Increase Your Cashflow With Short & Mid-Term Rentals

By Shelby Campbell

With over two and a half decades of unwavering commitment to the mortgage industry, I am your seasoned Mortgage Loan Officer dedicated to helping individuals and families achieve their homeownership dreams.

Do you want to increase your cash flow in today’s rental market? Let me share how short and mid-term rentals can help. In today’s market, if you own a $1 million home and it’s only bringing in $4,000 a month in rent, you could be missing out. That rent might not even cover your mortgage unless you made a large down payment when you bought the home.

Instead of settling for a low monthly income, why not explore a better way to make your property work harder for you? I’ll go through your options below:

1. The traditional long-term rental approach. Most investors consider ** ** long-term rentals as the safest bet. However, there are limitations because you’re locked into a fixed rent with long-term leases. For example, in Portland, you can only raise the rent to 10% each year. This can hinder your chance to grow your cash flow.

2. Short and mid-term rentals. Short and mid-term rentals offer a great opportunity to increase your cash flow. With short-term rentals like Airbnb, stays typically go from one to two days or up to a week. Meanwhile, mid-term rentals last a minimum of 30 days and are often used by people who need temporary housing. Examples of these are travel nurses or those who have already sold their homes and are waiting to move into a new one.

Long-term vs short/mid-term rentals. With a long-term lease, you’re stuck with that fixed $4,000 per month. On the other hand, with short or mid-term rentals you could be making anywhere from $8,000 to $12,000 a month. Plus, you avoid the headache of tenants overstaying since short and mid-term renters usually have set plans and other places to go.

This option is also ideal if you’re looking to sell your home but can’t just yet. It lets you earn income while you wait for the market to improve. Additionally, renting out your property on a short or mid-term basis adds value to it. Rental records will show your home as a profitable income property, which can make it more attractive to buyers.

Short and mid-term rentals offer a great opportunity to increase cash flow, especially if you’re waiting for the right time to sell. If you’re planning to make your move soon, remember that you don’t need to navigate the process alone. I also have the software to show you what your home could rent for in today’s market. You can give me a call at 503-563-8875. I’m eager to help.