To Lease Mid-Term, or Not.

With so much fluctuation over the last few years, mid-term rentals entered the chat.

Some markets with no short-term regulation became flooded. Cue the host complaints.

But as the records now show, and as mentioned in The Art + Science of STRs, not everyone has the required gifts in their DNA. Many properties are performing and maximized.

If you live in a prime summer vacation location, with millions of visitors driving through town, plus a cap on STRs, and your short-term rental is not fully booked for the entire season by June 1st, there could be any number of good reasons why. 

That said, in the markets where there ARE a zillion short-term rentals and a lack of local housing, reconsider. 

Without locals being able to find housing, the entire town is pulled down into a number of issues. Increased local commuter traffic, lack of enough employees to keep local businesses flowing with ease and grace through the height of tourist season, and even throughout the year, which offers all parties a lot more stability. Something we could all use a lot more of these days.

However, if your property is in an area flooded with STRs but also with an abundant healthcare industry… or you’re in a college town… consider mixing it up with mid-term options. Travel nursing has become much more common over the last decade or two. Some college students and professors are in and out of town on a semester basis. Plus, other professionals and retirees come and go monthly. Mid-term rentals can provide much more bang for the buck for both you and your guest depending on your location.

Always go deep into the data. Or hire someone who does. Hint, hint.