Is Mid term rental possible in NYC?

[Andrew Dao]

Hello,

I am new to the REI and was wondering if was possible to do a Mid term rental in NYC?

As of right now, I am grateful to own a two family home in Astoria and our tenant is planning on moving out this year. 

Has anyone here had any success with this strategy in NYC? If so, I would love to hear your stories!

Best,

Andrew

[Ecaterina Katerina Morosan]

Hi Andrew, furnished mid-term rentals perform well in Manhattan in Brooklyn. I'm not dure about Queens, haven't looked into it. Astoria is a pretty desirable area, so might work as well. But as far as I know, mid-term rentals are mostly popular among tenants who needs to be in NYC seasonally or need to rent for 3-6 months before they decide on the property purchase and areas they want to focus on. In general, furnished mid-term rentals in NYC are priced at at least 20% premium.