General Landlording & Rental Properties
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback
Updated almost 2 years ago, 02/14/2023
Leasing to Insurance Customer
I have a property that until recently was rented long-term. When the tenant of 8 yrs vacated I freshened up the place and now plan to lease part of the year short-term and the other part I'm hoping to get a 5 to 7 mth lease. The property is located in a college town where I hope to rent on football game weekends (and use for my family once in a while). A company found my listing who places displaced homeowners whose home suffered an insured loss and who have a need for temp housing.
My question, how much above normal (annual) rent should be charged for a short-term month-to-month lease? The home would normally rent for $2,500 per month on a year lease. I was thinking 50% above - $3,750? I was also thinking of structuring a declining rent schedule. $4,500 month 1, $4,000 month 2, $3,500 thereafter. Anyone been in this situation and have advice?