Mid-term rentals usually earn less gross than a busy Airbnb and more net than most owners expect. Industry data suggests furnished 30+ day stays capture roughly 70–85% of short-term gross revenue at 40–60% of the cost. In the City of LA, an investment property can't legally run as a nightly rental at all, so the real comparison is mid-term versus a 12-month lease. Here's how we ran the numbers on one of our own units.
What changes when you switch
Three things move at once:
| Nightly rental | Furnished 30+ days | |
|---|---|---|
| Rate per night | Full nightly rate | About 46% lower on average |
| Occupancy | About 57% (2026 U.S. forecast) | 70–95% |
| Turnovers per year | 30–60+ | 3–6 |
Case study: a Westwood 1-bedroom
The unit: a typical furnished 1-bedroom, 1-bath apartment of about 650 sq ft in Westwood, roughly half a mile from Ronald Reagan UCLA Medical Center. These are estimates from 2026 market data.
| Line item (annual) | Nightly rental* | Furnished 30+ day rental | Unfurnished 12-month lease |
|---|---|---|---|
| Average rate | $230/night | $4,000/month, utilities included | $2,900/month |
| Occupancy | 48% (175 nights) | 85% | 96% (about 2 weeks vacant) |
| Gross rent | $40,250 | $40,800 | $33,408 |
| Platform / listing fees | ~$1,210 (about a 3% host fee) | $0 (free-to-list platform) | $0 |
| Turnovers per year | ~39 (4.5-night average stay) | 4 | ~1 |
| Cleaning and turnover cost | $4,680 ($120 per turnover) | $1,800 (4 turnovers + monthly mid-stay cleans) | $150 |
| Utilities and internet | $3,000 | $3,000 | $0 (tenant pays) |
| Supplies, linens, wear | $1,800 | $900 | $0 |
| City fees and permits | $1,922 (home-sharing registrations + $3.42/night fee) | ~$75 (LAHD registration) | ~$75 (LAHD registration) |
| Net before mortgage and taxes | ~$27,640 | ~$35,025 | ~$33,183 |
| Hours per month managing it | ~20 | ~6 | ~2 |
*Nightly is only legal in the City of LA if the unit is your primary residence, and 175 nights would also need an Extended Home-Sharing registration. It's shown here for comparison.
What the numbers say:
- Nightly is the weakest option in Westwood. Short-term demand there is soft, so mid-term matches it on gross and beats it by about $7,400 a year on net, with roughly a third of the work.
- The real race is against a 12-month lease. Mid-term comes out about $1,800 a year ahead in this example. The break-even is roughly $3,800 a month at 85% occupancy. Below that, or with long gaps between stays, the 12-month lease wins.
- Occupancy matters more than the headline rate. Each empty month costs about $4,000, so keeping the gaps between stays short is what makes mid-term pay.
Estimates based on furnished 1-bedrooms near UCLA at $2,900–$4,000 a month (Tripalink), unfurnished Westwood 1-bedrooms around $2,889 a month (Apartments.com), Westwood Airbnb occupancy of 48% (AirDNA), a 4.5-night average stay (AirROI), and LA home-sharing fees (LA City Planning). Your numbers will differ.
Run it for your own place
Use these formulas with your own numbers:
- Mid-term gross = monthly rate × 12 × expected occupancy
- Turnover cost = (cleaning + restock per turnover) × turnovers per year
- Net = gross − platform fees − turnover cost − utilities − supplies and wear − city fees
Then compare against a realistic 12-month lease for the same unit, unfurnished. If furnished mid-term doesn't clear the long-term lease by enough to cover furniture and your time, a 12-month lease may be the better call. Be honest about that.
Costs people forget
- Gaps between stays. Mid-term guests book weeks ahead and often extend, but plan for some vacant days.
- Utilities. Most mid-term guests expect them included. Put a monthly cap in the lease.
- Mid-stay cleaning. A monthly clean doubles as an inspection.
- Tenant rules. A 30+ day guest in LA is a tenant, with protections that can attach before you expect. Read If I Rent My LA Place Furnished for 3 Months, Can My Tenant Refuse to Leave? before your first stay.
One low-cost way to test monthly demand is a platform that doesn't charge owners to list. Try it out by listing on Keyseason.