Real Estate

Property Management for medium-term rental

  • Last Updated:
  • Feb 17th, 2019 5:44 pm
[OP]
Newbie
Jan 8, 2011
47 posts
38 upvotes
Ottawa

Property Management for medium-term rental

Does anyone have experience hiring a management company to rent out and look after their condo for 6 to 12 months? Any advice or good/bad experiences? Where do they get their pool of medium-term tenants from? How does furnishing etc work?
5 replies
Jr. Member
Jul 26, 2015
184 posts
102 upvotes
Vancouver, BC
SWilliams2 wrote:
Feb 15th, 2019 7:59 pm
Does anyone have experience hiring a management company to rent out and look after their condo for 6 to 12 months? Any advice or good/bad experiences? Where do they get their pool of medium-term tenants from? How does furnishing etc work?
There is no difference compared to long term.
You pay for tenant placement then you pay the property management fee.
[OP]
Newbie
Jan 8, 2011
47 posts
38 upvotes
Ottawa
Sam286 wrote:
Feb 16th, 2019 10:58 pm
There is no difference compared to long term.
You pay for tenant placement then you pay the property management fee.
Thanks - so if the condo is unfurnished, the tenant would furnish it for only 6 months?
Jr. Member
Jul 26, 2015
184 posts
102 upvotes
Vancouver, BC
SWilliams2 wrote:
Feb 17th, 2019 12:13 pm
Thanks - so if the condo is unfurnished, the tenant would furnish it for only 6 months?
A possible tenant will be likely someone who needs to rent a property for short term only.
Potential candidates:
1. Looking to relocate to another city in several months.
2. Waiting for their presale condo to get finished.
3. Looking to purchase a property.
4. Just sold their place and didn’t find a new one to buy yet.
Etc... etc...

People who need a temporary place to stay :)
[OP]
Newbie
Jan 8, 2011
47 posts
38 upvotes
Ottawa
Sam286 wrote:
Feb 17th, 2019 12:33 pm
A possible tenant will be likely someone who needs to rent a property for short term only.
Potential candidates:
1. Looking to relocate to another city in several months.
2. Waiting for their presale condo to get finished.
3. Looking to purchase a property.
4. Just sold their place and didn’t find a new one to buy yet.
Etc... etc...

People who need a temporary place to stay :)
But my problem is the condo I have is unfurnished. I don't want to spend thousands of dollars to furnish is myself but a shorter-term renter may not want to furnish it for a 6 month stay.
Jr. Member
Jul 26, 2015
184 posts
102 upvotes
Vancouver, BC
SWilliams2 wrote:
Feb 17th, 2019 2:05 pm
But my problem is the condo I have is unfurnished. I don't want to spend thousands of dollars to furnish is myself but a shorter-term renter may not want to furnish it for a 6 month stay.
A lot of tenants already have their furniture from their own house or previous rental. IKEA is also quite cheap. So it shouldn’t be a big obstacle. Everything also depend on the price you’ll be asking for your unit.
Find a reputable property management company, they’ll deal with everything. You can also find a tenant yourself if you don’t mind the hassle of showing, screening and dealing with issues that may arise during tenancy. Put a post on Craigslist or Kijiji and wait for epeople to email you.
If someone is looking for 6 months rental they’ll jump on it. Most landlords require 1 year lease minimum.

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