Anyone tried a short term rental between tenants?

Question

I have a situation where tenants are moving out and the new tenants are not moving in for about 3 weeks. I had an applicant that I would feel comfortable renting to but we offered it to someone else. She is relocating here for a new job and I just had a thought that rather than turn her away, what about offering her a short term rental for say 2 weeks?

It would basically just be a place to sleep while she started her new job and found a permanent place to live, but would cover the income gap while waiting for the new tenants. If I gave her 2 weeks I would still have a few days/a week or so to clean the place and have it ready for the next tenant. Is this a good idea? Bad idea? Any thoughts? Would I use the same lease agreement I do for 'long term' tenants? Anything else I should consider?

Jeffery Griggs · Answer

It seams like a lot of risk for little reward to me. What happens if you can't get the 2 week tenant out in time for the permanent tenant?

The chance that something could go wrong and the cost of a second cleaning (time and/or money) for 1/2 months rent is not appealing to me

Mike Palmer · Answer

Thanks for the feedback all. I probably would not have let them 'move in' (with all their furniture and stuff--more just a place to stay with a suitcase and air mattress or something), but I decided to pass on that idea.

Juan Duque · Answer

It would only work if the place is furnished.

Jeff B. · Answer

Short Term == 'transients' in my book.

Michael Boyer · Answer

Mike, I find most of the landlord work is on the turn arounds (cleaning, painting, details, onboarding, etc). Add your hourly for the time and work just doing your paper work, screening, orientation, lease, and then, you may even find she leaves it messy enough that you have to clean up some again... I can't see it penciling out well. Add in any risks of problems (say, she doesn't leave, is not stable, or gets hurts)... and it is not a good move in my opinion.

I even quit doing seasonal (summer) rentals early in my career due to the turn arounds and work. The longer term the better (I do 6 months min, preferably one year and renew when it is working). I echo Jeffery above...

Anyone tried a short term rental between tenants?

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