Tiny Midterm Rental Flip
- Quinn Coats
- Jul 19, 2024
- 3 min read
Flipping a Small House for a Medium-Term Rental
These are photos and details from one of my recent small house renovations.
Here is the before and after of the lounge and kitchen:
Flipping a small house for a medium-term rental can be a great income opportunity. Whether you're targeting traveling professionals, digital nomads, or families in transition, a well-designed space can make all the difference. Here's how you can transform a modest property into a sought-after rental, and why enlisting the help of an interior designer like me can elevate the entire process.
The Benefits of Medium-Term Rentals
Medium-term rentals, typically ranging from one to six months, offer a unique blend of stability and flexibility. They attract tenants who need more than a short vacation stay but aren't ready for a long-term commitment. This market can provide consistent income while allowing for periodic updates and maintenance. It also takes the pressure off finding someone to manage the property and someone else to preform repeated cleanings.
Steps to Flip a Small House
1. **Assess the Property**: Start with a thorough inspection to identify any structural issues or necessary repairs. This will help you budget accurately and avoid unexpected costs down the line.
Sadly, the property needed all new flooring, and because of that there also needed to be a large amount of leveling done before new floors could be laid. Otherwise, the bones of the house were great and ready to renovate.
2. **Plan the Layout**: Small spaces require smart planning. Consider open floor plans, multifunctional furniture, and clever storage solutions to maximize the available space.
This home had four decent sized rooms: two bedrooms and a lounge and kitchen. However, there was no current dining room space. I was able to transform the laundry room into a small dining room and add stackable washer/dryer in the mudroom. Both rooms look like they were always meant to be that way.
Before: Large Laundry Room After: Designated Dining Room
3. **Renovate Wisely**: Focus on high-impact areas like the kitchen and bathroom. Modern fixtures, energy-efficient appliances, and quality finishes can significantly increase the property's appeal and value.
Many flippers can't see past the same fixtures and finishes that they have always chosen, which is why most flipped homes all look the same. Finding special light fixtures and unique tile and hardware makes a renovation intentional and more than just a quick flip.
4. **Add Curb Appeal**: First impressions matter. A fresh coat of paint, well-maintained landscaping, and inviting entryways can attract potential renters from the moment they arrive.
I was able to add curb appeal with new plants in front of the home to give the home a loved and well cared for look.
Before After
The Magic of Interior Design
A beautifully designed interior can transform a simple house into a stunning rental that stands out in a competitive market. Here are some benefits of using an interior designer:
1. **Aesthetic Appeal**: I love to create a cohesive and visually appealing space that resonates with potential renters. From color schemes to furniture selection, bringing this all together can help make people feel at home.
2. **Functionality**: Designers understand how to make the most of small spaces. I optimize the layout to ensure every square foot is used effectively, making the home comfortable and practical for medium-term stays. Every square foot was utilized: from a functional kitchen to a designated dining room, and an office space.
3. **Unique Touches**: Creativity can introduce unique elements that set the rental apart. Whether it's a statement piece of art, custom-built furniture, or innovative lighting solutions, these details can leave a lasting impression.
4. **Increased Value**: A well-designed property can command higher rental rates and attract quality tenants. Interior Designer expertise can turn a modest investment into a profit.
If you are looking for someone to work with you for a little advice or to design your next project from top to bottom, I would love to partner with you. It's what I love to do.
Cheers,
Quinn
Construction Team: Elmer Sarmiento- elmersarmiento913@gmail.com
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