Mid term, keep short term or long term

[Erika Martinez]

Hi everyone!
We’ve been renting our fully furnished 4-bedroom, 2-bath home as a short-term rental near Park Hill—close to hospitals—but it hasn’t been as profitable as we hoped.

We’re now exploring other options. We were planning to switch to a long-term rental, but someone recently suggested trying midterm rentals since the house is already furnished.

Before making a final decision, I’d love honest insight from anyone with midterm experience in Denver:

• Is midterm actually a good choice right now for this area?
• What’s a realistic monthly income we could expect for a 4BR in 2 bedroom this location?
• Which platforms or companies offer the best commission rates for furnished midterm rentals in Denver?

I’d really appreciate any advice or numbers from folks who've done this. Thank you!

[James Carlson]

@Erika Martinez

To your actual questions about mid-term rentals in Denver ...

The MTR market has seen a similar compression of revenues as the STR market saw the last few years. More supply of medium-term rentals meant lower rents for everyone. That said, just like with the competitive short-term rental market right now, there is always demand for a place with style and amenities in a good location.

You've got a good location, but I guess I'd worry that whatever was preventing your STR from thriving would likewise hinder your MTR.

We have an MTR condo in Denver and two 4br MTR homes in Colorado Springs. All are rented, but we also bought them all several years ago when prices and rates were lower, so MTR revenues are doing us just fine.

At the end of the day, even if you're not crushing it with cash flow, whatever you can do to cover your expenses while you hold on to the asset (the home) so that it can appreciate in value is what you have to do. Good luck!