In 2019, we decided that the Open Air Homes blog ought to be a place for education about the STR industry, so that we can all rise together. Yes, we are all in competition, but it is our belief that one bad host can prevent a guest from ever booking a home in the future, which is bad for us all.
We know that a large portion of our readers are fellow property management companies, and we felt it was wise to create some grammatical consistency around a growing trend – 30-90 day, medium term or extended stay rentals in our homes: Month+
In the ever-evolving landscape of property rentals, terminology has often lagged behind innovation. The market has been awash with phrases: “extended stay”, “medium-term”, 30-90 day rentals, and a host of other descriptors.
Yet, as the nature of our work and travel changes, it’s crucial we unify our language to reflect the reality of the market. It’s time we rally behind a term that encapsulates this burgeoning segment, and we would like to nominate “Month+”
A Glimpse into Longer Rentals
Traditionally, long-term rentals were seen as year-long leases or multi-year commitments, the domain of settled families and long-term residents. Oftentimes these were unfurnished year leases, but even that has begun to shift to more and more year leases are being offered designed or furnished.
On the flip side, we had short-term or vacation rentals, which usually lasted a few days to a few weeks. They were, predominantly, the realm of holiday-goers and transient visitors.
But between these two poles has emerged a new category: Month+
Driven by professionals who are increasingly remote, digital nomads, project-based consultants, and even families seeking a change of scenery without the commitment, these rentals last anywhere from a month to under a year. Typically 30-90 days, either to explore a new city, or as a base camp while someone looks for a longer lease or to purchase.
The Work-From-Home Era Accelerates the Trend
With the onset of global events forcing a majority of the workforce to adopt a remote working lifestyle, the demand for this new rental category has surged. Why? Because people are no longer tied to a physical office. This newfound freedom allows them to choose where they want to live based on lifestyle preferences, not just job locations. The appeal of experiencing new cities or escaping to scenic retreats for a month or three has never been more accessible.
Why “Month+” Makes Sense
The term “Month+” succinctly describes what this rental category is all about: stays that extend beyond a month but don’t tie you down for an entire year. It’s simple, intuitive, and doesn’t require an elaborate explanation.
“Extended stay” feels like an overreach, suggesting a commitment that many aren’t looking for. Also, there is a hotel chain called Extended Stay America, and I think we can all agree, this is far from that.
“Medium-term” is vague and can be confused with financial instruments or other sectors entirely. Also, what is medium term and where is the cut-off to long term? When I think of medium term, I am thinking 6 months, whereas the majority of our Month+ renters are staying from 1-3 months.
Month+ has clarity. It signals, directly, that you’re looking at a duration that’s more than a month, wit
hout committing to a full year. It neatly encapsulates this new, flexible way of living and working.
Unified Terminology for a Growing Segment
As industry professionals, it’s essential we adopt a unified language. It’s not just about clarity but about setting expectations right for potential renters. When they see “Month+”, they’ll instantly understand what’s on offer.
Open Air Homes is championing this term and believes it’s the way forward for the industry. We’re adapting “Month+” for all our properties fitting this category, and we encourage others to do the same.
Use it, or don’t use it. We can’t tell you what to do. But we advise you to listen, because we’re not regular moms. We’re cool moms.
