Real estate investors say mid-term rentals are the 'sweet spot,' offering a way around Airbnb red tape and more cash flow than long-term rentals
When the COVID pandemic erased virtually all of Zeona McIntyre's Airbnb bookings, she found a solution in mid-term rentals.
"I was really open to doing whatever I needed to get my properties rented," the Colorado-based property investor told Business Insider. She started listing her properties on Furnished Finder, which is geared toward traveling professionals and specializes in 30-day plus stays, and was surprised by the hit rate and relative ease of the process.
"I realized there are tons of people looking all the time for longer stays — and longer stays are kind of awesome because people don't need as much from you. They're OK to go buy their own toilet paper and change the batteries because they're living there."
What started as an attempt to combat Airbnb vacancies evolved into her preferred rental strategy.
"My bread-and-butter is these mid-term rentals," said McIntyre, who is the author of " 30-Day Stay." "I want a longer tenant in there, and I don't want to have to think about it for three months."
Massachusetts-based investor Dana Bull also pivoted to mid-term rentals, but for a different reason: to withstand rising interest rates. The average 30-year fixed mortgage rate surged to 8% in 2023 and lingered in the 6s and 7s in 2024. Higher interest rates mean higher monthly payments, which can eat into an investor's cash flow.
Bull has been renting to long-term tenants for more than a decade, but to make the numbers work on her most recent acquisition, a charming single-family home she found in 2023 and couldn't pass up, she turned to mid-term rentals, which she says are more time-intensive, but also more profitable.
The 'sweet spot' of rentals
Real estate investors tend to agree that, while long-term rentals can produce consistent, relatively passive income, these leases generate less revenue a month compared to short-term rentals.
However, short-term rental properties present unique challenges, such as constant tenant turnover, managing multiple bookings, and ever-evolving country-specific rules and regulations.
Then, there are mid-term rentals — or, the "sweet spot" of real-estate investing, according to McIntyre — which are properties listed for longer than 30 days but less than a year. In her experience, they're "a whole different vibe from short-term rentals and way less stressful."
One major stressor she faced in hosting on Airbnb and VRBO was the evolving rules around permits and licenses.
"Short-term rentals have been under scrutiny, and the ever-tightening regulations are constantly changing," she said. "But there is sort of this magic number that, as soon as a listing is over 30 days, these rentals get classified into a long-term rental bucket and then you don't have the extra taxes or have to have a short-term rental permit."
That was a contributing factor in Manny Reyna's decision to incorporate mid-term rentals into his overall strategy.
"Within San Antonio, you need an STR permit through the city," said Reyna, who rents two single-family homes and two tiny homes in the San Antonio metro. "The permit is $450 just to apply, and you have to pay county taxes and city taxes on the revenue. It's called a hotel tax, and it's really high."
However, if you're listing a 30-day stay, "you don't necessarily have to worry about the STR taxes," said Reyna. "It's a little bit of a loophole, if you will. It's also a good middle ground, because the cash flow is higher than long-term rentals."
That said, hosting mid-term stays will require upfront work. You're catering to a completely different customer, and leasing can be a challenge because mid-term rentals are less mainstream, explained Bull. "If you want a long-term rental, you know you're going to be on Zillow or work with a real-estate agent. If you want a short-term rental, you also have set channels: You have Airbnb, Vrbo."
The equivalent for mid-term rentals is Furnished Finder, "but it's not very well known, and it's not nearly as big as something like Airbnb," she said.
A hybrid approach
While Reyna prefers mid-term tenants, he wants to cater to a broad customer base and still lists his properties on Airbnb, VRBO, Hipcamp, and Facebook Marketplace when there's a gap between mid-term tenants.
"I try to do a shotgun approach to see who's going to bite first," he said.
Seattle-based investor Peter Keane-Rivera also uses a hybrid model for his 70s-themed " Groovy Guest House," which he initially listed exclusively as a short-term vacation rental.
