Short term rental and furnished units - Who does them and how? HELP!

Short term rental and furnished units - Who does them and how? HELP!

Professional · Noblesville, IN · Member since 2014 · 222 posts · 66 votes

I'm not sure which forum this applies to? May post it to a couple to get it right.

I'm considering changing up a leasing strategy to target the short term rental market.

I'm curious if others have experience with this and could offer up advice?

To frame it up a bit, I have around 50 units of 2-4 bedroom units in Indianapolis area...Marion / Hamilton county.

Rents on two year leases range from $500 to $1500 range for the most part. A couple others are high end executive homes.

My initial questions would be?

What premium is available for the shorter terms?

What are the target customers?

What is the best way to target the customers through marketing?

Are there some major employers you could connect with to get to the customers?

Are these customers interested in ONLY premium properties?

What type of properties would the customers want generally?

What other billable services can enhance the arrangement?

Furniture/Maintenace/Cleaning/Moving assistance etc?

Are there some pitfalls to avoid?

Good or bad experiences you could share?

Thanks so much for any info you can share!

George

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  • Realtor · Charlotte, NC · Member since 2014 · 935 posts · 467 votes
    11y

    @Account Closed George , not sure how short of a term you are considering but go on airbnb and check out private property that is renting by the day, week and month. 

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