What kind of property manager do you use for medium term rentals

Question

Hi,

I've been thinking of doing a medium term rental with a small multi-family property in San Jose, CA. I've started researching property managers and there are tons for long term rentals. They charge a monthly percentage as well as a fee for placing the tenant. Since tenants change every 90 days, it seems like that cost will start to get out of hand very quickly. Short term property managers don't charge for tenant screening other than I think a cursory review of the person behind the scenes in the apps, but they charge 25-30%. That also seems excessive considering the people aren't turning over constantly. So, what do people use for medium term rentals?

Emily Wilson · Answer

I would definitely self-manage if I was staying in the area, but we plan on going overseas. Do you have suggestions for how to self-manage long distance?

Zeona McIntyre · Answer

Beware! Medium term and long term are a completely different animal and should not be managed by the same type of property manager. They are more closely related to short term rentals and yet some short term managers don’t know how to manage them either. I know two really good MTR property managers. Reach out and I’ll get you connected.

Yogesh Bhadane · Answer

@Emily Wilson

There are property managers who charge 7% PM fees here in CA with no charge to place a tenant, whether long term or midterm.

Just look for them.

Mike Dymski · Answer

You're trying to fit a square peg into a round hole. Medium term is a self-management business model.

Eliott Elias · Answer

Would use a airbnb property manager. You're still going to have turnover, cleaners, and bookings.

Nathan Gesner · Answer

The same as a long-term rental. Somebody made up a name, people latched onto it, and it's creating confusion.

The law doesn't treat them any differently than long-term rentals (anything over 30 days). You can advertise them the same, manage them the same, use the same software, the same lease, the same eviction process, the same rental laws, etc.

What kind of property manager do you use for medium term rentals

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