Converting Long-Term Rentals to Mid-Term for Travel Nurses/Corporate — Worth the Hass

Member since 2026 · 26 posts · 10 votes

With hospital systems and corporate relocations feeding steady mid-term demand in some markets, seems like more landlords are weighing whether furnishing a unit and switching to 30-89 day stays actually beats a standard 12-month lease once you account for turnover and furnishing costs. Anyone running the numbers on this seriously? Curious what markets are seeing real premiums from mid-term versus just added headache.

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Drew SygitBusiness Member

Property Manager · Royal Oak, MI · Member since 2012 · 12k+ posts · 9k+ votes

1mo

Nothing new here - except to you.

We've done LTR for decades, tried STR and found it too intense.

We do a decent amount of MTR now.

You'd be surprised about types of MTR Guests.

It can probably be done just about anywhere, but of course there are high demand areas that are more profitable.

Not sure why you limited MTR to 89 days?

We just consider MTR 30+ days.

Last year we had an insurance company place a Guest for 60-days while their home was being repaired after a fire. They ended up staying 9 months!
- This is COMMON! Insurance companies used to book these stays for 6 months, but keep shortening the length of their commitments. So, now 60-days seems to be the max, even though EVERYONE knows there's no way a fire reno is getting done in that amount of time.

DM us if you'd like to chat more about this topic:)

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Janice Carter
Real Estate Broker · Atlanta · Member since 2024 · 1k+ posts · 604 votes
1mo
@Jack Shields In the Metro Atlanta market, I have seen growing demand for mid-term rentals from corporate relocations and traveling professionals. They can generate higher income but only if occupancy stays strong and the added furnishing, utilities and turnover costs are carefully managed. As always, the numbers and local demand should drive the decision.
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Drew SygitBusiness Member
Property Manager · Royal Oak, MI · Member since 2012 · 12k+ posts · 9k+ votes
1mo
Nothing new here - except to you.
We've done LTR for decades, tried STR and found it too intense.
We do a decent amount of MTR now.
You'd be surprised about types of MTR Guests.
It can probably be done just about anywhere, but of course there are high demand areas that are more profitable.
Not sure why you limited MTR to 89 days?
We just consider MTR 30+ days.
Last year we had an insurance company place a Guest for 60-days while their home was being repaired after a fire. They ended up staying 9 months!
- This is COMMON! Insurance companies used to book these stays for 6 months, but keep shortening the length of their commitments. So, now 60-days seems to be the max, even though EVERYONE knows there's no way a fire reno is getting done in that amount of time.
DM us if you'd like to chat more about this topic:)
[email protected]248-209-6824
Logical Property Management4.9450 Reviews
Website View Page
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G. Brian DavisPro Member
Investor · Hatboro, PA · Member since 2016 · 2k+ posts · 842 votes
1mo
It comes down to whether you're being compensated for the additional complexity. Higher rent is great, but not if it's offset by more vacancies, more turnover, furnishing costs, and more time managing the property. I'd want to know what the net return looks like after all of that. If the numbers still make sense, great. If not, I'd rather keep it simple.
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James JonesPro Member
Investor · Collierville, TN 38017 · Member since 2017 · 589 posts · 443 votes
1mo
Ran this on a couple units. The premium is real but it's not free money, you're trading a hands-off asset for a part time job.

Where it works: you need actual demand near you, not the idea of it. A hospital within a reasonable drive, a traveler agency that places there, some corporate or insurance-housing flow. Nashville has the hospital piece, so you're in a real market, not forcing it. But verify it before you furnish anything. Go look at what's actually booking on Furnished Finder in your zip, not what's listed. Plenty of listings, way fewer bookings.

The number that kills people isn't furnishing cost, it's occupancy. A 12 month lease is 100% occupied by definition. Mid-term you're looking at gaps between placements, and every empty week eats the premium fast. I underwrite it at more like 75 to 80% and if it still beats the long term rent, then it's real. If it only works at 95% occupied, it doesn't work.

Also it's a different job. You're now doing turns, cleanings, furnished-unit wear, replacing stuff that walks, utilities and internet in your name, and fielding "the wifi's down" at 9pm. Some of that you can hand to a cleaner or a co-host but that's another cut off the top.

My rule of thumb: mid-term has to clear the long term rent by a real margin, not a rounding error, before I'll take on the headache. If it's only a couple hundred a month better on paper, the long term tenant wins once you price in your own time. When it's genuinely 1.5x plus, then it's worth furnishing.

One in-between worth a look. Keep it a normal unfurnished 12 month lease but market to traveling professionals doing longer assignments or relocations who bring their own stuff. Some of the tenant quality, none of the furnishing and turnover. Doesn't capture the full premium but the headache drops a lot.
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Bill B.
Investor · Las Vegas, NV · Member since 2013 · 8k+ posts · 10k+ votes
1mo
I assume it also works best in areas with rents at $2,000/mo or higher. You don’t want to trade your $1,000/mo LTR for $1,5000/MTR and then have $400/mo in utilities. I suppose an “inside” condo would work where the rent per sf is high and the utilities are low. I was only thinking of stand alone properties as that’s what I have. I’m also assuming you’re not switching utilities back and forth but maybe that’s wrong too? Now I have more questions. What do you include in your MTR rent.
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Natasha VerelaBusiness Member
Investor · Winter Garden, FL · Member since 2026 · 7 posts · 0 votes
1w
It depends on the market. Im in NYC which is a very real threat when it comes to non paying tenants. Eviction on average takes 18 months with the housing courts and almost never will you recoup back rent. Better to rent to traveling nurses, students, or insurance/corporate housing.
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