Two Kinds of Medium Term Rentals

[Don Konipol]

I believe there is significant distinction between two types of medium term rentals.  On one end there is the kind that’s a slightly longer extension of short term rentals - vacationers, travelers for pleasure, and business travelers staying one month or so and wanting something larger and more residential than a motel/hotel.  On the other end of the spectrum are the people staying 3 - 6 months; contract workers, people new to the area not quite ready to purchase a house or sign a long lease, and people whose current home is uninhabitable for some reason needing temporary quarters.  Different clients, different needs, different marketing.  The similarities between the two  are more driven by politics/law than free market economics.  In most jurisdictions rentals of 30days or more aren’t regulated the way rentals of less than 30 days are.  Further, 30 days or more means tenant “rights” , so a written lease is required to ensure landlords have some rights.  So, we are lumping two different rental markets together and calling it medium term rentals.  Which is fine, bit the landlord needs to define exactly which market he’s after.  If it’s both he needs to be prepared for 2 different requests, expectations, and 2 different marketing channels