Mid-Term Rental Income vs Traditional Lease in Portland: The Real Numbers

Your Property Is Generating 40% Less Than It Could

The average asking rent for a 3-bedroom house in Vancouver, WA on a traditional unfurnished lease runs approximately $2,550 per month. The same property, fully furnished and managed as a mid-term rental with all utilities included, commands $3,500–$4,500 per month in the current market. That's a 37–76% premium — for the same property, in the same location, with the same square footage.

The income gap between furnished mid-term rentals and traditional unfurnished leases has been documented consistently across the industry. Furnished properties earn 15–50% more than unfurnished equivalents, according to multiple market analyses. A documented case study showed a specific host who increased monthly revenue from $925 to $2,500 by converting from a traditional long-term lease to a mid-term furnished model. The premium is real, it's consistent, and it's available to Portland/Vancouver area property owners right now.

The Income Math on a Vancouver, WA 3-Bedroom

Let me walk through the actual numbers on a representative property — a 3-bedroom, 2-bathroom home in Vancouver, WA in good condition. Traditional unfurnished lease: $2,550/month. Annual gross income: $30,600. Subtract typical landlord costs (maintenance, vacancy, property management at 8–10%): net annual income of approximately $24,000–$26,000.

The same property as a fully furnished mid-term rental at $3,800/month, all utilities included. Annual gross income: $45,600. Subtract utilities (estimated $350/month), professional cleaning between stays ($200/month average), and management costs: net annual income of approximately $36,000–$40,000. The difference: $10,000–$16,000 per year in additional net income from the same property. Over five years, that's $50,000–$80,000 in additional wealth generated by the same asset.

The caveat is that capturing this premium requires either active management (furnishing, marketing, guest communication, cleaning coordination) or a partnership with a management company that handles these functions. The operational overhead of running a furnished mid-term rental is meaningfully higher than a traditional lease — which is exactly why the master lease model exists. You capture the income premium without taking on the operational complexity.

How PreparedPads Captures the Premium for You

PreparedPads leases your property directly at a guaranteed monthly rate, furnishes it at our cost, and manages it as a mid-term rental. You receive a fixed monthly payment — not the full mid-term rental rate, but a guaranteed amount that is typically 10–20% above what you'd receive on a traditional unfurnished lease, with none of the operational overhead. We absorb the management complexity, the utility costs, and the vacancy risk. You receive a reliable, above-market income stream.

This model works because we operate at scale across multiple properties, which allows us to manage the operational costs efficiently. It works for property owners because it converts an active management obligation into a passive income stream — with a professional operator responsible for maintaining your property to a higher standard than most traditional tenants would. If you own a property in the Portland/Vancouver area and want to understand what a direct lease with PreparedPads would look like for your specific situation, I'd be glad to have that conversation.