Understanding Medium-Term Rentals for Landlords

Renting out your property offers various options, and one increasingly popular choice is medium-term rentals. Unlike the standard 12-month lease, medium-term rentals provide landlords with the opportunity to generate income in a different way.

What is a Medium-Term Rental?

A medium-term rental is one that accommodates a tenant for more than 30 days. Although the duration can range from 30 days to under 12 months, the typical stay falls between two to three months. Medium-term rentals are usually furnished, simplifying the process for tenants who don't need to buy furniture. Despite involving less administrative work than short-term rentals, medium-term rentals require more frequent tenant turnover.

Medium-Term Rental Lease Considerations

When managing a medium-term rental, we suggest collecting a security deposit, similar to long-term rentals, to cover potential property damage or unpaid rent. It's crucial to use a lease agreement tailored to the property's location, adhering to local laws. Key lease considerations include specifying the length of tenancy, outlining rent and additional fees, detailing amenities provided, and clarifying tenant responsibilities.

Who Chooses Medium-Term Rentals?

Various tenants find medium-term rentals attractive due to the convenience and shorter commitment period. This includes students needing temporary housing, travel nurses seeking furnished options near hospitals, remote workers relocating temporarily, and individuals in the process of moving to a new city.

Making Your Medium-Term Rental Stand Out

In a competitive market, a well-furnished rental can make a significant difference. we recommend designing a clean, welcoming unit with thoughtful amenities. Consider tailoring the property to the likely tenant demographic, such as including a suitable workspace for remote workers.

Advantages and Disadvantages of Medium-Term Rentals

Medium-term rentals offer advantages like experienced tenants, reliable income, and growth opportunities. However, they come with the challenge of increased turnover. Although owners with short-term rental experience can use the processes that they use for STR.