Key Takeaways
Midterm rentals are usually furnished, move-in-ready properties typically rented for 30 days or longer, often for one- to six-month stays.
Demand for midterm rentals comes from renters who need temporary housing, such as remote professionals, healthcare workers, relocating families, students and project-based workers.
Midterm rentals can earn more than long-term rentals with fewer turnovers than short-term rentals.
For landlords, the strategy works best with the right property, strong screening, a solid lease, and efficient property management.
Introduction
For many landlords, rental strategy has traditionally meant choosing between a year-long lease and a short-term vacation rental. Midterm rentals offer another option: furnished, move-in-ready properties rented to tenants who need temporary housing for a month or longer.
To learn more about this growing rental strategy, we spoke with Jon Styer, owner of Styer Real Estate Professionals and founder of Styer Hospitality Company, during an exclusive Innago webinar. Styer’s company manages approximately 120 furnished rentals in central Ohio, giving him firsthand experience with both midterm and short-term rental operations.
For landlords weighing potential income against the workload of managing a furnished property, Styer describes the appeal simply:
“[Midterm rentals] have opportunity for more income with your rentals and less work than a short term.”
What Are Midterm Rentals?
So, what are midterm rentals? Midterm rentals are furnished properties rented for 30 days or longer, commonly for stays of one to six months. Styer uses one to six months as a practical range rather than a strict definition, noting that some guests extend their stays for much longer.
Unlike a traditional rental, a midterm property is generally move-in ready. Styer recommends providing furnishings, utilities, Wifii, linens, kitchen supplies, and enough basic household essentials for a guest to settle in immediately. Landlords do not necessarily need to supply consumables for the entire stay because the goal is to ensure that the tenant has what they need when they first arrive.
This model often serves people who need temporary housing without furnishing a home or committing to a traditional year-long lease. For example, Stellar Housing Solutions, an Innago customer specializing in midterm rentals, commonly houses relocating tenants and traveling medical professionals for stays ranging from several months at a time.
Midterm Rentals vs. Short-Term and Long-Term Rentals
Midterm rentals occupy what Styer calls a “sweet spot” between short-term and long-term rentals. They generally require more involvement than a traditional lease but fewer turnovers and less day-to-day work than a short-term rental.
Rental Type | Typical Stay | Is it Furnished? | Management | Income Profile |
Short-term rental | 1-28 nights | Yes | High effort and frequent turnovers | Higher potential, but more volatile |
Midterm rental | 30+ days, often 1-6 months | Yes | Moderate effort | Premium rates with more predictable cash flow |
Long-term rental | Commonly 12 months | Usually no | Lower day-to-day effort | More stable, market-based rent |
Styer states that this balance is one of the main attractions of the model. Midterm landlords can often charge more than they would for a traditional long-term rental while avoiding any constant guest turnover associated with vacation rentals. Fewer turnovers also reduce the operational costs that cut into short-term rental returns.
In Styer’s own words:
“Midterm rentals, in my opinion, offer a sweet spot, and it’s a third lane that is growing and growing in demand.”
Why Is Demand for Midterm Rentals Growing?
Demand for midterm rentals has grown alongside changes in how and where people work, travel, and relocate. Remote work makes it possible for many professionals to live somewhere temporarily without taking time away from their jobs, while traveling healthcare workers, corporate projects, relocations, and other life transitions continue to create demand for furnished housing beyond a few nights.
Styer points to data from AirDNA and Furnished Finder showing the growth of the market. According to the figures he presented, stays of 28 days or longer grew 136% from 2019 to the time of the webinar, compared with 52% growth for short-term stays over the same period. He also notes that Furnished Finder's active listings grew from roughly 20,000 to more than 300,000 over five years.
Rather than viewing that demand as temporary, Styer argues that changes in work and mobility are creating a longer-term market for flexible housing:
“This is a structural shift in the way that people are living. This is not a fad.”
For landlords, this means demand for temporary housing may come from several sources instead of depending on vacation travel or a single seasonal market.
Why Should Landlords Consider Midterm Rentals?
For landlords, the appeal of midterm rentals and temporary housing is the balance between income potential and workload. As Styer puts it, landlords can potentially earn “higher rental income than a long-term rental and less work than a short-term rental.”
Potential benefits include:
Premium rental rates in exchange for furnishing, utilities, and greater flexibility.
Fewer turnovers than short-term rentals, which can mean less cleaning, guest messaging, and vacancy between stays.
Longer bookings, allowing landlords to lock in several months of occupancy from a single tenant.
Broader demand from renters who need temporary housing for work, healthcare, relocation, school, or other circumstances.
Styer convincingly summarizes the model by saying:
“Expect higher income than a long-term rental with fewer turnovers and less vacancy than a short-term rental, and more so than anything, less drama”
How Do the Financials of a Midterm Rental Work?
Midterm rentals typically earn their premium because tenants are paying for more than the property itself. They are also paying for flexibility and the convenience of a furnished, move-in-ready home with utilities arranged already.
How much more a landlord can charge depends heavily on the market and property. In Styer’s own Columbus portfolio, he says midterm properties commonly earn roughly 1.5 to 2.5 times comparable long-term market rent, with some properties reaching three times market rent. Those figures reflect his portfolio rather than a guaranteed return for midterm rentals generally.
The higher gross rent also comes with additional expenses. Landlords need to account for furnishings, utilities, Wifi, cleaning and turnover costs, vacancy, insurance, and ongoing maintenance. Styer recommends underwriting conservatively and comparing the property as a long-term, short-term, and midterm rental before committing to one strategy.
Importantly, turnover makes a major difference to the final return. Longer stays mean fewer move-outs than a short-term rental, while tenants may also cover cleaning or other turnover-related charges depending on how the property is operated. For Styer, reducing those turnover costs is one of the major financial advantages of the model:
"The fewer move-outs compared to short-term is where the money is.”
