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Updated over 2 years ago on . Most recent reply

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Eric Eckl
  • Frederick, MD
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2 BR/2.5 Bath Townhouse for Mid Term Rentals?

Eric Eckl
  • Frederick, MD
Posted

Hello everyone, I've been stalking this forum for a while, so helpful! This is my first post.

I am contemplating turning my renovated historic downtown rowhouse into a mid term (30+ days) rental while I am out of the country for a couple of years. It's a nice house located near a hospital, college, and military base. It has two dedicated parking spaces in an area where that is rare. I have some questions about this possibility, and I'd be grateful for your opinions. 

* Are there enough mid-term tennants seeking a full house (2 beds, 2.5 baths) all for themselves that I could expect a good occupancy rate at fair market value?

* Is renting out each bedroom separately to mid-term renters a good idea? They would have to share entrances and the kitchen. I ask because most mid-term rentals around here are for single rooms or in-law suite type of situations.

Thanks in advance for your thoughts!

Most Popular Reply

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Michael Baum
#2 Short-Term & Vacation Rental Discussions Contributor
  • Olympia, WA
6,626
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Michael Baum
#2 Short-Term & Vacation Rental Discussions Contributor
  • Olympia, WA
Replied

Hey @Eric Eckl, I agree with @Bruce Woodruff and @Conner Olsen. With you being out of the country, a long term rental makes much more sense. Any kind of STR or MTR will take more work on your part and you are half a world away. If you get a PM, you will just lose most profitability whereas a LTR PM is much less expensive and will most likely yield similar profits while you are gone without the headache of tenant changes.

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