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Is it difficult to find people who only want to rent for 6 or 9 months and then be done and move out?
If there are a few of these people, who are these people? People who are moving into town and want to get to know the area before they buy a house? People having extensive work done on their nearby homes? People doing temporary jobs?
And do these people usually want the home to be furnished?
My only experience is with people moving into an area and wanting a place that was cheaper than a motel to unload their U-Haul while they looked for where they wanted to live. They have their own furniture.
In my area, there are traveling nurses who stay for a couple of months, then they are replaced by another group of traveling nurses. They are short term renters and I suspect that they would prefer to rent furnished. There is a never ending stream of them coming through.
Last edited by oregonwoodsmoke; 01-20-2016 at 05:52 PM..
Depends on where you live. IF you have a College near you can get renters short term depending on time of the year. Why don't you want a yearly tenant?
I think you would get people new to the area, such as someone that just relocated and needs some time to search/buy a home. Also some people that just sold their home and haven't yet found another home. Or someone that is planning to get married in 6 months so just needs something until them. Or people that are getting a new home built.
Short term renters are really easy to find. Finding a profit in short term renters is another thing.
My experience with renters who wanted short term housing in Silicon Valley, were mainly Indian males who got a tech job, and needed somewhere to stay until they could find another place to rent when their extended family could arrive. And they would want to rent a short term rental with another one or few other men in the same boat.
My experience in renting to them was that the original renter would disappear without notice, and you end up with a bunch of renters in your unit you never met or vetted. I never had a problem collecting rent, but it was unnerving.
The other type who wanted short term housing were traveling nurses. My experience with them was great, because they usually ended up wanting to stay in the Bay Area, so would pay a higher than market rate for short term housing, but would keep extending their stay.
Oh and another type, is the student who wants to come for just a summer internship. They have a really hard time finding short term housing that's cheaper than a hotel. I rented to a few of these at higher than market rate when I had vacancies and they always worked out fine.
In my area short term rentals are hard to find...they are snatched up the second they are posted. We have a lot of snowbirds and college students so short term is great for them.
Moving is expensive. Moving truck, moving help, application fees, pet fees, new deposits, cleaning the old place, days off work and more. Then the hassle of packing, unpacking, only to repack again. That's a big commitment to only move in a few months.
I've had one unfurnished short term rental in my 3 interstate moves. It was a stressful endeavor since I never really felt at home and never committed to unpacking anything but the absolute necessities. I wish I just went into a nice extended stay hotel.
If i had to go into another short term rental I would only consider a fully furnished place that I could bring a suitcase and toothbrush. Then all my stuff could go into storage so I only had to unpack once. it would probably save me about $2,000 over moving my stuff in a short term unfinished place, a price I would be willing to work into the lease to avoid the hassle.
Is it difficult to find people who only want to rent for 6 or 9 months and then be done and move out?
If there are a few of these people, who are these people? People who are moving into town and want to get to know the area before they buy a house? People having extensive work done on their nearby homes? People doing temporary jobs?
And do these people usually want the home to be furnished?
How do you know what the asking price is? I haven't seen it yet.
Koale
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Dude....
