30-Day Stay by Zeona McIntyre

Author:Zeona McIntyre
Language: eng
Format: epub
Publisher: BiggerPockets Publishing

Size of Unit or Number of Bedrooms

In the traditional, drivable vacation rental markets, which are the bread and butter of short-term rental operators, “the bigger, the better” is the rule with home size. The idea is to have four or five bedrooms and sleep ten or more guests, meaning you can attract two or three families who can pay more per night. Medium-term rentals are a different game. We have found that one- and two-bedroom units are the sweet spot. (Although, with families traveling for extended stays, three bedrooms can work as well.) Our reasoning behind one to two bedrooms is that nurses often travel alone or with a partner, child, or another nurse. Most of these scenarios can be covered by a maximum of two bedrooms. We believe sticking to the one- and two-bedroom units will give you the most expansive tenant pool (and at a lower purchase price).

A little aside about one-bedroom units: One-bed properties often get a bad rap as not being as easy to rent or market. Therefore, they tend to sit for sale longer and can often be scooped up for a discounted price. This is my favorite weapon because they are dreamy for medium-term rentals. Fun fact: I owned two one-bedroom single-family homes (didn’t know they made these, did you?) and two one-bedroom condos. Let’s jump into my story about negotiating a one-bedroom home.

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