Mid-term lease agreements?

[C.Y. Li]

Hi all,

I'm trying to explore mid-term rentals and would like to know how the lease differs from normal long-term rental leases. I would imagine there's an addendum for furniture damages since it would be furnished. Would love if anyone can give me a run down of the differences. Thanks in advance.

[Kelly Bailey]

Hi C.Y., Kelly Bailey here. I operate 8 medium term (midterm) rentals on Furnished Finder and Airbnb for about 5 years now with over 95% occupancy. For leases, the main difference is flexible lease terms which for us is just a 30 day notice. Guests extend often and occasionally need to leave early based off job assignments. Average stay is 90 days. Communicate the terms & fees clearly in the lease. We put a 4pm checkin and 10am checkout, add addendums that are important for each house such as how to clean a glass top stove or take care of counter tops, septic, etc. Our deposit is 1/2 to 1/3 month's rent so that is $1,000 for our 3 bedroom homes and $500 for our smaller homes. We have never had damage or missing items that exceed those values and have given back the full deposit 99% of the time. Hope that helps! Furnished Finder has great tools for medium term rentals- tenant screening, leases w/ e-signing and rent payments all built for midterm rental operators.