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Updated 7 months ago,

User Stats

9
Posts
3
Votes
Adam Walker
  • New to Real Estate
  • Durham, NC
3
Votes |
9
Posts

Allowing Someone to use my rental property as a short term / Medium Term Rental

Adam Walker
  • New to Real Estate
  • Durham, NC
Posted

I have a 2/1 800 sq ft, house in Durham, NC. I have been unable to rent it for about 5 months now and I am not seeing the price point I was desiring when I closed on it (around $1700-1800). Currently property management has it listed at $1450 and still struggling to get a renter in even during the summer season. My mortgage on the property is $1773 and it is a brand new construction. 

Today I was approached by someone who is offering me around $1800-1900/month to rent the property from me to run a short term / medium term rental out of it, primarily for traveling nurses or other business people. They would pay all utilities and maintenance on the property and provide 2 months security deposit. 

My question is, is this to good to be true? Should I have concerns or is this a legitimate opportunity? What are the questions I need to be asking? 

Thanks for your help everyone! 

 

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