Medium rental wave question nj

[Dennis Rogov]

Hi all

I have missed the initial rental wave for short term  rentals (I was on a sideline) and to lost to pull trigger. I am starting to hear medium term rental wave I am in a much better position and mindset to get involved.

I live in south Jersey 30 mins from Philadelphia..Our area has large hospitals and an international airport.

I got 3 questions

1.who is local in south Jersey that is using medium term rental 

2. With Jersey being one of the most restricted real estate states laws how do I research medium term rentals

3. How do I underwrite /analyze a medium term rental potential cash flow 

What other questions should I be asking that I didn’t ask…for someone who is brand new to medium term rentals niche.

[Zeona McIntyre]

Hi I am not local to jersey but am one of the authors of BP's new book on medium-term rentals and happy to help! 

Medium-term rental laws will be the same as long term in most cases. I would look on your city's website for rental licenses and see what comes up. You may need an inspection or license. 

To analyze, I suggest doing it like a long term rental: 8% vacancy, 10% maintenance / cap ex, management (although I recommend self managing), and then including utilities and snow removal/lawn work if applicable. I suggest looking on Furnished Finder for rental comps. 

I'd suggest researching with trauma level the hospitals are there. You are looking for 1 & 2, higher numbers don't get enough travel staff. You also want to see more than 150 beds to expect many tenants.