Memphis mid-term rentals look like easy money on paper.

[Andrew Glisson]

𝐌𝐞𝐦𝐩𝐡𝐢𝐬 𝐦𝐢𝐝-𝐭𝐞𝐫𝐦 𝐫𝐞𝐧𝐭𝐚𝐥𝐬 𝐥𝐨𝐨𝐤 𝐥𝐢𝐤𝐞 𝐞𝐚𝐬𝐲 𝐦𝐨𝐧𝐞𝐲 𝐨𝐧 𝐩𝐚𝐩𝐞𝐫. 𝐅𝐞𝐰𝐞𝐫 𝐭𝐮𝐫𝐧𝐨𝐯𝐞𝐫𝐬, 𝐥𝐨𝐧𝐠𝐞𝐫 𝐬𝐭𝐚𝐲𝐬, 𝐬𝐭𝐞𝐚𝐝𝐲 𝐜𝐡𝐞𝐜𝐤𝐬. 𝐓𝐡𝐞𝐧 𝐲𝐨𝐮 𝐠𝐞𝐭 𝐲𝐨𝐮𝐫 𝐟𝐢𝐫𝐬𝐭 𝐬𝐜𝐚𝐦 𝐚𝐫𝐭𝐢𝐬𝐭 𝐰𝐡𝐨 𝐰𝐨𝐧'𝐭 𝐥𝐞𝐚𝐯𝐞. I manage STRs in Memphis and the mid-term conversation has exploded over the last year. The demand is real. St. Jude draws families from across the country for treatment stays lasting weeks or months. FedEx, xAI, and the logistics corridor cycle contract workers and relocating employees through town. Insurance companies place displaced homeowners for 30 to 120 days. There is a deep, year-round pool of guests who need furnished housing beyond a weekend. But here is what I have learned operating in this space: mid-term is not easier than short-term. It is harder in different ways, and the downside is worse when it goes wrong. In Tennessee, once a guest crosses 30 days, they are legally a tenant whether you signed a lease or not. That means the eviction process applies. Court filings, waiting periods, attorney fees. You cannot change the locks. You cannot shut off utilities. You wait. We have had to evict mid-term renters who were running scams. People who present well at screening, move in, and then stop paying or refuse to leave. It happens more than the forums suggest. The mid-term space attracts bad actors specifically because operators let their guard down on screening, assuming anyone booking 30 to 60 days must be legitimate. The insurance angle is the other piece nobody talks about. Airbnb's AirCover covers property damage from guests, but it does not cover eviction costs, legal fees, or lost income during proceedings. Go off-platform (Furnished Finder, direct bookings) and you have zero coverage unless you carry dedicated STR insurance with squatter protection. Those policies run $2,000 to $4,000+ per year depending on the property. That is a real cost that needs to be in your pro forma, not an afterthought. What actually works: screen every mid-term applicant the same way you screen a long-term tenant. Credit, background, income verification, rental history. Use a real lease reviewed by an attorney. Collect a security deposit every time. The deposit is both a financial buffer and a screening filter. Legitimate guests pay it without hesitation. The ones who negotiate around it are telling you something. Mid-term in Memphis is a viable strategy, but only if you treat it like landlording with furniture. Not like Airbnb with longer dates. For anyone running mid-term in your market: are you screening at the same level as your long-term tenants, or are you running lighter checks? Curious what is working and what is burning people. -- Andrew, Memphis TN