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Updated about 2 years ago on . Most recent reply

User Stats

91
Posts
41
Votes
Bob Foglia
  • Investor
  • Phoenix, AZ
41
Votes |
91
Posts

Medium-term vs. long-term and furnished vs. not?

Bob Foglia
  • Investor
  • Phoenix, AZ
Posted

I will be moving out of state but would like to keep my primary residence as a rental. 

I was contemplating leaving all the furniture and setting up a "room share" medium-term rental over a traditional lease agreement. BUT... it seems that with the increased management fees and utilities being "included in the rent" I may not really net any more than going the traditional route. Does anyone with experience in this space have any thoughts? 

Follow-up question: I know leaving it furnished is the way to go with medium-term (or short-term) rentals... What about furnished long-term rentals? Is that a plus or a minus?

Denver property managers are welcome to contact me as well.

Most Popular Reply

User Stats

91
Posts
41
Votes
Bob Foglia
  • Investor
  • Phoenix, AZ
41
Votes |
91
Posts
Bob Foglia
  • Investor
  • Phoenix, AZ
Replied

Thanks for all the input. 
I will me moving out of state, so I won’t be able to self manage the property. 
I rally didn’t want to move my furniture (new chapter, new stuff, right?). 
Anyway, I thought the room share setup would cashflow better than than a LTR, but after a very limited amount of research, like @Ginger Pruitt  said, that doesn’t appear to be the case here in Denver. I was hoping somebody was going to tell me otherwise, but the numbers just don’t seem to work out that way.

It may be time for a big garage sale!

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