I am considering one of the properties to do a furnish housing. I want to know what it takes to make it a good model. Is cash flow really good or is it too much headache? What is a cash flow look like. I have a 3 bed, 2,5 bath 1800 sf in Houston City in a good area. Traditional rent would be $1800/mo. What would furnished listing look like and how much is the vacancies etc?
@Mak J. Long term? Short term? medium term? Makes a difference. 3/2 would probably do best as a STR in the right neighborhood. Long term there isn't much market for furnished and Medium term (like 1-6 months) not as much of a money maker as STR and likely not as much demand for that size unit.
Don't know the Houston market, but we have midterm furnished rentals in Denver and Colorado Springs. (And a lot of our investor clients do MTRs as well.) In our experience, a rough number we see is that our medium-term rentals make about 1.4x the rent of an LTR.\
Disclaimers galore there: I don't know your market, location matter, furnishings/design matter, photographs matter, your listing set-up matters, etc.
If interested, my wife @Erin Spradlin does a ton of MTR content on YouTube. Easy enough to find her if you search her name and MTRs.
I am considering one of the properties to do a furnish housing. I want to know what it takes to make it a good model. Is cash flow really good or is it too much headache? What is a cash flow look like. I have a 3 bed, 2,5 bath 1800 sf in Houston City in a good area. Traditional rent would be $1800/mo. What would furnished listing look like and how much is the vacancies etc?
In my opinion, you'd have to offer a shorter-term lease to rent furnished and get more money per month. Otherwise, people in that price range typically have their own furniture and want to use it.