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Updated about 10 years ago on . Most recent reply

User Stats

125
Posts
37
Votes
Erin K.
  • Professional
  • Loudonville, OH
37
Votes |
125
Posts

Interesting rental niche

Erin K.
  • Professional
  • Loudonville, OH
Posted

We have operated a VRBO home here in our little touristy area for about 7 years. Decided with all we have going on with work, other rentals, etc. to close the VRBO this month and turn it into a regular residential SFR. It is fully furnished and I didn't really want to take time to sell everything right now, so threw out a listing on Craigslist for a fully-furnished home for rent figuring it was a long shot. 2 weeks later, got an email from a family that just had a house fire and need to rent somewhere for 6-12 months while they rebuild. Insurance company is paying me directly for the rent, and paying over twice the going monthly rate for what this house would normally rent for in this area. From the ins co's standpoint, they would have to pay for rental of a house full of furnishings (tv's, beds, couches, etc.) if this family went into a typical, non-furnished home, so it is a good deal for them, too. It turns out that there are companies out there that just work for ins co's helping find transitional housing in these situations. Their websites have a place for landlords to register. We live in such a small town that this wouldn't be a regular niche for us, but I can see how for more populated areas, this might be a great fit for some landlords. Just thought I would throw it out there in case this might be something that would be a good fit for some of you, but something you maybe haven't heard of before. Hope this is helpful for someone on here, as I really appreciate all the info I have gathered in my lurking here for a long time!

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