He enjoys the work that goes into managing a short-term rental — "it does allow you to provide a unique service and really to have control over the quality of that service," he said — but offering 30-plus day stays will generate more consistent revenue during the slow season when people are traveling less.
"In the summertime, it pulls in a lot — in June and July, I made almost $5,000 on a one-bedroom in the outskirts of Seattle," he said, referring to the Airbnb income. "But in the wintertime, there are lower margins. I'd rather get something closer to market rent rates, not have to worry about it for four to five months during the slowest seasons, and then spin it back up for spring, summer, and fall to maximize the return."
Toggling between short- and mid-term rentals is "a real asset," he said, adding that if he expands to a second Airbnb unit, he'd use the same strategy. "For eight months out of the year, I'd run it as an Airbnb and then during the low season, run it as a mid-term rental."
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In May 2020, Golderesi purchased a three-bedroom home in East Springfield for about $250,000. A U.S. Department of Veterans Affairs program helped him buy the house, he said. Last year, he put it on the market, but decided he was not ready to sell. In July 2024, a fire broke out at the house. The city fire department responded and investigated but never determined a cause. Because of damage, including a missing window, open ceiling and damaged electrical outlets, the city condemned the building; only construction workers were allowed inside to bring it back up to code. Golderesi said that at a neighbor's recommendation, he hired Worthington Construction, a company run by Anthony Matos, to repair fire damage. Both Bartley and Golderesi agreed that Matos, the owner of Worthington Construction, brought them together. On Aug. 5, Golderesi signed a limited durable power of attorney giving Bartley the power to 'do all things necessary' related to the property at 35 Pinta Circle. Bartley said it would violate attorney-client privilege to disclose why the document was needed, but he says Golderesi wanted to sell the house. Golderesi said he told Bartley he suffered from a brain injury and didn't want to sign the papers without his personal care assistant, Julia Stratton, who also often lives with him. She was out of town. Golderesi said he was concerned if he didn't sign the paperwork, it would delay the rehab of his house. So he signed them, but told The Republican that he didn't understand what the papers meant. If he had understood it was a power of attorney form, 'I would have never signed it,' he said. 'That's completely untruthful,' Bartley said. He said Golderesi knew what he was signing. At times during initial interviews with The Republican, Bartley said he was limited as to what he could say because of attorney-client privilege, which protects communication between a lawyer and client. At The Republican's suggestion, Golderesi wrote and signed an agreement allowing Bartley to speak freely about him and the property on Pinta Circle. More than 20 years ago, Matos was one of many people in the city arrested for involvement in a land-flipping scheme that involved derelict properties and low-income people. In 2006, Matos pled guilty to wire fraud charges and spent years in prison. Authorities estimated that the scheme cheated banks and homebuyers of $15 million, a Springfield Republican article at the time said. Matos said he was young then, has changed and has not been in legal trouble since. 'This guy hired me to do the work and fix the damage that the insurance company paid for and that's what I did,' Matos said. But he has had trouble in civil court in recent years. A construction supply company sued Matos and his company last year alleging he purchased supplies on credit that remained unpaid. Matos didn't respond to the lawsuit and the court issued a judgement of $44,000 against him in November. Today, a separate lawsuit against his company remains in arbitration. A Springfield woman alleges that after a fire destroyed her house on Prospect Street in 2022, she hired Matos to rebuild it. She paid $400,000, which she alleges he urged her pay in cash. The house was not finished by the contracted deadline, the lawsuit claims. 