Mid Term Rental

[Jordan King]

One of my mid term rentals in Upstate New York is going through a little slower period renting out this winter.

This property is currently listed on airbnb.com and furnishedfinder.com

Does anyone have any creative ideas that they use to rent their mid term rentals out? Any ideas help. Thanks

[Jacob St. Martin]

There are often Facebook groups for mid term rentals in certain areas, try looking for one of those and marketing there. 

Also, I think the best way to stand out as a MTR or STR host is to offer amenities that other places don't have. For instance, if you buy a cheap hot tub it will probably pay for itself if you get one or two bookings that you wouldn't have gotten otherwise and it will lead guests to choose your place even if they are not really going to use it

[Travis Timmons]

Zillow, apartments.com, outreach to local companies that common sense suggests would have project based 1-3 month employees. It's a tough time of year to lease. We have a mid term tenant moving out Friday and are looking at about a month of vacancy before our next tenant moves in. It's to be expected. We have also had, historically, a 5%-ish difference in rent rates when renting out in December and January as opposed to other months. There's a fair chance that you are going to have to lower your rent beyond your normal rate or expectations. 

[Melissa Nash]

I have had good luck with Zillow, also there are insurance companies that love mid term for homes that have moved owners out for insurance claims. I have had a few reach out to me on that. 

[Jordan King]

Quote from @Jacob St. Martin:

There are often Facebook groups for mid term rentals in certain areas, try looking for one of those and marketing there. 

Also, I think the best way to stand out as a MTR or STR host is to offer amenities that other places don't have. For instance, if you buy a cheap hot tub it will probably pay for itself if you get one or two bookings that you wouldn't have gotten otherwise and it will lead guests to choose your place even if they are not really going to use it

 Awesome, thank you for the help.  

[Jordan King]

Quote from @Melissa Nash:

I have had good luck with Zillow, also there are insurance companies that love mid term for homes that have moved owners out for insurance claims. I have had a few reach out to me on that. 

 Thank you Melissa. I have been trying to list with temporary housing agencies for insurance companies. I just haven't received any luck yet. 

[Bonnie Low]

Can you describe your property or add a link to your listing? There's no one size fits all when it comes to midterms. You're covering the obvious listing sources: Airbnb and FF. Where you go from there really depends on what the property lends itself to. What works for travel medical professionals is different than what corporate renters are looking for, which is different than insurance placements, etc. etc. 

[Jordan King]

Quote from @Travis Timmons:

Zillow, apartments.com, outreach to local companies that common sense suggests would have project based 1-3 month employees. It's a tough time of year to lease. We have a mid term tenant moving out Friday and are looking at about a month of vacancy before our next tenant moves in. It's to be expected. We have also had, historically, a 5%-ish difference in rent rates when renting out in December and January as opposed to other months. There's a fair chance that you are going to have to lower your rent beyond your normal rate or expectations. 

 Thank you Travis!

[Jamie Banks]

Make sure you list the property on insurance relocation company sites like ALE Solutions. I would also list on Zillow. 

[Zachary Deal]

Agree with Jacob that Facebook could be a great option. Would post in as many local or national groups (for you target clientele as possible). Depending on the area I know people have success on craigslist as well but can be hit or miss

[Colleen F.]

@Jordan King you can do facebook market place but they don't always read the ad and the quality of renter may need a bit more screening before you show the place. It is especially important to go over terms and I like having a video so you can do that and a screening call before showing the place. You are going to get alot more people interested in long term. 

[Mindy Nicol]

Hi Jordan,

I have had good luck on Furnished Finder and also have a Zillow listing.  You can also reach out to people coming to the area on FF and see when they want to come to the area and their budget.  The site is great and you can reach out directly, but you probably know this :).   Are there any big employers up there?  Maybe give them a call and see if they have needs? Photos and pricing are the keys I think to get interested people. 

Mindy

[Can Karakas]

Hi;

I recently moved to a different apartment than the one I was renting in Boston. Since my lease was still valid, I spoke to the landlord and she gave me permission to rent the apartment on airbnb. I contacted the city to apply for a STR license, but was told that I could not list the apartment as str if I was not the landlord. So I gave up and applied to MTR and found a tenant who wants to rent the apartment for 12 months from furnishedfinder. However, I applied to Furnishedfinder in person and listed the apartment as a sublease. I want to set up an LLC to sign an agreement with the future tenant. And I will make my new contract with the LLC. Do you think this is a good way? (because the amount I rent is higher than my rent and I will make a profit. Also, I don't want to do anything illegal, I want to run the business professionally. Besides that, does anyone know how I can get a STR license in boston without being a landlord? Would it help if I apply with LLC and clearly commercialize this arbitrage operation?

Thanks

[Trevor Naumann]

facebook market place is always a solid choice. I have never personally rented or bought anything through facebook but im always shocked at how much traction i get there. 

[Joey Banasihan]

Hey @Jordan King! I would second Bonnie, If we could look at the listing via link we can provide some more productive and effective feedback. I think that platforms, groups, etc. are only a small factor to vacacnies and slow periods.  Would be able to help and provide thoughts if you send over the link to your listing.  I hope the slow period does not last for long!

[Pat Dansdill]

Quote from @Melissa Nash:

I have had good luck with Zillow, also there are insurance companies that love mid term for homes that have moved owners out for insurance claims. I have had a few reach out to me on that. 

Which companies would you recommend reaching out to?

[Zachary Deal]

@Pat Dansdill ALE Solutions is one of the more popular sites for insurance placements.

[Kristine Ann]

Not sure about the "Upstate NY" forum tag.  It's very non-specific.  What region of NY state are you in and who are your usual customers?