What Is Medium-Term Rental?
Medium-term rentals sit in the sweet spot between short-term rentals and traditional long-term leases. You furnish a property, list it on platforms like Furnished Finder and Airbnb (30+ day filter), and rent to tenants who need temporary housing for 1-12 months. The revenue typically runs 50-100% above unfurnished long-term rents. A 3-bedroom house that rents for $1,500/month unfurnished can generate $2,400-$3,000/month as a furnished MTR. The tenant pool is substantial and growing: 1.7 million travel nurses take 13-week assignments across the U.S., plus corporate relocators, insurance-displaced homeowners, grad students, traveling professionals, and digital nomads. Unlike short-term rentals, MTRs face minimal regulatory pushback—most cities regulate stays under 30 days, not above. Unlike long-term leases, MTRs let you adjust rents every 30-90 days and screen tenants more frequently. Furnishing costs run $5,000-$15,000 depending on the property, and the investment typically pays for itself within 3-5 months of the rent premium.
A medium-term rental (MTR) is a furnished property leased for 30-day to 12-month stays, targeting tenants like travel nurses, corporate relocators, and insurance-displaced families.
At a Glance
- Stay length: 30 days to 12 months (most common: 2-4 months)
- Revenue premium: 50-100% above unfurnished long-term rents
- Primary tenant types: Travel nurses (13-week contracts), corporate relocators, insurance claims, grad students, digital nomads
- Key platforms: Furnished Finder, Airbnb (30+ day), CHBO, Zillow (furnished filter)
- Furnishing cost: $5,000-$15,000 per unit depending on size and quality tier
- Regulatory advantage: Most STR regulations exempt stays of 30+ days
How It Works
The revenue math. Take a standard 3-bed/2-bath house in Nashville that rents for $1,800/month unfurnished on a 12-month lease. That same property, furnished with quality basics, rents for $3,200/month to a travel nurse on a 13-week contract through Furnished Finder. Annual revenue comparison: $21,600 (LTR) versus $35,200 (MTR at 92% occupancy, accounting for 1-2 week gaps between tenants). That's $13,600 in additional annual revenue from a one-time $10,000 furnishing investment. Even at 85% occupancy—roughly 10 months rented per year—the MTR generates $32,000 versus the LTR's $21,600.
Furnishing the property. Budget $5,000-$8,000 for a 1-2 bedroom unit and $10,000-$15,000 for a 3+ bedroom house. Essential items: beds with mattresses (invest in quality—tenants notice), sofa, dining table, dresser in each bedroom, full kitchen setup (pots, pans, dishes, utensils, coffee maker), towels and linens, TV with streaming access, washer/dryer, and a basic desk/workspace. Source from IKEA, Wayfair, and Facebook Marketplace for cost-effective quality. Skip luxury items—MTR tenants want functional and clean, not boutique hotel aesthetics.
Platform strategy. Furnished Finder ($149/year flat fee, no booking commissions) is the dominant platform for travel nurse housing. Create a detailed listing with professional photos, highlight proximity to major hospitals, and include WiFi speed (travel nurses need reliable internet for telehealth charting). Airbnb's 30+ day search filter captures corporate travelers and digital nomads. CHBO (Corporate Housing by Owner) targets company-sponsored relocations with higher budgets. List on all three simultaneously—there's no exclusivity requirement.
Lease structure. Use a furnished short-term lease agreement (not a standard 12-month residential lease). Include: furnished inventory list signed by both parties, utility responsibilities (typically included for MTR), early termination terms, pet policy (allowing small pets expands your tenant pool by 40%), and a cleaning fee or move-out cleaning requirement. Month-to-month terms with 30-day notice are standard. For travel nurses on 13-week contracts, match the lease to the contract dates exactly.
Tenant screening. MTR tenants are generally high-quality: travel nurses have verified employment and housing stipends, corporate relocators have employer-backed housing allowances, and insurance-displaced families have adjuster-approved budgets. Still run background and credit checks. Travel nurse staffing agencies (Aya Healthcare, Cross Country, AMN Healthcare) can verify employment and assignment dates directly.
Real-World Example
Monique in San Antonio. Monique owned a 3-bedroom/2-bath house near Brooke Army Medical Center (BAMC) that she'd been renting long-term for $1,400/month. Her tenant of three years moved out in September 2024. Instead of listing for another long-term tenant, she decided to try the MTR strategy.