Before investing, landlords should therefore look beyond the advertised monthly rent and estimate financial metrics such as net income after furnishing, operating expenses, vacancy, and turnover.
How to Market and Screen Midterm Rental Tenants
Marketing a midterm rental starts with understanding why someone would need temporary housing in that location. Styer recommends identifying nearby demand drivers such as hospitals, major employers, universities, military bases, and large development projects before investing in or furnishing a property.
Additionally, presentation also matters. Because most prospective tenants will evaluate the property online, Styer recommends quality furnishings, professional photography, and a listing that clearly communicates what the home offers. Midterm rentals can be marketed through platforms such as Furnished Finder, Airbnb, Vrbo, corporate housing channels, direct-booking websites, and referrals.
Once an applicant is interested, tenant screening should look more like traditional property management than vacation-rental hosting. Styer explains:
“You’re going to screen these guests just like you would a long-term guest or a long-term tenant.”
In his own portfolio, every guest completes a background check and signs a lease. Landlords can similarly use tenant screening to review applicants before committing to a months-long stay.
What Should Landlords Know About Midterm Rental Leases and Regulations?
A stay lasting a month or longer may operate differently from a short-term vacation rental, but landlords should not assume midterm rentals are exempt from rental laws.
Styer emphasizes that tenancy laws can apply to 30-day-plus stays, meaning midterm occupants may have many of the same legal protections as traditional tenants. In his Ohio market, for example, he explains that qualifying stays require a lease and that a tenant who refuses to leave may need to go through the formal eviction process. Laws vary by location, so landlords should review their own state and local requirements before adopting the model.
The same caution applies to short-term rental regulations. Styer notes that many ordinances governing stays under 30 days may not apply once a rental crosses that threshold, but the exact cutoff and requirements are municipality- and state-specific.
Landlords should therefore:
Use a written lease for each midterm tenancy.
Screen applicants consistently.
Review applicable state landlord-tenant laws.
Confirm local rules governing minimum stays and furnished rentals.
Check with their insurance provider to make sure the property is covered for its intended use.
As Styer cautions:
“It’s not all sunshine and roses. You’re taking on 30-day-plus guest stays, and tenancy laws do apply.”
Challenges to Consider Before Leasing a Midterm Rental
Midterm rentals can offer attractive returns, but they also require more upfront investment and active management than a standard unfurnished lease. One of the largest initial expenses is furnishing the property. Styer stresses that landlords should not sacrifice aesthetics or functionality simply to reduce startup costs, since the appearance of the property can directly influence bookings.
Other challenges include:
Vacancy: Occupancy is not guaranteed, so landlords should underwrite conservatively rather than assume the property will remain booked year-round.
Utilities and operating costs: Unlike many traditional rentals, landlords commonly cover Wi-Fi and utilities as part of the monthly price.
Insurance: A furnished rental may require different or additional coverage, so owners should confirm requirements with their insurer.
Screening and tenant rights: Longer stays bring greater legal responsibilities than a typical vacation rental.
Management workload: Furnished rentals still require guest communication, maintenance, turnovers, marketing, and calendar management.
Most importantly, not every property is a good fit for midterm renting. Styer’s advice for landlords new to the model is as follows:
“Start with one right fit property, furnish it well, learn your lessons, take your lumps, make sure you have that solid lease, and then you can grow from there.”
Managing Midterm Rentals with Innago
Midterm rentals may have fewer turnovers than short-term rentals, but landlords still need to manage applications, screening, leases, rent payments, maintenance, and move-outs. Styer specifically recommends screening midterm applicants and using a lease for every stay.
Innago brings those tasks together in one property management platform. Landlords can use Innago to:
Screen tenants and run background checks.
Create and electronically sign leases.
Collect rent and security deposits online.
Track maintenance requests in one place.
Set notifications for expiring leases and other important dates.
These tools can be especially useful with midterm rentals, where landlords may repeat the onboarding and move-out process several times each year. Innago customer Stellar Housing Solutions, which primarily manages midterm rentals, uses the platform for applications, screening, leases, payments, maintenance, and security deposit returns.
Conclusion
Midterm rentals give landlords another option between traditional year-long leases and high-turnover vacation rentals. By serving tenants who need furnished temporary housing for a month or longer, landlords may be able to earn premium rents while avoiding some of the constant turnover associated with short-term rentals. For landlords interested in testing out midterm rentals, Styer recommends starting small:
“Start with one right fit property, furnish it well, learn your lessons, take your lumps, make sure you have that solid lease, and then you can grow from there.”
FAQs
What are midterm rentals?
Midterm rentals are furnished properties typically rented for 30 days or longer, often for one- to six-month stays. They usually include utilities, Wi-Fi, and basic household essentials.
Are midterm rentals worth it?
They can be worth it for the right property and market. Midterm rentals may earn more than long-term rentals while requiring fewer turnovers than short-term rentals, but landlords should account for furnishing, vacancy, utilities, insurance, and management costs.
How to find a midterm rental?
Look on platforms such as Furnished Finder, Airbnb, Vrbo, corporate housing sites, and direct-booking websites. Midterm rentals are often concentrated near hospitals, universities, major employers, and large development projects.
What are red flags when renting a house?
Red flags include unclear lease terms, pressure to pay before screening or signing, poor property condition, and inconsistent communication from the landlord or manager. Renters should also confirm what utilities, furnishings, deposits, and fees are included.
Are midterm rentals the sweet spot of real estate?
They can be for some landlords. Styer describes midterm rentals as a “sweet spot” because they may combine higher income than long-term rentals with fewer turnovers and less management than short-term rentals.
