Hey there, folks! Lately, I’ve been doing some serious thinking after losing a bunch of awesome tenants in my sweet remodeled 3 bed 2 bath DADU that’s tucked behind a duplex in the urban jungle near some hospitals. I was on the brink of sealing a deal to sell the whole property, but now it seems like things might be taking a nosedive. The potential buyer is throwing a curveball by asking me to kick out the remaining tenants. Like, seriously? Why would I evict them when I had already offered him a pretty decent deal?
I’ve got this property at a super low interest rate (2.25%) and now I’m starting to think I might just hang onto it a tad longer. I’ve been toying with the idea of testing the waters in the mid-term rental market, something new for me but hey, why not give it a shot, right? I reached out to the folks at Furnished Finder and they hit me with some eye-popping figures for my area. We’re talking anywhere from $3,000 to $4,500 for similar 3 bed 2 bath setups. That’s like, mind-blowing! Of course, I’d probably price mine a bit lower since one of the bedrooms can easily double up as a home office.
Before this, I was pulling in $2,500 from long-term rentals, and if I factor in covering electricity, utilities, and internet for the tenants, I could potentially rake in around $2,800 and still undercut the competition offering lower-tier 3 beds and the mid to high-end 2 bed setups.
So, here’s the deal – I want to hear from you guys. What’s your take on mid-term rentals, especially through Furnished Finder? And if you’re into hosting travel nurses, how often do these types of guests come your way? I’m all ears and super grateful for any advice you can throw my way. Cheers!