New Mid-Term rental unit advise
Tim BergstromPro Member
Investor · Nashville, TN · Member since 2016 · 127 posts · 71 votesHey BP,
I've been renting a unit as a STR for 8 years, but just also added Mid-Term rentals to my options with it. I have it listed on Furnished Finder, but when I got on there I thought FF would be a lot more like Airbnb in the sense that they would handle all the payments/legal stuff. I got credit card payments set up through their sister company, so I'm good there. So I'm just putting together my lease agreements and trying to get things set up to make as few set up errors as possible. Haha.
What tips and pointers do any MTR operators have for Nashville? Does anyone have a good Mid-Term rental adapted lease agreement they use? What is a good metric for a security deposit? I've seen numbers thrown around like 25-33% of the total lease amount. I'm considering a flat security deposit of $500 since I'm looking to rent my space for between $1100-1400/month. I'm assuming y'all pro-rate your lease if it's an unusual length of time like 6, 7, or 10 weeks etc?
Open to any tips/advise! Thanks in advance!
@Tim Bergstrom
Hi Tim, it’s not like Airbnb or VRBO. This only a connection site and then you contact the individual back. You will receive booking request, housing request and if you choose to unmatched housing request. Potential guest can message you direct as well.
As far as payments, screenings, leases, etc., there are tools available on the site. There is also a fee for those.
They do not pay any taxes on your behalf.
If you have not already done so you should go on the FF site and do a search for your area, you will then see what your competition is charging and how there places are furnished. That part is similar to Airbnb and VRBO.
Reach out if you have questions.
@Tim Bergstrom
Hi Tim, it’s not like Airbnb or VRBO. This only a connection site and then you contact the individual back. You will receive booking request, housing request and if you choose to unmatched housing request. Potential guest can message you direct as well.
As far as payments, screenings, leases, etc., there are tools available on the site. There is also a fee for those.
They do not pay any taxes on your behalf.
If you have not already done so you should go on the FF site and do a search for your area, you will then see what your competition is charging and how there places are furnished. That part is similar to Airbnb and VRBO.
Reach out if you have questions.
Hi Tim. I have MTR rentals in Knoxville. Over the past 6 years, I've experienced around 85% medical travelers. Great tenants! I keep my deposit at about 25-30% of rent for refundable security deposit. Then an additional 25% refundable pet deposit, if a pet. Which about 60% do. FF is just a lead generator, no other fluff to it. I fo get almost 100% of my tenants from there. I put work into it by contacting the "Unmatched " leads as well. I usually book my next stay, 30 days out of the current one ending. I require my current to tell me at 45 days of expiration, if they plan to extend or not. I use Baselane for all my rent collection & bookkeeping. They also have add on options for lease generation/signing, background checks & such. I got my lease off of BP & modified a tad to fit my MTR needs. Happy to answer any questions & share any of my many lists such as stocking & cleaning lists for my cleaner. Good luck. Cass
@Kenneth Garrett Thanks for the feedback!
@Cassy Trask Thanks so much! Definitely the kind of feedback I was looking for. I'll have to look into Baselane.
@Andrew Street Thank you! This is great feedback and things to think about. Similar to STRs and definitely have some of that in place, but good to think about. I'll DM you about that lease you use. And to answer your question, I'm adding MTR since I've seen a drop in my numbers with AirBnb and VRBO. Seems like a necessary pivot at this point.
Hey! Love that you're adding MTRs into the mix, that hybrid STR/MTR approach has been working really well for a lot of operators lately, especially in markets like Nashville.
On the lease side, you’re right — Furnished Finder is more of a lead-gen platform than a full-service manager like Airbnb, so having your own solid agreement is key. A few things that have helped me and other hosts I work with:
Security deposit:
Most MTR operators I see land between 25–50% of one month’s rent rather than a percentage of the full lease. For your $1,100–$1,400 range, a $500 flat deposit is pretty reasonable and tends to feel less intimidating for traveling professionals, while still giving you some coverage.
Lease structure:
Definitely pro-rate for odd lengths (6–10 weeks is super common with nurses and corporate stays). I usually spell it out as a monthly rate + a daily rate in the lease to keep it clean and transparent.
What to include in your MTR lease:
Utility caps (huge one — protects you from crazy electric bills)
Cleaning expectations at move-out (and optional mid-stay cleanings)
Clear no-subletting / no-party clause
Maintenance access language (24–48 hour notice, emergency access, etc.)
Nashville-specific tip:
You’ll get a mix of travel nurses, relocations, and corporate interns. If you haven’t already, try listing in a couple of local hospital housing groups or corporate relocation boards — they can sometimes outperform FF for longer stays.
If you want, I’m happy to share a simple MTR lease template I’ve seen owners use as a starting point. Always tweak with a local attorney, of course, but it can save a ton of setup time.
Curious — are you aiming to lean more MTR long-term, or keep it as a gap-filler between STR bookings?
Hey BP,
I've been renting a unit as a STR for 8 years, but just also added Mid-Term rentals to my options with it. I have it listed on Furnished Finder, but when I got on there I thought FF would be a lot more like Airbnb in the sense that they would handle all the payments/legal stuff. I got credit card payments set up through their sister company, so I'm good there. So I'm just putting together my lease agreements and trying to get things set up to make as few set up errors as possible. Haha.
What tips and pointers do any MTR operators have for Nashville? Does anyone have a good Mid-Term rental adapted lease agreement they use? What is a good metric for a security deposit? I've seen numbers thrown around like 25-33% of the total lease amount. I'm considering a flat security deposit of $500 since I'm looking to rent my space for between $1100-1400/month. I'm assuming y'all pro-rate your lease if it's an unusual length of time like 6, 7, or 10 weeks etc?
Open to any tips/advise! Thanks in advance!
Tim, welcome back to the forums!!!!!!!!!! It has been a long time my friend!
Thanks @Luka Milicevic! Always great to get reconnected! Good to hear from you.