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Medium-Term Rentals

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Brandon Spurlock
  • Realtor
  • Richmond, VA
111
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112
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Airbnb vs. Furnished Finder

Brandon Spurlock
  • Realtor
  • Richmond, VA
Posted Jan 10 2023, 14:50

I'm a realtor/investor from Richmond, VA. Looking for some mid-term rental thoughts. Quick background: I currently rent 3 doors long-term. This would be my first crack at a mid-term rental.

I've got a property that I'd like to rent mid-term (30-90 days) to increase cash flow compared to a 12-month rental. Furnished Finder charges $99/year to advertise the property, and the landlord handles the rest (screening tenants, lease, rent collection, etc.). I'd likely use apartments.com to handle those details, as I do with my 12-month rentals. I'd assume the tenant base is mainly nurses and professionals.

The other option is to do a 30-day minimum on Airbnb, who collects a 3% fee, but handles the rest. A downfall of this process is the lack of tenant screening (background, credit, eviction checks) as far as I'm aware of. Feels like slightly more risk not being able to screen tenants outside of their personal Airbnb ratings/reviews.

Lastly, I could also market this by word-of-mouth to other realtors in the area and in my firm, as clients are always needing mid-term stays in between buying and selling their home. 

What else am I missing that may be a pro/con to FF vs. Airbnb? Are there other options that I'm not thinking of? Thanks!

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