A medium-term rental is a furnished rental that is rented for 30+ days.
are medium-term rentals the same as the traveling nurse model?
Yes, basically. The difference between the traveling nurse rental model and the medium-term rental model is the naming convention. The setup and execution are the same.
what are other names for the medium-term rental model?
The medium-term rental model has also been called corporate housing, the mid-term model, the remote-worker model and subletting.
While the traveling nurse model and the corporate housing model describe who your tenant base could be, all of the models function the same.
Regardless of the name of the model, your tenant base needs two things:
A furnished rental;
A lease that is at least 30+ days.
what ELSE should I know about the medium-term rental model?
Airbnb is paying attention to this trend because they are seeing the numbers increase year over year. In 2019, 14% of their summer rentals (July-September) were for 28 days. In 2021, this number had increased to 20%.
In January of 2022, Airbnb sent out tips and tricks for this model suggesting they think it will be an important component of their future business.
how can we help with your medium-term rental model?
We've been operating multiple medium-term rentals since 2017, and many of our clients also prefer this model. Please reach out to either of us to discuss more. ERIN@ERINANDJAMESREALESTATE.COM OR JAMES@ERINANDJAMESREALESTATE.COM.
BUY THE BOOK ON MEDIUM-TERM RENTALS.
That's right. There's a book that can help you with your medium-term rental strategy.
Available on Amazon, you can buy it here.