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Updated almost 5 years ago,

User Stats

5
Posts
0
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Joe M.
  • Investor
  • Raleigh, NC
0
Votes |
5
Posts

Medium Term Lease Q's: Security Deposit terms, etc.

Joe M.
  • Investor
  • Raleigh, NC
Posted

Hey BP! 

I am listing my townhome as a shorter (medium)-term fully furnished rental (30+ days required but less than 1 year, not Airbnb) and am planning to appeal to travel nurses, interns, and maybe those who just need some temporary furnished housing for a few months. 

Question 1: What sort of terms do you require in this situation? 

- How much of a security deposit do you require for a 2 month rental, as an example? The monthly rent is $1800, furnished, 30+ days lease.

- Do you have tenants pay for & run a credit check & background check each time?  The reason I ask this is ONLY because Airbnb doesn't pull this information on tenants and while my home is not listed on Airbnb, I just want others experience on this. My renters will be people like travel nurses who jump from one rental to the next frequently as they move cities every few months. I essentially am planning to run Credit Check and Background Check each time - unless I hear otherwise from a majority that this could be an issue for this type of tenant. What do you do? 

Question 2: For those who do medium-term rentals, what amenities have you provided tenants?  

I know I need to provide the basics: dishware, cooking utensils, pots/pans. 

- Do you provide more things like a hair dryer? 

- What quality of items have turned out best for sheets, blankets, dishware, furniture, etc.?  

Question 3: Anything novel you've come across during your experience with short/medium term rentals that would benefit someone who's never done it before?  Anything else I should know? 

Thank you!

Joe