Skip to content
×
Try PRO Free Today!
BiggerPockets Pro offers you a comprehensive suite of tools and resources
Market and Deal Finder Tools
Deal Analysis Calculators
Property Management Software
Exclusive discounts to Home Depot, RentRedi, and more
$0
7 days free
$828/yr or $69/mo when billed monthly.
$390/yr or $32.5/mo when billed annually.
7 days free. Cancel anytime.
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
House Hacking
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated over 1 year ago on . Most recent reply

User Stats

15
Posts
10
Votes
Patty Nisbet
  • Denver
10
Votes |
15
Posts

Mid term renting question

Patty Nisbet
  • Denver
Posted

We bought a house in March with the intentions to rent our basment for Short term. We did and it was decent! November and December took a nose dive. We get most bookings on Airbnb. Not many at all on VRBO. Anyway I am thinking to try mid term to traveling nurses for a bit as we are 5 mins away from University and Childrens. 

I don't know why but having mid term scares me a bit. What if we choose the wrong person and they don't take care of it? Also, I gave no idea on how to charge! 

The basement has 2 bedrooms. one with a queen size bed and the other with two twin beds. It has a small kitchen with no stove. I have a ninja foodie with 20 plus cook settings, a toaster oven and microwave. I can get a electruc burner too. There just isn't ventalation that cooking may not be the best. I saw lityle ventalation fans I could look into. 

The other thing is the laundry room is down there and it is our storage. Can we negotiate laundry time?  We can't move laundry upstairs. 

So questions 

1. what ways can we verify this person or two? 

2. Do you think they would rent with cooking gadgets and no stove? 

3. How do I create a lease? I hear they are expensive? 

4. How do I figure out a good rental price? Is there a site I can do a background check? I have a child so want to be safe. What references do I ask for?

5. is the paper work different with the county and home insurance for midterm than short term? 

I know a ton of questions! I hope someone can help! 

Most Popular Reply

User Stats

1,263
Posts
935
Votes
Conner Olsen
  • Real Estate Agent
  • Austin, TX
935
Votes |
1,263
Posts
Conner Olsen
  • Real Estate Agent
  • Austin, TX
Replied
Quote from @Patty Nisbet:

We bought a house in March with the intentions to rent our basment for Short term. We did and it was decent! November and December took a nose dive. We get most bookings on Airbnb. Not many at all on VRBO. Anyway I am thinking to try mid term to traveling nurses for a bit as we are 5 mins away from University and Childrens. 

I don't know why but having mid term scares me a bit. What if we choose the wrong person and they don't take care of it? Also, I gave no idea on how to charge! 

The basement has 2 bedrooms. one with a queen size bed and the other with two twin beds. It has a small kitchen with no stove. I have a ninja foodie with 20 plus cook settings, a toaster oven and microwave. I can get a electruc burner too. There just isn't ventalation that cooking may not be the best. I saw lityle ventalation fans I could look into. 

The other thing is the laundry room is down there and it is our storage. Can we negotiate laundry time?  We can't move laundry upstairs. 

So questions 

1. what ways can we verify this person or two? 

2. Do you think they would rent with cooking gadgets and no stove? 

3. How do I create a lease? I hear they are expensive? 

4. How do I figure out a good rental price? Is there a site I can do a background check? I have a child so want to be safe. What references do I ask for?

5. is the paper work different with the county and home insurance for midterm than short term? 

I know a ton of questions! I hope someone can help! 


 Just keep it on Airbnb and VRBO and change minimum nights to 30. 99% of my MTR guests are on Airbnb.

  • Conner Olsen
  • [email protected]
  • 702-521-0034
  • Loading replies...