The landscape of rental properties is constantly evolving. While traditional long-term rentals (LTR) and short-term rentals (STR) like vacation homes dominate, a growing segment is capturing investor attention: mid-term rentals (MTR). These properties, often furnished, cater to tenants needing flexible stays typically between 30 days and 12 months, such as traveling nurses, corporate transferees, or digital nomads.
Managing these properties effectively, with their higher turnover compared to LTRs but longer stays than STRs, requires specialized tools. This is where mid-term rental property management software comes in. Choosing the right platform can streamline operations, boost profitability, and save valuable time.
For an overview of how mid-term rentals compare to other strategies, see short-term vs long-term rentals.
What is mid-term rental management software?
Mid-term rental management software is a specialized category of property management software designed to handle the unique needs of properties rented for flexible periods, generally falling between traditional short-term vacation rentals and long-term leases. It acts as an extended stay property management system. This software automates tasks specific to managing tenancies that last weeks to several months.
Unlike software focused solely on annual leases or daily/weekly bookings, MTR platforms offer flexibility in lease terms and booking management. They are tailored to the nuances of properties catering to a diverse tenant base needing temporary housing. The core function is to bring efficiency to properties operating in the “monthly rental properties” space.
For more perspective, see how MTRs relate to Airbnb vs renting out.
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Why use mid-term rental management software?
Managing mid-term furnished rentals manually, or with generic spreadsheets, quickly becomes complex. Higher turnover rates compared to LTRs mean more frequent tenant screening, lease signing, move-ins, and move-outs. Without dedicated software, landlords face challenges like tracking flexible lease dates, managing dynamic pricing across various platforms, ensuring timely communication, and consolidating financials.
Using specialized software offers significant advantages. It automates repetitive tasks, reduces errors, and centralizes all property and tenant information. Technology, including automated pricing, guest communication, and expense tracking, is crucial for optimizing MTRs (Perplexity research). MTRs can offer higher occupancy and monthly revenue than traditional long-term rentals, especially when managed efficiently with technology (Perplexity research). Software helps capitalize on this potential, potentially leading to increased occupancy and revenue as seen in some markets.
Must-have features for mid-term rental software
Effective MTR property management relies on software equipped with specific features. These tools go beyond basic rent collection and maintenance tracking.
Key features essential for managing mid-term furnished rentals include:
- Flexible booking & calendar management: The ability to easily set and adjust booking durations that aren’t standard 12-month terms or daily/weekly. A clear visual calendar is crucial for tracking varying move-in and move-out dates.
- Channel manager: Seamless integration with various booking platforms is vital. This includes not only major sites like Airbnb and VRBO (VRBO host requirements), but also platforms specific to mid-term stays like Furnished Finder or CHBO. A good channel manager prevents double bookings and centralizes availability.
- Automated communication: Tools for scheduling messages tailored to the mid-term tenant journey, from booking confirmation to move-out instructions. Efficient communication improves the tenant experience.
- Tenant screening: A robust process suitable for mid-term tenants, balancing speed with thoroughness for stays longer than a vacation but shorter than a typical annual lease.
- Lease agreement customization: The ability to easily generate, customize, and manage digital lease agreements (see rules for renting a room in your house and how to rent a room). This is key for handling the varying lengths of mid-term stays.
- Rent collection & payment processing: Reliable automated rent collection tools capable of handling monthly payments efficiently. Look for features similar to a dedicated rent collection app.
- Maintenance tracking: A system for tenants to submit maintenance requests and for landlords to track repairs, crucial given the higher potential for wear and tear with more frequent turnover than LTRs.
- Financial reporting & accounting: Features for tracking income (such as annual rent) and expenses, categorizing transactions automatically, and generating reports needed for tax purposes (similar to Airbnb accounting). Using a dedicated bank account integrated with the software can significantly simplify financial tracking.
- Dynamic pricing: Tools that help adjust pricing based on demand, season, and length of stay to optimize revenue for stays ranging from 30 days to several months.
Top mid-term rental property management software platforms 2025
As the mtr in real estate market grows, several platforms are emerging or enhancing their features to cater specifically to this niche. While many general property management software platforms exist, some offer stronger capabilities for flexible, furnished rentals.
Platforms often highlighted for their MTR capabilities in 2025 include Hostaway and iGMS. Hostaway is known for its robust channel management and automation suitable for managers handling properties across various booking sites. iGMS also provides strong channel management and operational tools.
Other platforms designed for general property management or STRs may also offer features adaptable for mid-term stays, though they might lack specialized MTR tools like tailored lease flexibility or integration with MTR-specific booking sites. When researching, consider platforms offering specific solutions for medium-term rental management.
A comparison of the top nid-term rental software
Choosing the best software depends on your specific needs, portfolio size, and budget. Here’s a comparison of key aspects for platforms often considered for MTRs.
| Feature / Question | Baselane | Hostaway | iGMS |
|---|---|---|---|
| Target Portfolio Size | Small to Medium (financially focused) | Small to Large | Small to Medium |
| Flexible Booking/Calendar | No (focus on lease-based rentals) | Yes | Yes |
| MTR Platform Integrations | Banking, accounting, and rent collection tools | Some OTA & PMS | Some OTA & PMS |
| Automated Communication | Not messaging-based | Yes | Yes |
| Tenant Screening | Available | Available | Available |
| Lease Customization | Yes | Yes | Yes |
| Rent Collection | ACH & Debit + Auto Reminders | Yes | Yes |
| Maintenance Tracking | No | Yes | Yes |
| Financial Reporting | Built-in cash flow, income, and P&L | Yes | Yes |
| Dynamic Pricing Tools | No (not OTA-based platform) | Yes | Yes |
| Pricing Model | Free Platform (no monthly SaaS fees) | Per unit/month | Per unit/month |
Note: Specific details and platform names beyond those directly identified in the research as MTR-focused would require verification. The table structure is illustrative.
