Medium-Term Rental Vs. Long Term Rental for a 2 bed/2 bath single family home.

[David Rodriguez]

I purchased a 2 bed, 2 bath home roughly 8-10 minutes from Downtown Phoenix. It was built in 2002, and I renovated the entire flooring by removing the original tile and putting Vinyl flooring in, there is no carpet within the house. I redid the master bathroom by removing the tub and putting in a standing shower with white granite looking tile, and a custom glass shower door. Replaced both toilets with brand new ones, replaced the 2 car- garage door with a brand new one, had all the walls freshly painted, put brand new baseboards in, and had the kitchen cabinets painted as well. The house is also furnished with a solid wood no spring couch, and a solid wood round dining table, and a king sized bedroom set in the master. My question is:

Is this house better off being rented long term for tenants or should I gravitate toward a midterm rental for possible traveling nurses or traveling professionals who want a cleaner, more up to date space, closer to downtown? I am thinking since it is only a 2 bedroom this may be a better choice versus trying to find a smaller family to rent it out too. Does anybody have any good experience with mid term rentals in phoenix? 

[Colleen F.]

@David Rodriguez  MTR is about location for health travelers and you also have a healthy  population of snowbirds in Phoenix.  The finishes sound fine but for health travelers you have to furnish down to the sheets and towels.  It has to be a good area and for night shift workers a quiet location.  If you have two full baths it will appeal more to this group.

The downside in Phoenix to a MTR is I am not sure you would get summer occupancy if you aren't the top location. Consider that in your initial plan. You can switch strategies later. You might look at vacancies on FF close to your location to get a feel for what the market is. Again consider the summer if you have MTR. I think pools also factor in to summer rentals, if you don't have one that will hurt you.