She spent $11,200 furnishing the property: $3,800 on bedroom furniture and mattresses (queen bed in the master, two twins in the second and third bedrooms), $2,100 on living room furniture, $1,400 on kitchen essentials, $900 on linens and towels, $1,200 on a washer/dryer set, $600 on TVs and a Roku streaming stick, and $1,200 on miscellaneous items (lamps, hangers, shower curtains, a basic tool kit, iron and ironing board).
She listed on Furnished Finder and Airbnb at $2,800/month, utilities included (averaging $220/month). Within 11 days she had a booking: a travel nurse on a 13-week cardiology rotation at BAMC, starting October 15. The nurse's housing stipend from her staffing agency was $2,900/month—Monique's price was well within budget.
After the nurse's contract ended in January, Monique had a 9-day vacancy before a second travel nurse booked a 13-week assignment starting in late January. Her third tenant was a military family PCS'ing (permanent change of station) to nearby Fort Sam Houston who needed 6 weeks of housing while their base quarters were being prepared.
Through her first 12 months of MTR operation, Monique achieved 91% occupancy and averaged $2,750/month in gross rent (she dropped to $2,600 for a slower summer month). Her annual gross: $30,100. Compared to the $16,800 she would have collected at $1,400/month LTR, the MTR strategy generated $13,300 in additional revenue. Her furnishing cost of $11,200 was recouped in 10 months. Net of the utility costs she now covered ($2,640/year), her income increase was $10,660/year—a 63% improvement over long-term renting.
Pros & Cons
- Revenue 50-100% above long-term rents, with the furnishing investment paying for itself in 3-5 months
- Minimal regulatory risk: most STR ordinances exempt stays of 30 days or longer
- High-quality tenant pool: travel nurses, corporate relocators, and military families with verified income sources
- Faster rent adjustments: rents reset every 1-3 months versus annually with long-term leases
- Lower wear and tear than short-term rentals: no weekend party guests, no daily check-ins, no cleaning turnover every 3 days
- Vacancy gaps between tenants (1-2 weeks average) reduce effective occupancy to 85-93% versus 95%+ for long-term leases
- Furnishing costs of $5,000-$15,000 are sunk if you switch back to unfurnished long-term leasing
- More active management than LTR: tenant communications, utility management, cleaning between tenants, and inventory maintenance
- Seasonal demand fluctuations—travel nurse assignments peak October through March; summer can be slower
- Furniture depreciation and replacement: expect to replace mattresses every 3-4 years and upholstered items every 5-6 years
Watch Out
- Utility cost surprises. MTR landlords typically include utilities in the rent. A tenant running AC at 68 degrees in a Phoenix summer can generate $400+ electric bills. Cap utility usage in your lease ("Landlord covers up to $250/month in electricity; tenant responsible for excess") or price utilities into your rent with a buffer.
- Furnishing quality matters. Cheap mattresses and flimsy furniture generate bad reviews and tenant complaints. Invest in mid-range quality: a $600 queen mattress, not a $200 one. Your reviews on Furnished Finder and Airbnb are your marketing engine—one "uncomfortable bed" review costs you multiple bookings.
- Insurance coverage. Standard landlord policies may not cover furnished rental contents. Add an inland marine or business personal property rider to cover your furnishings ($50-$100/year in additional premium for $15,000 in coverage). Also verify your policy covers MTR stays, as some policies treat stays under 6 months as commercial activity.
- Tenant length screening. A 30-day tenant creates 12 turnovers per year versus 4 for a 90-day tenant. Prioritize 60-90+ day bookings to minimize turnover costs ($150-$300 per cleaning) and vacancy days. Set a 60-day minimum stay on platforms if you prefer less turnover.
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The Takeaway
Medium-term rentals offer the best risk-adjusted return in residential real estate: 50-100% more revenue than long-term leasing, none of the regulatory headaches of short-term rentals, and a deep tenant pool of travel nurses, corporate relocators, and military families with verified income. The $5,000-$15,000 furnishing investment pays for itself within the first booking cycle. List on Furnished Finder, Airbnb 30+, and CHBO simultaneously. If you own a property near a major hospital, military base, corporate headquarters, or university, the MTR strategy should be your default—you're leaving $10,000-$15,000 per year on the table by renting unfurnished.