Medium-Term Rentals
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback
Updated 28 days ago, 11/14/2024
First time mid term rental.
Hey all
I am looking to rent our home out in the winter Jan - March/April.
Wanted to find out what site ppl think is the best to use for this. Furniture finders was recommended to us.
we are in Delaware beach area. Millsboro.
- Property Manager
- Los Angeles, CA
- 385
- Votes |
- 507
- Posts
Hi Michael, my quick answer would be to list on Airbnb as well. What kind of tenants will your property attract? That will determine the best marketing strategy to get your listing in front of the right eyes.
- Rental Property Investor
- Phoenix, AZ and Rehoboth Beach DE
- 916
- Votes |
- 811
- Posts
I have a vacation rental townhouse in Rehoboth that I tried to rent for the winter months last year on FF. This is a very nice place that brings 15K-20K a month in the summer. I had a few people interested only after I dropped the price down to $2100/month for a 4 Bed/3.5 Bath, utilities included, and I was the cheapest house in the area for that size on FF (we also allow dogs, which many don't). I showed it in person twice, but neither decided to take it. One was a medical professional couple working at Beebe, the other a family relocating and needing a place to stay while their house was built in Lewes. I had another person try to bargain me down to $1700/month, and said she was moving out of her dad's house and so needed room to store boxes in the extra bedrooms. Uh, no. I would rather let it sit empty with no wear and tear than take $1700 a month and pay probably $300/month for heat in the winter. I've found that FF guests are bargain hunters. I decided not to list it on FF again, because I am not local to show it, and it hasn't been worth the effort. But maybe you'll have better luck in Millsboro finding people who need to work temporarily in the area. Look at what else is for rent there on FF, and what they're charging. Keep track of them and see if any of them rent. One thing I didn't like about FF's calendar was that you can't define a time period that you will rent. For instance, you can't block off May through December on your calendar - it will stay open and show as available to guests, and you'll need to explain in your description that you won't be renting it then.
I just had an inquiry on Vrbo for 1.5 months, but they only wanted to pay about $1800, so I said no. I've heard that many people also rent midterm in the area on Airbnb. They have a separate URL for longer stays, so you might try looking on there at your competition. https://www.airbnb.com/stays/monthly One caveat on renting to someone having a house built, it often takes longer than planned, and you have a short definite window to rent (3-4 months). So know that they might need to extend if you rent to them.
New for 2025, just so you know, the state has enacted a short term rental tax of 4.5% on stays of 31 or fewer days. You'll also need to obtain a license ($25) unless you only list on Airbnb or Vrbo, because they will collect and remit this tax for you. FF will not do that, so you'll need the license if you want to rent there for 31 days or less. This goes into effect Jan. 1st, but the state has not figured out the particulars and the license is not available yet. We're still waiting to find out when we can apply and who we apply to, etc. This tax applies to rental contracts entered into on Jan 1 and after. If someone rents before Dec. 31st for next year, even if they only put a partial deposit down now, the tax does not apply to them. Here's a link to the bill: https://beachrentals.penfedrealty.com/sites/default/files/ar...
- Northeast Georgia
- 114
- Votes |
- 91
- Posts
I think one of the challenges of the BP MTR forums is that while all real estate is local, it seems that what is working in the MTR space is hyperlocal. That means, take anything I post with a grain of salt :)
FF for us started off as our bread and butter for lead generation, but as we added more units, we added AirBnB and Vrbo. AirBnB has been a really good source of quality leads. Vrbo has been less productive, and FF remains a staple. All three generate leads from insurance claim residents and traveling professionals (medical and the trades).
One of the advantages of FF has been that it's forced us to have systems in place to create leases, accept security deposits without co-mingling and provide "live" customer service.
We have not been impressed with Padsplit or Roomster even though we are able to accept rent by the room. We listed without success on Kopa, but they've closed shop.
I've heard good things about Zillow rentals but have no personal experience.
If it's only 1 unit, and you are just starting, Airbnb and Furnished Finder would be good.
FF has a very small yearly fee and airbnb will take a commission, but it will also get you used to both. Airbnb will be easier to process the guest--- they just book and pay. Furnished Finder means you will need to have more interaction points to process them and collect payment--- does not mean it's a bad option, but there is less automation involved. Also, don't forget to post in your local FB groups!
Hi there! We use Furnished Finder, and it’s worked great for us. Most of our tenants are traveling nurses since our properties are located near major hospitals in Indianapolis. It’s been a reliable platform, especially for attracting mid-term renters in the medical field. Best of luck with your rental in Delaware!