Updated about 2 years ago on . Most recent reply
Increase Rental Income on a Basic Duplex
Hello all. I have a duplex that recently was renovated and located in a small town, Algood TN. Each unit is 2br 1ba and we had one unit rented at $950/mo on 12 month lease. We are considering strategies to maximize the cashflow from a similar 12 month lease. Mid-term lease sounds valuable but hesitant to use capital and effort to furnish it when we really don't know how well that will perform. What suggestions do you guys have for this?
Most Popular Reply
#4 Medium-Term Rentals Contributor
- Lender
I think Bonnie and Nicole are spot on with their recommendations. In general smaller towns could be a bit riskier for an MTR as a there are not as many employers for temporary workers but sounds like your are has a some solid demand with the University and Hospitals and not too much competition! Would you be able to pivot to an STR if the MTR demand is not there? That may be something to look into before investing in furnishing the place.