The world is always changing and the vacation rental industry is no exception. Especially in the face of a pandemic. One of the new trends that have been most asserted given the current circumstances is the increase in demand for mid-term rentals. If you are a short-term rental owner, it might be something worth considering. It can help you fill the blank spaces in your calendar and increase your income during the low season. Warmrental shares with you what you should know about how to prepare your rental for mid-term stays.
What are mid-term stays?
Generally, mid-term stays can range from 28 days to 9 months. That is, they are longer than leisure or business trips that typically only last a few days. Taking into account its nature, both the amenities, the prices, and the conditions must be adapted in order to benefit longer stays.
Who is looking for this type of rentals?
Medical staff or professionals who need to move temporarily, digital nomads, students in exchange programs, foreigners who are considering moving to the country they’re visiting and need accommodation while seeking permanent residence, etc.
How to adapt your vacation rental for mid-term stays?
- Set monthly rates. If short-term accommodation tends to charge per night, it is expected that a discount will be applied for longer stays. Therefore, you can apply a monthly discount to make your property more attractive for those looking for this type of accommodation.
- Make sure your property is adapted for longer stays. Generally, those who book a mid-term stay are not tourists, so they are looking for different things. Make sure your property offers practical amenities that benefit longer stays, such as fast and efficient Wi-Fi, a fully equipped kitchen, a washing machine, mid-stay cleaning, etc.
- Advertise your property on mid-term accommodation sites. To have more people watching your listing, advertise your property on specialized sites for a mid-stays. This will increase the likelihood that your listing will be seen by those looking for this specific type of accommodation.