What is MTR?
- Mid-term rental: Usually lasts 30 days to 6 months, potentially up to a year
- Common reasons for seeking mid-term rentals:
- Insurance claims (e.g., flood, water damage, fire)
- Need for furnished accommodations
- Short-term housing for students
- Families in transition between homes
- Families undergoing home renovations
- Typically furnished like short-term rentals (STRs):
- Includes furniture, fully equipped kitchen, linens, towels, and laundry facilities
- Landlords often cover utility costs:
- Water, trash, electricity, gas, internet
- Special insurance may be obtained for mid-term rental properties
- Cost to furnish varies based on:
- Property size
- Quality of furniture and accessories
- Location
- Target market
- Furnishing costs range from $15,000 to $30,000, depending on various factors