What is a mid-term rental property?
The so-called medium-term rental of a property usually covers period from 1 to 6 months. This type of rental is positioned between short-term rentals, which are often for a few days or weeks, and long-term contracts, which usually exceed a year. A mid-term rental offers flexibility for both tenants and property owners, usually including furnished accommodation with all basic amenities.
Who are the main type of tenants of this type of tenancy
The main groups that choose a medium-term rental in Bulgaria include:
- digital nomads – this type of rental is ideal for telecommuters who want to combine work and travel. Sofia, Plovdiv and coastal cities such as Varna and Burgas are particularly attractive to them;
- foreigners in temporary work – many international companies send employees on temporary projects that require residence of several months;
- foreigners in temporary work – many international companies send employees on temporary projects that require residence of several months;
- people in the process of moving – these are tenants who are looking for a new home or are staying temporarily while their current home is being renovated.
What is the income that can be generated from a medium term rental property
As strange as it sounds, a medium-term lease can offer a higher yield than a long-term lease. Income is determined by several factors:
- location - properties in the central parts of Bulgarian cities or in tourist areas can bring significantly higher income;
- seasonality – for example, in the Black Sea cities, demand may be higher in spring and summer;
- amenities – well-furnished properties with bills and internet included attract more customers and allow for higher prices.
Monthly income from medium-term rent in Sofia can reach up to 20-30% more than a standard long-term rental without the frequent costs and effort associated with short-term rentals.
What are the advantages of a mid-term lease?
- more stable income – unlike short-term rentals, which can suffer from seasonal fluctuations, medium-term rentals provide more constant income;
- less effort to manage – frequent changes of tenants in short-term rentals require time and resources. With medium-term rentals, this happens significantly less often;
- higher income from long-term rentals – the rental price per month is often higher than that of standard contracts for more than a year;
- greater flexibility for the owner – if the owner wants to use his property for personal needs, the medium-term lease gives him the opportunity to do so between rental periods;
- target groups – while short-term rentals are popular with tourists and long-term rentals are mostly for locals, medium-term rentals attract temporary visitors with more specific needs;
- contract flexibility – medium-term leases are usually for predetermined but shorter terms and do not require heavy legal commitments like long-term leases.
What extras can be offered to tenants of a medium-term rental property
To attract more tenants, owners can include additional amenities such as:
- fully furnished – including an equipped kitchen and comfortable furniture;
- high speed internet and cable TV – a basic necessity for digital nomads and professionals;
- all accounts included – the convenience of not having to deal with the payment of electricity, water and other services;
- weekly or monthly cleaning – an additional service that is highly appreciated by busy tenants;
- flexible terms - possibility to extend the stay if needed;
- transportation services or airport transfer – especially appreciated by foreign guests.
Medium-term property rental in Bulgaria is a profitable and flexible opportunity for owners. This rental model combines the advantages of short-term and long-term rentals, attracting specific groups of customers and providing stable income with minimal effort. For an individual consultation regarding medium-term rental property, the Flat Manager team is at your disposal - contact us , to get the best guidance from professionals
