The Opportunity: More Money, Less Work
- 150% higher profit compared to short-term rentals
- 80% less operational work - fewer cleanings and turnovers
- 40% premium rates over traditional leases
- 90% fewer guest messages per month
Target Guest Types
Digital Nomads & Remote Workers
- Stay length: 1-6 months
- Needs: High-speed WiFi, dedicated workspace, kitchen
- Pricing: Premium rates ($120-180/night)
- Marketing: Remote work Facebook groups, LinkedIn
Corporate Travelers
- Stay length: 2-6 months (project-based)
- Needs: Professional environment, expense reporting
- Pricing: Highest rates ($140-200/night)
- Marketing: Direct corporate partnerships
People in Transition
- Stay length: 1-4 months
- Situations: Home renovations, relocations, divorce
- Pricing: Premium rates due to urgency
- Marketing: Local Facebook groups, Craigslist
Traveling Healthcare Workers
- Stay length: 3-6 months (contract assignments)
- Needs: Reliable housing, quiet environment
- Pricing: Consistent, stable income
- Marketing: Furnished Finder, hospital partnerships
Property Requirements
Essential Features
- High-speed internet: 100+ Mbps minimum
- Dedicated workspace: Desk and ergonomic chair
- Full kitchen: Quality appliances and cookware
- Washer/dryer: In-unit preferred
- Comfortable living area: Beyond just beds
Neighborhood Characteristics
- Safe area: Solo travelers feel secure
- Walkable: Restaurants and services nearby
- Transportation: Public transit or parking
- Business districts: Near offices/hospitals/universities
Pricing Strategy
Rate Structure
- 30-59 nights: 115% of standard nightly rate
- 60+ nights: 125% of standard rate
- Corporate bookings: 140% of standard rate
- Still 30-40% discount from nightly rates
Example Pricing Model
Short-term: $150/night × 20 nights = $3,000/month Mid-term: $120/night × 30 nights = $3,600/month Result: 20% more revenue, 33% fewer turnovers
Marketing Channels
Primary Platforms
- Airbnb: Enable monthly discounts, 28+ day minimum
- VRBO: Strong corporate and family market
- Furnished Finder: Healthcare workers specifically
- Corporate housing sites: Business travel focus
Direct Marketing
- LinkedIn outreach: Connect with companies
- University partnerships: Visiting professors, grad students
- Hospital partnerships: Traveling medical staff
- Relocation companies: Corporate moves
Operational Differences
Check-in Process
- Comprehensive orientation: 30-45 minutes
- Detailed area guide: Local services and amenities
- Neighbor introductions: Build community connection
- Clear expectations: House rules for extended stays
Ongoing Management
- Weekly check-ins: First month only
- Monthly inspections: Property condition
- Mid-stay services: Optional cleaning, linen refresh
- Maintenance coordination: Faster response times
Revenue Comparison
Traditional Short-Term Model
- Monthly revenue: $3,200 (when fully booked)
- Cleanings: 15 per month × $80 = $1,200
- Guest messages: 45+ per month
- Supplies/wear: $400/month
- Net profit: $1,600/month
Mid-Term Model
- Monthly revenue: $4,200 (locked for months)
- Cleanings: 0.7 per month × $80 = $56
- Guest messages: 3-5 per month
- Supplies/wear: $100/month
- Net profit: $4,044/month
Legal Considerations
Lease vs. License
- Stay under 30 days in some markets to avoid tenant rights
- Clear occupancy limits and terms
- Professional lease agreements recommended
- Legal review for local compliance
Tax Implications
- Different depreciation schedules may apply
- Utility expense allocation for longer stays
- Professional consultation advised
- Cleaning service deductions change with frequency
Success Metrics
Financial Metrics
- Average length of stay: Target 45+ days
- Revenue per occupied day: Higher than short-term
- Occupancy rate: 85-95% achievable
- Cleaning cost per booking: Dramatically reduced
Operational Metrics
- Guest satisfaction scores: Often higher
- Repeat booking rate: 30-40% possible
- Time between bookings: Minimize gaps
- Monthly maintenance costs: More predictable
Implementation Timeline
Month 1: Property Preparation
- Install business-grade internet
- Set up dedicated workspace
- Stock kitchen with quality items
- Create comprehensive local guide
Month 2: Marketing Launch
- Optimize listings for mid-term keywords
- Reach out to corporate contacts
- Join relevant professional groups
- Build partnerships with local businesses
Month 3: Operations Refinement
- Analyze pricing based on demand patterns
- Develop SOPs for extended stays
- Build service provider network
- Track and optimize key metrics
Common Mistakes to Avoid
Pricing Errors
- Insufficient monthly discounts - guests expect 30-40% off nightly rates
- Forgetting utility costs - longer stays use more utilities
- Underestimating cleaning between longer stays
- Not accounting for seasonal variations
Property Management Issues
- Inadequate internet speed - remote workers will leave
- Poor workspace setup - affects booking conversion
- Insufficient local information - longer stays need more guidance
- No mid-stay communication - guests feel abandoned
Getting Started Checklist
- Analyze your market - Research extended stay demand
- Upgrade property amenities - Focus on workspace and kitchen
- Optimize platform listings - Emphasize monthly rates
- Build local partnerships - Corporate and healthcare connections
- Develop extended stay SOPs - Different from short-term operations
- Track performance metrics - Monitor occupancy and profitability
Implementation Tools
Ready to target mid-term rentals? Use specialized platforms:
- Extended stay pricing calculators
- Corporate outreach templates
- Workspace setup guides
- Guest communication sequences for longer stays
- Financial tracking for different stay lengths