While short-term rentals are seeing slowing demand, mid-term rentals are taking off (and fast). Mid-term rentals, also called medium-term rentals or MTRs, are thirty-day or longer stays, usually for traveling professionals or those who need temporary housing while relocating. These rentals give you more rent than a regular long-term rental, less turnover than short-term rentals, and can be successful in even the most average of markets. Where are MTRs heading next? We brought on Jeff Hurst, CEO of the leading MTR listing website Furnished Finder, to share the data he’s seeing.
Jeff believes MTRs are still years away from peaking in demand and supply. But maybe he’s a little biased as someone who works in the field. Even as an industry insider, Jeff brought some solid stats that show that MTR is far from falling off the investing map. He’s so bullish on this strategy that he believes MTR is now where Airbnb was in 2012. But what should you do to get in on MTR investing?
Jeff shares the best MTR markets and signs for whether or not your city could be a great place to try it, plus the surprising property type that works best for this strategy (MUCH more affordable than short-term rentals) and how landlords and investors can find tenants WITHOUT going through pricey booking platforms.
In This Episode We Cover
The state of the mid-term rental market and why it’s looking much brighter than short-term rentals
Mid-term rental investing explained, and who’s staying at these properties
Why rural markets actually make terrific mid-term rental investing areas
How to start investing in mid-term rentals WITHOUT owning a single property (rental arbitrage)
How to find tenants for your mid-term rentals without paying high listing fees
The (surprisingly) small property types that work best for mid-term rentals
And So Much More!
Links from the Show
Join the Future of Real Estate Investing with Fundrise
Join BiggerPockets for FREE
Find an Investor-Friendly Agent in Your Area
Dave's BiggerPockets Profile
Henry's BiggerPockets Profile
How to Invest in Medium-Term Rentals
Furnished Finder Stats
Grab the MTR Book, “30-Day Stay”
Jump to topic:
(00:00) Intro
(01:57) What Are Mid-Term Rentals?
(06:21) Mid-Term Demand is Still Growing
(09:58) Best Mid-Term Markets
(18:19) Are We Past the Peak?
(20:26) Finding Tenants
(23:59) Fewer Regulations?
(30:03) Bullish on Mid-Term’s Future
Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/on-the-market-261
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On The Market