Mid term rentals in Worcester

[Craig Lang]

Hey BP community!  Looking at RE in Worcester Mass. SMF properties are a tad bit over budget so trying to change strategies. Has anyone had luck with medium term rentals for traveling nurses and professionals? 

Thank you! 

[Wendell Butler]

Hey Craig! Midterm rentals are a great way to get extra cashflow. Usually you can get an extra $400-$500 from them. You do have to furnish the unit and include utilities in their rent though. Think of it like a long term rental and short term rental had a baby. The good thing about mid term rentals is that you know the travel nurses/professionals contracts (3-9 months or so). Knowing their move in and move out dates in advance, you can time the vacancies and keep the units filled nicely. 

Check out the site furnishedfinder.com. That is where you can market to these individuals and also see the stats for average midterm rents of the area. Worcester has a few large hospitals like Saint Vincent's, UMass and others so it is a great niche to get into!