Mid-term rentals (where to start)

[Brady Ascheman]

Hi everyone,

I have recently found it very difficult to find any long-term rentals that will cashflow. I have been looking into trying mid-term rentals due to the increase in rent that you can charge, but I don't know where to start. Was looking to connect with anyone that is already doing mid-term rentals so I could pick there brain on the topic. Thanks!

[Lori A Vellucci]

My daughter and I have an MTR.  Fully furnished, utilities included, close to hospitals and colleges.  We rent through FurnishedFinder and that has worked great. One strategy we employ is to give preference to those who are from out of the area and here for a set period of time (and then presumably leaving back to where they are from). In that way, they appreciate everything being turnkey, with no need to buy linens, kitchen ware, and furniture nor set up utilities. Also, we can be relatively sure that they won't overstay without permission, as we tend to be fully rented for a year or more out, sequentially to 3-4 separate individuals. Lately, we've had a great deal of luck with one particular university referring us to visiting professors who are often from overseas and in to teach for a semester. It's worked great and we have had success with the strategy. I should also mention that this property is a microloft (<300 sq ft) so fits just a single individual. We are priced right and we clear about $1000 a month after expenses.