Creative Ideas for a very short-term Short Term Rental?

Question

We are buying a house on a big lot-- we'll demolish and build 2-4 houses. It will be 6-8 months before we get started, so I need to either get a renter for that time period or do something else creative. It is not too far from the University of Michigan stadium in Ann Arbor, and there is a substantial STR market in town, especially on football weekends. I do have STR experience. This place is 1800 sf, but only has one bathroom, 2-3 bedrooms, and is kind of shabby. It has a big, shady, fairly private lot, though--almost an acre. I'm not sure if it is worth furnishing for that length of time. Any great ideas? Could I attract people with RVs, maybe? Not sure how to even do that.

Trey Burns · Answer

If Jim Harbaugh can sell the fanbase on a potential national championship, surely you can sell them on this :)

But seriously, since you're already demoing it offer it to some frat guys or similar group for the fall semester. Add a couple of the things @Noah Weitzman suggested and sell them on a place to host their friends on gamedays. Make the rent so cheap they can't resist and tell them they can literally destroy it.

My college days were all about saving a dollar and making memories. This would have been right up my alley.

Noah Weitzman · Answer

Hi Sarah, Really cool project, ideas i can think of from running one of our airbnbs in a football town:

• Small wooden fence in the back (cost less then full privacy but will give idea of enclosure, for better price maybe chap plastic fence?)
• Light poles and lights going over the backyard (you can DIY this for around $200)
• Small gravel area (again DIY think $500)
• Outdoor furniture ($300) 
• Cornhole ($50)
• Charcoal grill ($50)
• When posting the listing basically sell the outside and make something in your title football related. As football season is coming up I would at least try to capitalize on that income while your waiting for the remodel.

David Greiner · Answer

@Sarah Lorenz

Hi Sarah. What's the address? I have several STR in Ann Arbor

Account Closed · Answer

Throw some furniture in that thing and list it on Airbnb. The worst that could happen is it doesn't work. The best is you could be making some pretty good returns.

good luck!

David Greiner · Answer

Airbnb it, Football season coming up. Trust me on this one.

Sarah Lorenz · Answer

Thanks for all the input, everyone. It is about 1.5 miles to the stadium, so walking distance but a little past the paid-parking range. I like the idea of adding some things to the yard--lights, game, fire pit/grill. That would be easy and transportable to my next place. I'm actually the queen of thrift store/Craigslist/World Market STR staging, so I could probably throw it together if I get the energy. I've used Homeaway in the past, but I might try AirB&B since it is free, or one of the game rental specialists, like Rent Like a Champion or GameDay Housing.

Nancy Bachety · Answer

@Sarah Lorenz First, make sure you have insurance on it from day 1.

Second, check out Airbnb listing for places in the vicinity and don’t be afraid to message some hosts in the area to ask questions about rates since it’s far off and not on their calendars yet, potentially.

Then, consider how much second hand furnishings would cost for the LR and one or two bedrooms. Buy from the thrift stores. It doesn’t look bad, just dated. The appliance and bathroom look clean and the wood floors look great. You’d be surprised how many visiting teachers or staff need housing M- F and even hospital workers. There’s a market near large universities besides for football games.

Good luck.

John Underwood · Answer

Maybe you could rent furniture short term?

Jake S. · Answer

Hey @Sarah Lorenz About how far from the university are we talking? Walking distance? Maybe could rent out parking spaces for game days? If not, I would definitely check  out with the city to see if you can indeed do the RV idea.I wouldn't bother fixing the current place up at all obviously, but if you think it's rentable, it's definitely something to consider

Creative Ideas for a very short-term Short Term Rental?

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