mid term rentals on airbnb

Why you should consider mid-term rentals on Airbnb: discover the benefits

The COVID-19 health crisis has profoundly affected travellers’ habits, especially regarding holiday rentals. Some travellers now choose to leave their accommodation for a few weeks or months to settle in another town or country. One obvious solution for finding accommodation is Airbnb. If you’re on the fence about mid-term rentals on Airbnb, you’ve come to the right place. In this article, we’ll explain why you should follow this trend and what you should consider as a property manager to adapt and meet this type of demand.

What’s a mid-term rental?

A nice apartment is the key to a successful mid-term rental so people want to live there for a few months

Mid-term rental is an alternative to short-term rental. Mid-term lets are intended for stays of more than one month, but no longer than one year. For stays of less than a month, the right solution is short-term rental. On the other hand, if you are renting for more than 12 months, you are talking about an Airbnb long-term rental.

The tenants you welcome in your property do not intend to settle there permanently but are looking for accommodation that offers everything they need to live as if they were at home: furniture, Wi-Fi, etc.

What are the profiles of travellers interested in mid-term rentals on Airbnb?

Digital nomads are looking for mid-term rentals on airbnb

This type of rental is aimed at people experiencing a temporary change in their situation, such as a professional assignment for a few months, a move to another city while waiting to find a permanent rental or purchase a home, or those who decide to spend a few weeks teleworking elsewhere.

These individuals are known as digital nomads. Since COVID, many people who can work remotely or who are freelancers no longer hesitate to stay in a city other than their own to get a change of scenery while continuing their professional activity.

More broadly, the typical profiles of people interested in mid-term rentals include:

  • Higher education/University students: these are students who need accommodation for the duration of their internships, which typically range from 1 to 6 months.
  • Workers on temporary assignments: this category includes employees on temporary transfers, seasonal contracts, fixed-term contracts, or temporary work assignments.
  • Digital nomads: these are professionals who can work from anywhere, thanks to remote working capabilities.

What are the main advantages of mid-term rental Airbnb for guests?

More and more travellers are seeking mid-term rentals on Airbnb because this type of accommodation offers numerous advantages:

  • These rentals come equipped with furniture, a kitchen, a washing machine, and all the necessary amenities, providing all the comfort needed to stay for several weeks or months, just like at home.
  • Flexibility: similar to short-term rentals, you can choose your arrival and departure dates based on availability, offering a high degree of flexibility.
  • Cost-effective monthly rates: mid-term rentals on Airbnb often come with special monthly rates, with a single monthly payment and no additional fees, which is especially beneficial for those opting for several months or even long-term stays.

What are the main advantages of mid-term rentals for property owners?

As an Airbnb host, having your properties available for mid-term rentals also comes with numerous benefits:

  • Convenience: you can rent out a secondary home for several months to generate income and still have the flexibility to use it for personal vacations, such as during the summer;
  • Time-saving: mid-term rentals require less time and investment than short-term rentals. There are fewer cleanings and fewer check-ins and check-outs to manage;
  • Increased revenue: renting out your property for several months through mid-term rentals on Airbnb can boost your income compared to only offering short stays;
  • More respectful tenants: mid-term tenants tend to stay longer than a weekend, making them more likely to return the property in the same condition they found it.

From a financial perspective, mid-term rentals are a smart choice. Here’s why:

  • Reduced operational costs: by renting your property for longer periods, you cut down on operational expenses associated with frequent turnover, such as cleaning fees.
  • Avoidance of downtime: mid-term and long-term rentals help you avoid vacancy periods, potentially increasing your overall rental income.

Mid-term rentals offer property owners a balanced approach, providing financial stability and operational ease. By choosing this rental model, you can maximise your property’s potential while enjoying a more manageable hosting experience.

How do you rent out your property as a mid-term rental?

Don’t hesitate to set up an office area to make travelers want to stay for a long time while still being able to work

According to Bert de Roo, Head of Sales at Homelike, short-term rental property managers should seriously consider transitioning to mid-term rentals.

“Mid-term/long-term rentals have a higher occupancy rate throughout the year, especially during the low season when property managers can keep their properties occupied. At Homelike, the average duration of a mid-term rental is 90 days, allowing owners to have their properties rented year-round with just 4 stays.”

Therefore, it is particularly advantageous for property owners or property managers to consider offering mid-term rentals in addition to short-term rentals. Here are some solutions to transition to mid-term rentals.

Renting your property as a mid-term rental on Airbnb

It is possible to rent out your accommodation for several weeks or months on Airbnb. Contrary to popular belief, Airbnb allows you to offer your property for more than just short-term stays.

This way, travellers can rent by the month on Airbnb, benefiting from mid-term and long-term rental options.

Renting your property with a mobility lease

The mobility lease allows you to rent your property to individuals in a temporary mobility situation. This includes those in professional training, internships or temporary work assignments. It is not intended for renting to tourists.

Both your main residence and secondary home can be rented under a mobility lease. This lease lasts from 1 to 10 months, but cannot exceed this duration. It is important to note that you cannot renew a mobility lease for the same tenant.

Renting your property with a civil lease

In some cities like Paris, the mobility lease is subject to rent control to prevent abuse.

In such cases, you can implement a civil lease with a mandatory minimum duration of 3 months. This way, you are no longer subject to rent caps.

RentalReady, the perfect solution for managing your short/mid-term rental property

Are you considering this option and interested in trying out mid-term rentals on Airbnb? You’ve come to the right place.

At RentalReady, we provide a solution that meets the needs of those looking to transition to mid-term rentals or incorporate them into their business strategy.

A useful tool for those wanting to venture into mid-term rentals

Transitioning to mid-term rentals when you’re used to renting exclusively on a short-term basis isn’t too difficult. It just requires having the right tools and getting organised, especially when it comes to managing periods dedicated to mid-term rentals, such as the low season.

With RentalReady, you have a comprehensive solution that allows you to store your contracts, track your payments, and manage your properties whether they’re rented short-term in the summer or mid-term during slower periods like winter by the sea.

On a single interface, you can store your contracts and all necessary documents for each mid-term rental agreement. We even offer an alert system if any elements are missing. Ingenious, right?

By choosing RentalReady, you can effectively manage “hybrid” properties. You can set up check-out and check-in tasks with agents for reservations longer than a certain number of days (between 27 and 31 days, depending on local regulations). Additionally, you can implement specific security deposits, opt for dedicated cleaning services, and more.

As for pricing, it is differentiated between short-term and mid-term rentals. This ensures clear pricing for both you and your guests. The commission for property owners varies depending on the rental duration.

Simplified payments

Some property owners or property managers are reluctant to switch to mid-term rentals on Airbnb due to concerns about payment reliability from guests.

At RentalReady, we address this by implementing a payment link with monthly payments for both the owner and the guest. The collection of the monthly payment is then automated, simplifying the process and making it seamless and worry-free.

Book a demo with RentalReady

After reading this article, are you tempted to try mid-term rentals? Don’t hesitate to book a demo with one of our experts to learn more about our solution!