'The only services rendered to date consist of rough framing and a roof,' says the complaint, filed in May 2023. The plaintiff was stuck living in a studio apartment with her two sons. In his legal response, Matos admits the woman paid him but denies her allegations. Earlier this year, in a third lawsuit, the court issued a $20,000 judgement against him after a building supply company sued over unpaid debts. The same day Golderesi signed the power of attorney form, he also signed a purchase and sale agreement for his house. He said it was one of the documents he didn't understand. The agreement stipulated a contract to sell the property to an entity called Empire One Investments LLC, or that company's designee, for $285,000. In corporate filings with the state, Bartley is listed as the secretary and a director of Empire One Investments. When first asked about the extent of his involvement in the Empire One, Bartley said the company's mail just comes to his office. Soon after, Bartley ended the phone conversation with a reporter. Bartley called The Republican back that afternoon. 'I just didn't recall it,' he said of being identified in official state paperwork as a director of the company. He insisted that his involvement in the company — whose president is listed as John Friberg Jr. — is limited. 'This is a case where I was asked to help out clients and I did it to the best of my ability,' Bartley said. 'I can assure you I made no money on this. It was not nefarious.' The purchase and sale agreement also lists Bartley as the buyer's attorney. He said he isn't sure if there were ethical issues for an attorney to be on both ends of the deal. 'I guess I'll leave that for somebody smarter than me,' Bartley said. 'I'd have to think about that one. That's a fair question.' An attorney can represent both sides of a property transaction if there is consent from both parties, according to Jeremy Paul, a professor and former dean at Northeastern University School of Law. After the fire left 35 Pinta Circle condemned, Golderesi and Stratton said they bounced around hotels while waiting for the contractors to finish their work. They said they expected to move back into the house. In February, when repairs were complete, the city lifted the condemnation and filed court paperwork to dismiss the case. Housing court records show that after the power of attorney form was signed, Bartley signed court documents on Golderesi's behalf. Ten days after the housing court case was cleared, the property changed hands, at least on paper. Bartley signed a quitclaim deed — a simple document that transfers property between parties — on behalf of Golderesi as his power of attorney, purportedly selling the house for $285,000 to 35 Pinta Circle Realty Trust. It was notarized by Marc J. Hickey. In a text message to Tatoian, Bartley said Hickey was his assistant. When The Republican asked Bartley, he said Hickey has never worked for him and is a friend. Efforts to reach Hickey were not successful. Jason Vazquez is listed on the deed as the sole trustee of 35 Pinta Circle Realty Trust. A document filed with the Hampden County Registry of Deeds says he has authorization to buy and sell properties for the trust and its beneficiaries. He could not be located for an interview. The purchase and sale agreement Golderesi signed in August 2024 was to sell to Empire or its designee, and the trust is the designee, Bartley said. Bartley said he doesn't 'to my knowledge' believe he is involved in the private trust. Golderesi was not notified about the sale, Bartley said. 'First of all, George never reached out to me.' He said George was 'completely incommunicado.' But, Golderesi had been in touch with the contractor. Texts between him and Matos show that Golderesi had contacted Matos in January and late February, both before and after the sale. The Republican reviewed those messages. In late March, Golderesi said he believed his home was still being fixed and he went to the house looking for mail, he said. He noticed someone inside and called the police to report a break-in. 'Caller states he hears a female voice inside his house,' the 911 narrative reads. 'Caller is outside … states whoever it is turned the lights off.' A police spokesperson said an officer responded to the call, but no formal report was filed about it. Stratton, Golderesi's personal care assistant, said she went in search of answers. She called the city water department to check on the status of the property's account and was told it was no longer in Golderesi's name — and that the property had sold. 'It was devastating,' she said. Once he learned it had been sold, Golderesi hired Tatoian, the attorney, who contacted Bartley in April. After hearing from Tatoian, Bartley sent Tatoian a settlement statement signed in February that summarizes the purported finances of the sale. Tatoian provided a copy of the document to The Republican. The document, signed by Bartley on Golderesi's behalf, said Golderesi was owed $43,000. In the years Golderesi owned it, he built up equity in the property. The document also said that the mortgage was paid. That was not true. Tatoian said he spoke with Golderesi's lender, Navy Federal Credit Union, which told him the mortgage had not been paid off. The bank did not respond to The Republican's requests for comment. Tatoian said the numbers on the settlement were incorrect. 