Property manager for medium term rentals

Louisville, Kentucky
Medium-Term Rentals
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Property manager for medium term rentals

Boffill YosleysPro Member
Member since 2022 · 29 posts · 9 votes

Hello folks ! I have a nicely remodeled house in the Highlands , Louisville Kentucky already furnished that I am looking to rent as a mid term rental. Any contact will be highly appreciated.Thanks.

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Nathan GesnerBusiness Member
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Real Estate Broker · Cody, WY · Member since 2010 · 28k+ posts · 41k+ votes
2y
Quote from @Boffill Yosleys:

Hello folks ! I have a nicely remodeled house in the Highlands , Louisville Kentucky already furnished that I am looking to rent as a mid term rental. Any contact will be highly appreciated.Thanks.


Two things:

1. Anything rented longer than 30 days is legally a long-term rental. You should follow the law and best practices of long-term rentals, not short-term rentals.

2. It's hard to find a quality PM willing to take on MTR. The increased turnover requires increased work and the PM is going to charge accordingly.

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  • Nathan GesnerBusiness Member
    Moderator
    Real Estate Broker · Cody, WY · Member since 2010 · 28k+ posts · 41k+ votes
    2y
    Quote from @Boffill Yosleys:

    Hello folks ! I have a nicely remodeled house in the Highlands , Louisville Kentucky already furnished that I am looking to rent as a mid term rental. Any contact will be highly appreciated.Thanks.


    Two things:

    1. Anything rented longer than 30 days is legally a long-term rental. You should follow the law and best practices of long-term rentals, not short-term rentals.

    2. It's hard to find a quality PM willing to take on MTR. The increased turnover requires increased work and the PM is going to charge accordingly.

    The DIY Landlord Book4.7243 Reviews
    WebsiteView Page
    1Reply
  • Andrew BoscoBusiness Member
    Rental Property Investor · NH · Member since 2023 · 446 posts · 421 votes
    2y

    As Nathan said, for an MTR - expect their rate to be 12-20%. just be mindful of such!

    [email protected]603-833-0951
    Andrew Bosco - Candor Investment Group532 Reviews
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  • Zachary DealPro Member
    Lender · Member since 2023 · 465 posts · 425 votes
    2y

    Local REI meetups tend to be a good option to find good PMs (especially high touch MTR PM). You can also try posting on the classified section of BiggerPockets

    [email protected]
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  • Erin Spradlin
    Real Estate Consultant · Colorado Springs, CO · Member since 2017 · 354 posts · 386 votes
    2y

    @Boffill Yosleys Yeah, the typical property management experience does not work for midterm rentals. It's hard for the PM to make their costs if they can't charge half the first month's rent, and charging half of the first month's rent won't work for the tenant landlord if each rental is only 3 months long. For this reason, I coach a lot of my midterm rental consulting clients to learn how to do Airbnb and Zillow and embrace self-property management. You can always get a PM after that if you are not successful doing it on your own. 

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  • Ronald L. Covington II
    Shelbyville, Louisville area · Member since 2018 · 5 posts · 1 vote
    2y

    Hello @Boffill Yosleys! How is your experience with the mid-term rental? I'm looking to use that model for my rental.  Any advice, best practices, pros/cons you'd be willing to share? I'd love to hear your input. Hope to hear from you soon!

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  • Jeremy Jareckyj
    Real Estate Agent · Salt Lake City, UT · Member since 2020 · 490 posts · 205 votes
    2y
    Quote from @Boffill Yosleys:

    Hello folks ! I have a nicely remodeled house in the Highlands , Louisville Kentucky already furnished that I am looking to rent as a mid term rental. Any contact will be highly appreciated.Thanks.


     A local Facebook page with real estate investors might be your best bet for receommendations

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  • Allen DuanPro Member
    Property Manager · Los Angeles, CA · Member since 2022 · 590 posts · 463 votes
    2y

    I'll check my network for any MTR property managers or co hosts in Louisville. I own a MTR management company in Los Angeles and can attest to what others have said here. Most managers in this space focus on STRs and don't know how to market for MTR bookings.

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