Rookie Episode 232 Medium Term Rentals- Let's Discuss!

[Alicia Marks]

This Rookie Episode 232 brought lots of creative strategies for creating cashflow. The medium term rental is quickly becoming a solid option for landlords for a number of reasons. @Tony Robinson, @Ashley Kehr, @Zeona McIntyre, and @Sarah Weaver get straight to the ins and outs of managing this asset class.

Are you currently doing medium term rentals? Was it designed that way from the start, or were you forced to pivot? What instigated the change? Feel free to compare and contrast! Did you have any followup questions? Haven't read 30 day Stay? Purchase it HERE (Black Friday special!)

Let's get talking!

[Jon Martin]

Quote from @Nathan Gesner:

Quote from @Alicia Marks:

I'm the "Negative Nelly" that hopes "medium-term rental" dies a horrible death. I see it creating confusion regularly.

Renting anything for more than 30 days is a long-term rental. Furnishing and including utilities doesn't change anything. It's still covered by the same laws, requires the same lease, marketed in the same places, etc. They've been referred to as "executive suites" or "month-to-month rentals" for decades. The only new aspect is that people are creating websites specifically designed for month-to-month renters, but they are just as likely to miss out on all the month-to-month renters looking on the long-term rental sites like Zillow, Apartments.com, Zumper, realtor.com, and dozens of others.

Rant over. Happy Thanksgiving, all! 

Legally they are the same but they serve very different markets and needs. People want/need temporary furnished housing for all kinds of reasons, and they are willing to pay a monthly premium for the flexibility and ease of move in/out. 

Missing out on traditional LTR tenants is the whole point because those tenants usually have their own furniture, TV, wares etc and are looking for the 1+ year lease and do no want to rent your furniture in addition to the home.