Mid Term Rentals in Madison, WI

[Kaylyn Geiger]

Hi all, 

Curious if anyone has experience with mid-term rentals in the Madison area. Well I'm technically in Fitchburg. I know Madison has pretty tough regulations on short term rentals so thinking this may be the way to go. My thought is there may be some adequate appeal here being a college town with some major corporations and hospitals thus, lots of potential with students, professors, corporate staff, nurses, etc. 

I know Fitchburg does not require permitting for rentals over 28 days. Regardless of area, I'm curious if it'd be better to rent 30+ day stays over rental sites like Air Bnb or just have the tenants sign a month-month lease. I've also heard about Furnished Finder and getting connected with local Facebook groups. Are there any other methods you use? Another idea is to get connected with real estate brokerages (my own included) for people who are in transition periods between homes. 

Any feedback is appreciated!

[Michael Leeson]

Hey @Kaylyn Geiger.  So glad to see this question pop up.  I'm in Madison and looking to get an MTR up and running soon.  I haven't had the bandwidth yet to look at the data/demand. But attended the MTR workshop at BPCON and have the new book next up on my list. 

I just finished working through some litigation with the city around a STR violation we got ourselves into. Not fun but it worked out!

My understanding is that Airbnb and Furnished Finder are both great platforms. Connecting with HR and firms moving traveling professionals seems ideal too. 

Mid-term certainly makes numbers on some of the multifamily properties we're seeing come up make more sense!

What are your thoughts on ideal areas or a radius you'd want to stay within?  I'd be interested to hear what you come up with!