Benefits of Managing Mid-Term Rentals

Admin
Published Date: 2023-06-07

Choosing to offer corporate rentals is a great way to make a profit from your property. However, there is a big question to ask yourself. Do you want to offer long-term, short-term, or midterm furnished rentals?

Most people are familiar with the first two options, while midterm rentals are talked about less. Today, we’ll be sharing the benefits of managing midterm properties so you can decide whether it’s the right choice for you.

Fewer Restrictions

Over the last decades, many counties and cities have put regulations in place for short-term corporate rentals. As an example, in New York City, stays of less than 30 days in apartments are not allowed.  New Orleans has also banned short-term stays.

If you aren’t sure you want to go with a long-term rental, midterm leases are a good alternative. You’ll be following the law while making a profit.

Constant Demand

Short-term corporate rentals cater to people who are traveling, which can vary by the season. If you’ve rented over a shorter period, this is probably something you’ve noticed throughout the year.

Midterm furnished rentals attract people who are coming into an area for at least a few months. This means there are also ups and downs in terms of demand as the seasons change.

Less Needed Management

When someone rents a midterm apartment for six months, you interact only with them during that period. With a short-term lease, you’ll have several people checking in and out. You need to advertise more often and check to make sure all the guests are acting appropriately in your space.

For peace of mind and less stress, midterm furnished rentals are a great choice in the corporate housing world.

Versatile Housing Option

Even during the pandemic when fewer people needed short-term housing, midterm housing was still required. Nurses and other medical professionals often spend months in a certain location and need somewhere to stay. The same applies to international students and others.

Midterm housing is highly versatile and opens up the option to bring in many different kinds of people to your space staying for several months at one time.

Are you interested in offering midterm furnished rentals? Consider advertising your space on CHBO to ensure you keep your property booked. We’re here to help with all your corporate housing management needs.