'He's right,' Bartley said. 'I agree with him.' Bartley said the mortgage was not paid off then for valid business reasons. After Tatoian spoke with Bartley, Golderesi was paid back about $40,000. By late April, Golderesi was released from his mortgage with the credit union, documentation filed with the Hampden County Registry of Deeds shows. The quitclaim deed filed in February allegedly without Golderesi's knowledge said that the property was transferred for $285,000. When The Republican first asked Bartley where the $285,000 went in the nearly two-month period between the property transfer in February and April when Tatoian got involved, Bartley declined to comment. About a week later, when pressed, Bartley said that no money was paid. 'There was no money transferred whatsoever,' Bartley said. That's despite the deed saying it was transferred for $285,000 to a trust, and an addendum on the document that said Bartley swore to the notary it was accurate. Bartley told The Republican that the plan was to sell the house and that the contractor and Empire One Investments would be the ones to benefit from it. Bartley insisted he would not reap any of that profit and that he often works with house flippers. Bartley said after selling the house to an outside party, the mortgage and Golderesi would be paid. The plan went awry when they didn't immediately find a third party to buy it. Bartley made those comments in late May after The Republican had spoken to Matos earlier in the month. The Republican tried several times to follow-up with Matos to ask about the plan Bartley laid out, and he had not responded as of Friday. 'In a best practice world it would have been one step after the other,' Bartley said with a sigh, 'except all this stuff moved too fast and here we are. This is an unusual situation for me.' Bartley said he executed a quitclaim deed transfer once the house was no longer condemned to get the property out of Golderesi's control. 'It was my opinion he wasn't in a great position to hold on to any money,' Bartley said of Golderesi. He declined to elaborate. Bartley said he didn't want to list the sale for $1, because he worried it would 'raise an alarm for the third-party buyer.' So he signed the quitclaim deed for $285,000. That was the amount listed on the purchase and sale agreement signed in early August, one of the documents Golderesi says he didn't understand. After being confronted by Tatoian, Bartley said he personally paid Golderesi and settled his mortgage, and will be made whole when a third party buys the property. 'The real loser of this has been me,' he said. Golderesi was paid on April 11, Tatoian said. On April 14, the house was transferred to another private trust — Pinta Empire Realty Trust — for $305,000. The trustee is listed as Jenal Rentas. Rentas owns Extremely Clean Construction and Design, a Springfield-based business that does home improvement, construction and remodeling. Rentas said he was a manager of the trust. 'I know nothing, I'm just a manager on the account,' he said in early June. 'I can't disclose any information.' He told The Republican to contact Matos, who has not responded to follow-up inquiries. When asked about the price listed on the quitclaim deed – $305,000 – and who owns the property now, Rentas said he didn't know and hung up. When property is transferred to or from a trust, those involved usually file a document that certifies a trustee, essentially someone who manages the trust, said Laura Marino, Land Court technical assistant at the Hampden County Registry of Deeds. 'Trusts are not required to be recorded with our office,' Marino said in an email. 'Many people do not record Trusts because they want the terms to remain private.' Tatoian said he submitted a complaint last month to the Massachusetts Board of Bar Overseers about Bartley's conduct, accusing him of violating the state's rules of professional conduct for attorneys and a federal law on making false statements. Bartley has long been the Ward 3 city councilor. He has not yet taken out papers to run again for office in the fall. The deadline to return nomination papers is July 29. Several other people took out papers to run in his ward. Tatoian said he was recently notified by the Board of Bar Overseers that it was investigating. Bartley said he had no knowledge of any inquiry. A spokesperson for the board said that by law, it can't comment on any complaints unless an investigation yields a public proceeding and discipline. Bartley remains listed on the bar's website as an active attorney with no public discipline. Read the original article on MassLive.
