) Posted on: Dec 3, 2024 11:45 AM Message:
I do Mid-Term also. I enjoy hosting healthcare professionals for 3 months at a time. They are at work 12 hours per day, and they don't cause a lot of wear and tear on my place.
A lot of them travel with pets and I put a bit of time into screening the pets up front, but otherwise not much upfront work at all.
I have a couple of 400 sq ft 1-bedroom units and both stay full year-round. They check in and out remotely. I never meet most of my residents during their entire stay.
--136.61.xx.xxx |
Short term rentals (by Sean [OR]) Posted on: Dec 3, 2024 8:10 PM Message:
We have a couple of short term rentals. Definitely more work than LTR and MTRs, but you always have your eyes on the homes and it pays a lot better. --34.100.xx.xxx |
Short term rentals (by Ray-N-Pa [PA]) Posted on: Dec 4, 2024 7:54 AM Message:
I just bought my first MTR rental. It was a STR before and it is in an ideal location for STR. I am not sure if the MTR will yield awesome results. --24.101.xxx.xxx |
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