New to mid and long term furnished rentals

New to mid and long term furnished rentals

Investor · UT · Member since 2014 · 11 posts · 2 votes

I'm just getting started renting my home. Planning on trying out furnished finder and may try others if furnished finder doesn't pan out. I have a fully furnished 4 bedroom home about 2,800 sqft in Midvale, Utah. I will start renting in mid-April 2024. I have tried the year-long rentals and have had a couple of problems with tenants not paying and having to evict. I'm going to try the 30+ day mid-term rentals and see how that works out. I'd love to hear your opinions on good ways to find tenants that are reliable in the 30 plus day rental time period.  Zillow says I can get $2900 on a standard 1 year unfurnished lease.  Hoping for around $4000 doing fully furnished monthly mid term rentals.

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Lender · AZ · Member since 2022 · 148 posts · 95 votes
2y

You’re going to benefit from also listing on other platforms like Airbnb and vrbo and setting the minimum night stay to 30 days or more.


Good luck!

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  • Lender · AZ · Member since 2022 · 148 posts · 95 votes
    2y

    You’re going to benefit from also listing on other platforms like Airbnb and vrbo and setting the minimum night stay to 30 days or more.


    Good luck!

  • Investor · UT · Member since 2014 · 11 posts · 2 votes
    2y
    Quote from @Carl Davis:

    You’re going to benefit from also listing on other platforms like Airbnb and vrbo and setting the minimum night stay to 30 days or more.


    Good luck!

    How do I keep the multiple platforms from booking over top of each other?
  • Lender · AZ · Member since 2022 · 148 posts · 95 votes
    2y

    The calendars will link together with most listing platforms. It doesn’t do it automatically but it’s a very common thing.

  • Real Estate Agent · Colorado | stan.store/JamesCarlson · Member since 2014 · 2k+ posts · 2k+ votes
    2y

    @Curtis Harrison

    Like @Carl Davis said, I'd get on Airbnb and Zillow as well. I know all our medium term rentals in Denver and Colorado Springs have Airbnb tenants, and that's been the case for awhile.

    I also know @Erin Spradlin's midterm consulting clients are seeing problems getting tenants through Furnished Finder. 

  • Real Estate Consultant · Colorado Springs, CO · Member since 2017 · 354 posts · 386 votes
    2y
    Quote from @Carl Davis:

    You’re going to benefit from also listing on other platforms like Airbnb and vrbo and setting the minimum night stay to 30 days or more.


    Good luck!

     @Carl Davis 100% this! I'd start with Airbnb. A lot of my consulting clients are not having much luck getting their midterm rental rented on Furnished Finder. As a note: 7 out of 10 of our past midterm rentals have been sourced off of Airbnb. 

  • Real Estate Consultant · Colorado Springs, CO · Member since 2017 · 354 posts · 386 votes
    2y
    Quote from @Curtis Harrison:
    Quote from @Carl Davis:

    You’re going to benefit from also listing on other platforms like Airbnb and vrbo and setting the minimum night stay to 30 days or more.


    Good luck!

    How do I keep the multiple platforms from booking over top of each other?

     @Curtis Harrison - It's pretty easy to manage calendaring in the midterm rental space because you have ample heads up, at least 30+ days, but often more like 2 months, 3 months, etc. Unless you have 10 properties going at once, you can manually update these without much issue. (This is how we have done it since 2017.) 

  • Real Estate Consultant · Colorado Springs, CO · Member since 2017 · 354 posts · 386 votes
    2y
    Quote from @James Carlson:

    @Curtis Harrison

    Like @Carl Davis said, I'd get on Airbnb and Zillow as well. I know all our medium term rentals in Denver and Colorado Springs have Airbnb tenants, and that's been the case for awhile.

    I also know @Erin Spradlin's midterm consulting clients are seeing problems getting tenants through Furnished Finder. 

     Thank you for the mention, @James Carlson. And, couldn't agree more. We are having a lot more success finding midterm rental clients on Airbnb and Zillow, including nurses. 5 out of our past 7 rentals on Airbnb have been nurses. 

  • Real Estate Agent · Salt Lake City, UT · Member since 2020 · 490 posts · 205 votes
    2y
    Quote from @Curtis Harrison:
    Quote from @Carl Davis:

    You’re going to benefit from also listing on other platforms like Airbnb and vrbo and setting the minimum night stay to 30 days or more.


    Good luck!

    How do I keep the multiple platforms from booking over top of each other?

     You can also use what is called a channel manager, such as IGMS, that connects all your calendars on multiple platforms.

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