BiggerPockets Real Estate Podcast

This Could Be Like Getting into Airbnb in 2012

Nov 29, 2024

Join Jeff Hurst, CEO of Furnished Finder, as he dives into the booming world of mid-term rentals, which cater to traveling professionals in need of 30 days or more of lodging. He shares compelling insights and data, suggesting this market is still on the rise, much like Airbnb was in 2012. Discover the best strategies for entering the mid-term rental scene, including which properties perform best and how to find tenants without costly platforms. Jeff also highlights key markets and the advantages of a less crowded rental landscape!

42:36

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Episode guests

Jeff Hurst

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Episode notes

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Quick takeaways

Mid-term rentals are gaining traction due to increased demand for flexible living arrangements among traveling professionals post-pandemic.

Investors entering the mid-term rental market should analyze local dynamics and focus on areas with diverse tenant needs for optimal success.

Deep dives

Understanding Midterm Rentals

Midterm rentals are defined as properties rented for a duration of more than 30 days but less than one year, positioning them between traditional long-term leases and short-term rentals like those listed on Airbnb. This rental strategy has gained popularity, particularly post-pandemic, due to an increased demand for flexible living arrangements, especially among traveling professionals such as healthcare workers and corporate contractors. The podcast underscores the unique market nuances for midterm rentals, which lack the extensive data profiles seen in short-term and long-term rental markets. It highlights that the clientele for midterm rentals is typically more diverse, ranging from traveling medical professionals to individuals considering relocation.

Intro

2min

Navigating the Midterm Rental Market

7min

Navigating the Midterm Rental Market: Opportunities and Strategies

5min

Navigating Midterm Rentals: Market Insights

11min

Navigating Midterm Rental Strategies

10min

Midterm Rentals: A Housing Game Changer

8min

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!

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