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Updated about 5 years ago on . Most recent reply

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Karen F.
  • Investor
  • San Diego, CA
420
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Is 150% of rent reasonable for a 3 month lease?

Karen F.
  • Investor
  • San Diego, CA
Posted

A couple of traveling nurses contacted me, looking for a three month lease on a vacant unit I have advertised.  I'm willing to consider it, because it will bring the unit into a more favorable time of year (late spring) for vacancy.  I'm thinking that I should charge 150% of the monthly rate that an annual lease would be - this would still be less than half the price of an extended stay hotel , and do it as a vacation rental, with the entire rental period paid up front.  But I've never done a vacation rental in CT, so I'm not familiar with the current law.  Any advice is welcome.

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Bjorn Ahlblad
#5 Multi-Family and Apartment Investing Contributor
  • Investor
  • Shelton, WA
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Bjorn Ahlblad
#5 Multi-Family and Apartment Investing Contributor
  • Investor
  • Shelton, WA
Replied

@Karen F. if STR is a concern just do a MTM lease and charge whatever you like. Still get a security deposit. All the best!

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