Mid Term/Monthly Rentals

[Jake Cohen]

I have 5 short term rental units and am working on purchasing a couple more. I am curious with the new restrictions in many cities not allowing short term rentals if anyone is doing monthly (30 day+) rentals in these areas. Has this been successful? How do you line up renters so there’s not long gaps between each rental? Are you finding most of your renters coming from Airbnb? Any other sites that provide good renters? I’m thinking traveling nurses, corporate clients would be a big part of this market. Interested in anyone’s thoughts on this.

Thanks!

[Ethan Cooke]

@Jake Cohen -

 I run a furnished rental business in San Francisco and San Mateo Counties. 95% of my reservations are for 30+ days (including 100% in SF).  This semi-passive business model has worked for me. I’ve found that the most important criteria for a successful mid-term furnished property are:

- large employers nearby—-location, location, location!

- easy parking

- compact place/low price per bedroom and per person 

- decent neighborhood

- pet-friendly

Regarding listing platforms and vacancies between 30+ day bookings, this is an issue in winter but not summer. In addition to AirBnB for 30+ day rentals, I have started getting bookings up to 6 months from Zillow/trulia/Hotpads, where a single listing posts to all 3 websites. 

Good luck!