Converting Long-Term Rentals to Mid-Term for Travel Nurses/Corporate — Worth the Hass
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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- Property Manager
- Royal Oak, MI
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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:)
- Drew Sygit
- [email protected]
- 248-209-6824
