Oklahoma City’s thriving real estate market presents a unique opportunity for investors to capitalize on mid-term rentals. This type of rental offers a flexible lease term between 30 days and six months, catering to a diverse range of tenants. From corporate professionals to students and those undergoing home renovations, mid-term rentals provide a convenient and temporary housing solution.

Understanding the Mid-Term Rental Market in OKC

According to a recent study by Easy Street Captial, Oklahoma City’s thriving real estate market offers a unique opportunity for investors to capitalize on mid-term rentals. Similar to trends seen across the nation, the demand for these flexible housing solutions is steadily increasing. This growth can be attributed to several factors, including:

• Traveling professionals: Many professionals require temporary housing for work projects, conferences, or short-term assignments.
• Seasonal workers: Industries like construction, healthcare, and hospitality often rely on seasonal workers who benefit from mid-term rentals.
• Relocating individuals or families: Those transitioning to Oklahoma City might require temporary housing while searching for a permanent home.
• Students: Students seeking internships, studying abroad, or needing temporary housing during the academic year can find suitable options in mid-term rentals.
• Vacation rentals: While not the primary focus, some flexibility can cater to longer vacation stays.

Oklahoma City’s expanding economy, influx of new residents, and increasing popularity of corporate relocation programs further contribute to the rising demand for mid-term rentals.

Benefits of Investing in Mid-Term Rentals in OKC

• Higher Rental Income: Mid-term rentals typically command higher rental rates compared to long-term leases, offering investors the potential for greater returns.
• Flexible Leases: These rentals offer flexibility for both landlords and tenants. Shorter lease terms can be advantageous for investors seeking to maximize their rental income during peak seasons or accommodate specific tenant needs.
• Lower Vacancy Rates: Mid-term rentals often have lower vacancy rates compared to traditional long-term leases, ensuring a consistent income stream.
• Diverse Tenant Pool: Mid-term rentals attract a broader range of tenants, including corporate professionals, students, and individuals undergoing home renovations. This diversity can contribute to a steady stream of rental income.

Popular Neighborhoods for Mid-Term Rentals in OKC

• Downtown OKC: This vibrant area offers proximity to businesses, entertainment, and dining options.
• Bricktown: Known for its historic district and entertainment venues, Bricktown attracts corporate travelers and tourists.
• Penn Square: This upscale neighborhood is home to high-rise apartments and luxury amenities, making it a popular choice for professionals and families.
• Medical District: For those working in the healthcare industry, the Medical District offers convenient access to hospitals and clinics.
• University District: If targeting students or faculty, consider neighborhoods near Oklahoma City University or the University of Oklahoma Health Sciences Center.

Finding the Right Mid-Term Rental Property in OKC

• Online Marketplaces: Utilize popular platforms like Zillow, Apartments.com, and Rent.com to search for mid-term rental listings in OKC.
• Local Real Estate Agents: Connect with real estate agents specializing in mid-term rentals to access off-market listings and get personalized guidance.
• Networking: Attend industry events or connect with other property investors to learn about potential opportunities.

Essential Considerations for Mid-Term Rental Investors

• Furnished or Unfurnished: Decide whether to offer furnished or unfurnished units based on your target market and local demand.
• Lease Terms: Establish flexible lease terms to accommodate various needs. Consider options like month-to-month or quarterly leases.
• Amenities: Offer amenities that appeal to your target market, such as high-speed internet, a dedicated workspace, or on-site laundry facilities.
• Property Management: Consider hiring a professional property management company to handle tenant screening, rent collection, and maintenance.
• Local Regulations: Familiarize yourself with local regulations regarding mid-term rentals to ensure compliance.

Conclusion

Ready to make an informed decision about mid-term vs. short-term rentals in Oklahoma City? Our team of experienced property managers can provide expert guidance tailored to your specific needs and investment goals. Contact us today for a free consultation and take the first step towards maximizing your rental property returns in Oklahoma City.