Medium Term Lease Q's: Security Deposit terms, etc.
Hey BP!
I am listing my townhome as a shorter (medium)-term fully furnished rental (30+ days required but less than 1 year, not Airbnb) and am planning to appeal to travel nurses, interns, and maybe those who just need some temporary furnished housing for a few months.
Question 1: What sort of terms do you require in this situation?
- How much of a security deposit do you require for a 2 month rental, as an example? The monthly rent is $1800, furnished, 30+ days lease.
- Do you have tenants pay for & run a credit check & background check each time? The reason I ask this is ONLY because Airbnb doesn't pull this information on tenants and while my home is not listed on Airbnb, I just want others experience on this. My renters will be people like travel nurses who jump from one rental to the next frequently as they move cities every few months. I essentially am planning to run Credit Check and Background Check each time - unless I hear otherwise from a majority that this could be an issue for this type of tenant. What do you do?
Question 2: For those who do medium-term rentals, what amenities have you provided tenants?
I know I need to provide the basics: dishware, cooking utensils, pots/pans.
- Do you provide more things like a hair dryer?
- What quality of items have turned out best for sheets, blankets, dishware, furniture, etc.?
Question 3: Anything novel you've come across during your experience with short/medium term rentals that would benefit someone who's never done it before? Anything else I should know?
Thank you!
Joe