As an owner of numerous vacation properties traditionally listed on platforms like Airbnb, VRBO, and Craigslist, I recently embarked on a transformative journey in the rental market. The turning point? My introduction to MiniStays, a unique platform that caters to travelers seeking accommodations for 30 days or longer. This revelation came just in time, as the increasing saturation of short-term rental listings in my city demanded a strategic pivot to maintain profitability.
The Appeal of Mid-Term Rentals
MiniStays allure was its focus on connecting property owners with a niche market of business travelers, primarily serving the constant demand from the medical staffing industry. This included a steady stream of travel nurses in need of comfortable, furnished housing for extended periods. Offering a solution to the high turnover and unpredictable nature of short-term renting, MiniStays showed promise for a more stable and manageable approach to leasing my properties.
Making the Switch
Motivated by the prospect of longer-term tenancies and intrigued by the platform’s unique positioning, I decided to list one of my properties as a trial. Initially, the response was gradual, but it soon surged with inquiries from potential tenants, signaling a robust demand. This direct engagement with travelers and MiniStays search feature, transformed my approach to rental management.
The real game-changer occurred when I welcomed my first travel nurse for a three-month stay, a substantial upgrade from the brief visits I had grown accustomed to. This shift not only relieved the pressure of constant tenant turnover but also aligned perfectly with my preference for longer, more predictable rental agreements. Consequently, I moved to list all my available units on MiniStays, successfully filling each one with travel nurses for extended stays.
Financial Sense and Security
MiniStays, being completely free to list my properties and low cost per-booking service fee has proven economically advantageous, especially for extended stays. For one of my units, the payment comes directly from a staffing company, obviating the need for a credit check—a decision justified by the reliability of company-assisted payments. Nevertheless, for added security and peace of mind, I typically conduct background checks using MiniStays integrated TransUnion’s MySmartMove service, ensuring no history of evictions or significant financial red flags among potential tenants.
A Strategic Realignment
While my properties remain listed on VRBO and Airbnb, MiniStays has become my platform of choice. Catering to travel nurses and other long-term travelers not only offers a more stable revenue stream but also minimizes the operational challenges associated with short-term rentals. This strategic shift towards MiniStays has, without a doubt, been one of the most beneficial moves for my rental business, ushering in a new era of growth and stability.
