The Ultimate House Hack with Karen Lombardo – 700 Sqft ADU & 3 Master Suites Exclusively on Furnished Finder
Welcome to another episode recap of The Landlord Diaries, your go-to podcast for all things real estate and midterm rentals! Hosted by industry experts Kelly Bailey and Katie Lyon, this episode takes a deep dive into the world of midterm rental success with special guest Karen Lombardo, a savvy investor who’s redefining the rental experience with her unique approach to midterm housing. Sponsored by Furnished Finder, this episode explores house hacking and how Karen has leveraged creativity and hospitality to build a thriving midterm rental business.
From Long-Term Rentals to Midterm Rentals
Karen Lombardo, a seasoned real estate investor, has transitioned from managing traditional long-term rentals to becoming a pro at midterm rentals. She’s currently managing three active listings on Furnished Finder, including a 700 sqft ADU (Accessory Dwelling Unit) and two midterm rental condos. Her journey to midterm rentals started unexpectedly after a chance meeting with a traveling nurse at a local restaurant. This encounter opened her eyes to the lucrative opportunities that midterm rentals could offer.
Karen's Real Estate Portfolio:
- 700 sqft ADU featuring 3 master suites designed to maximize space and comfort.
- Two well-appointed midterm rental condos catering to healthcare professionals and other traveling professionals.
This episode highlights Karen’s creative strategies for setting herself apart in the competitive midterm rental market, all while offering valuable insights on how to stand out on platforms like Furnished Finder.
Creative Strategies for Midterm Rentals
Karen’s philosophy on midterm rentals is simple: create an exceptional guest experience. She treats her rental properties like high-end hotels, focusing on attention to detail and guest satisfaction. Some of her standout strategies include:
1. Quality Furnishings: Karen ensures her properties feature comfortable mattresses, luxury sheets, and blackout shades to provide an elevated level of comfort. By investing in these key items, Karen makes sure her guests feel at home—whether they’re staying for a few weeks or a few months.
2. Personal Touches for a Unique Experience: Karen goes beyond the basics, incorporating unique design elements like custom lighting, drink shelves, and special touches that create a hotel-like experience. These thoughtful details help her properties stand out and generate rave reviews from her guests.
3. Weekly Services for a Hotel-Style Stay: Weekly linen changes, restocking essential items (like toilet paper), and offering other hotel-style services are all part of Karen’s strategy to maintain high levels of guest satisfaction. This commitment to hospitality ensures her guests keep coming back, driving repeat business and glowing reviews on Furnished Finder.
Why Karen Chooses Furnished Finder for Her Midterm Rentals
One of the standout points of this episode is Karen’s decision to market her properties exclusively on Furnished Finder, rather than platforms like Airbnb or Vrbo. Karen appreciates the transparency and control Furnished Finder offers landlords. Unlike short-term vacation rental platforms, Furnished Finder focuses specifically on midterm rental tenants, giving landlords the ability to screen guests and foster personal connections. This results in a more stable tenant base and higher occupancy rates for Karen.
Karen’s high occupancy rate and glowing reviews on Furnished Finder are proof that her approach works. By connecting with tenants seeking longer stays (typically 30+ days), she’s able to maintain a steady flow of income without the hassle of constant guest turnover.
The Ultimate House Hack
Karen’s latest project is a perfect example of the ultimate house hack. She’s in the process of building a unique rental space featuring three master suites, each designed with a luxurious, hotel-inspired theme.
Each suite includes:
- King-sized beds
- Electric fireplaces
- Blackout shades
- Custom lighting and backlit headboards
To elevate the overall guest experience, Karen has also themed the suites around popular destinations: beach, golf course, and vineyard. With these personalized touches, Karen creates an ambiance that makes her tenants feel like they’re in a five-star resort—without the price tag.
Key Tips
Karen’s journey is filled with valuable lessons for real estate investors looking to break into the midterm rental space. Here are some of her best tips:
1. Focus on Lighting: Proper lighting is essential for creating a functional and inviting rental. Karen emphasizes the importance of having different lighting for various activities—whether reading, relaxing, or working.
2. Ceiling Fans for Comfort: To keep her tenants comfortable, Karen installs ceiling fans in every room, a small touch that adds significant comfort during warmer months.
3. Space-Saving Design: Karen suggests incorporating custom closets and C-shaped tables to save space while enhancing functionality. These thoughtful design choices ensure that her properties are comfortable and efficient.
4. Anticipate Tenant Needs: Think beyond the basics. Karen envisions the extra comforts her tenants will need, such as extra blankets, space for yoga, or a fully functional desk for work.
Conclusion
Karen Lombardo’s story is a testament to how midterm rental investors can maximize their profits through creativity, hospitality, and strategic marketing. Whether you’re just starting or looking to scale your midterm rental business, Karen’s insights can help you create a successful rental business that stands out in today’s competitive market.
For more tips on midterm rentals and investing strategies, subscribe to The Landlord Diaries podcast and check out Furnished Finder’s blog for additional resources.