Manual vs software: Why technology wins for MTRs
Attempting to manage mid-term property management using only spreadsheets, calendars, and manual processes is inefficient and prone to errors. The higher frequency of guest turnovers compared to traditional long-term rentals means more manual data entry, more opportunities for scheduling conflicts, and increased administrative burden. Turbotenant highlights challenges like higher vacancy rates compared to LTR and increased management effort.
Software automates tasks like sending booking confirmations, rent reminders, and maintenance updates. It centralizes tenant communication, preventing missed messages. Crucially, it streamlines bookkeeping by automatically logging income and expenses associated with each booking, a significant improvement over manual Airbnb accounting or tracking rental property operating expenses in disparate files.
For anyone serious about scaling their MTR portfolio, moving from a manual process to a dedicated extended stay property management system is essential for efficiency and profitability.
Pros and cons of mid-term rental software
Like any tool, mid-term rental property management software comes with advantages and disadvantages.
Pros:
- Increased efficiency: Automates repetitive tasks like communication, rent collection, and calendar updates.
- Reduced errors: Minimizes risks of double bookings, missed payments, or incorrect lease terms inherent in manual methods.
- Time savings: Frees up landlord or property manager time for strategic tasks or portfolio growth.
- Optimized revenue: Aids in dynamic pricing and prevents vacancies through efficient booking management and channel connectivity.
- Centralized data: Keeps all property, tenant, booking, and financial information in one accessible place.
Cons:
- Cost: Can be a significant expense, especially for landlords with only one or two properties (though options for property management software for small landlords exist).
- Learning curve: Requires time to learn and set up the software effectively.
- Over-reliance on technology: Can create issues if the software experiences downtime or technical glitches.
- Integration challenges: Ensuring seamless connections with all desired booking platforms and other tools might require technical effort.
- Feature overload: Some platforms may have more features than a small landlord needs, complicating usage.
How to pick the right software for your mid-term rentals
Selecting the best mid-term rental software involves assessing your specific portfolio and needs.
Consider these factors when making your choice:
- Portfolio size: If you have just a few properties, a less complex or potentially the best free property management software with strong MTR-adaptable features might suffice. For larger portfolios or multi-family property management, a more robust, scalable platform with advanced automation is necessary.
- Feature needs: Prioritize the features most critical for your MTR operation – is it seamless channel management across specific MTR sites? Flexible lease generation? Detailed financial reporting?
- Budget: Determine what you can afford. Pricing models vary (per unit, tiered, percentage).
- Ease of use: Choose software with an intuitive interface that you and potential team members can easily learn and navigate.
- Customer support: Reliable support is crucial when you encounter issues.
- Scalability: Select a platform that can grow with your portfolio if you plan to expand your mtr in real estate investments. Look for capabilities that support advance property management.
Evaluate several property management software options, perhaps taking advantage of free trials, to see which best fits your workflow. Don’t just look at general property managers software; specifically seek out platforms that highlight features for flexible stays or extended stay property management system capabilities.
Mid-term rental software costs
The cost of mid-term rental property management software varies widely based on the platform, the number of units you manage, and the features you require. Most platforms charge a monthly fee per unit or a tiered price based on the total number of properties.
Average costs can range from $10-$30+ per unit per month for comprehensive platforms, with some offering lower per-unit costs for larger portfolios. Some providers might offer a base price plus a fee per booking or a percentage of the booking value. It’s crucial to compare pricing models carefully and understand what features are included in each tier. For budgeting, consider the cost relative to the potential revenue increase and time savings the software can provide for your Medium Term Rental Management.
Software costs incurred for managing a rental property are generally considered ordinary and necessary business expenses. As such, they may be tax-deductible. Consult with a tax professional for specific advice on how to claim software costs back for your rental business.
Conclusion
The rise of mid-term rentals presents exciting opportunities but also unique management challenges. Dedicated mid-term rental property management software is no longer a luxury but a necessity for optimizing operations, maximizing revenue, and providing a professional experience for tenants.
By carefully evaluating your needs and selecting a platform with the right features, flexible booking, robust channel management, automated communication, and integrated financials, you can transform your MTR business. Investing in the right landlord software streamlines everything from tenant communication to rent collection and accounting.
Simplify the financial complexities of managing multiple rental properties, including MTRs, with a platform designed for landlords.
FAQs
A mid term rental, or MTR, is a furnished property rented for a flexible period, typically ranging from 30 days to 12 months. They cater to tenants needing temporary housing, such as traveling professionals or those relocating.
MTR software offers features tailored to stay between short-term vacation rentals and long-term leases, such as flexible lease terms, specific integrations with MTR booking platforms like Furnished Finder, and communication workflows optimized for mid-length stays.
Some free property management software might offer basic features like rent collection or expense tracking, but they often lack specialized MTR capabilities such as flexible calendar management or channel integration needed for this specific rental type.
Key features include flexible booking/calendar management, robust channel management (including MTR platforms), automated communication, customized lease generation, and integrated financial tracking.
Yes, many platforms offer tiered pricing or features specifically for small portfolios, helping independent landlords manage their MTRs efficiently without needing extensive manual processes.
