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Updated almost 5 years ago,
Anyone have success with Medium-Term Rentals in Colorado Springs?
Hey Team,
Unfortunately, the wife and I have to pack up and leave Colorado Springs this summer. The Army has seen fit to finally send me to my next assignment. As much as we'd like to stay, we have to go and leave our house (that I own) behind.
To that end, I've had moderate success with STR in my home while I live here (average about $650/mo for a single room and shared space). But now that we're leaving for good, we have a choice - traditional long-term rental or furnished medium-term rental?
I know the pros and cons of each generally. But to get a baseline of what I can expect with medium-term rental, I wanted to ask folks in Colorado Springs who are successfully running a furnished medium-term rental about their success, rates, etc. so the wife and I can make an informed decision between long-term and medium term (and copy your business model).
We have a 3bd, 1.5ba 1,500+sqft SFH on the West Side (best side) in a totally-zoned residential neighborhood. One car garage, large front and back yard. Updating the half bath to make it a full, installing new flooring, and updating the kitchen.
So...what's your data? How are people who are operating furnished medium-term rentals in Colorado Springs operating? As an entire house and allowing subletting? By the room? If by the room, how are you managing several-different rooms? How much are you charging? What's your occupancy rate?
"I just want you to answer all of my questions and not act like I'm being annoying at all."
Thanks!