Wichita-based real estate investor Joseph Hamer of ReeceNichols South Central Kansas, says medium-term rentals are gaining traction as a practical alternative to both traditional long-term leases and the increasingly regulated short-term rental market. By focusing on tenants who stay one to six months – mainly travel nurses, aerospace workers, and corporate relocations – Hamer reports achieving higher cash flow with far less day-to-day management compared to either standard leases or Airbnb-style operations.
“Four tenants a year is about what I average in a unit,” Hamer says. “So it’s not like I’m having to clean it all the time or manage a ton of stuff. It’s a happy medium for me between cash flow and time managing it.”
This operational efficiency is becoming more critical as rental economics tighten in secondary markets, and new regulations complicate short-term rentals. Medium-term rentals occupy a regulatory gray area, attracting investors who want to bypass the compliance burdens of Airbnb while earning more than they would from traditional long-term leases.
Regulatory Arbitrage in Wichita
Over the past year, Wichita has introduced new registration requirements for short-term rentals. Hamer notes, “More regulations have been put into place for short-term rentals. It’s not as strict as in tourist destinations, but you must register. There are more steps that the city requires.”
Medium-term rentals, however, currently face no such requirements in Wichita. This difference gives investors a clear operational advantage: they can avoid the paperwork, compliance checks, and enforcement risks associated with operating short-term rentals, while still commanding rents above those of standard leases.
Yet for Hamer, the main appeal is not just regulatory convenience but the quality of the tenant base. “More importantly for me, it’s the tenant class that I’m working with,” he says. “I’m getting to serve people who are traveling to Wichita, usually to serve as a travel nurse, or to work in our aerospace fields or at Koch Industries.”
These tenants are professionals with stable jobs, often relocating temporarily for assignments lasting several months. Unlike speculative renters or those facing housing instability, these tenants have reliable income and a precise departure date, which changes the management dynamic.
Self-Sufficient Tenants Ease the Management Burden
Medium-term rental tenants differ from traditional long-term renters in ways that directly reduce the landlord’s workload. Hamer describes these tenants as highly self-sufficient.
“Most of them travel for a living, so they don’t ask crazy or obnoxious questions,” Hamer says. “For the most part, they’re able to take care of themselves. And when they do have a question, it’s usually very valid.”
This independence means fewer maintenance calls, less involvement in minor disputes, and reduced need for ongoing support. Tenants arrive with realistic expectations and handle most day-to-day issues themselves.
Vacancy periods are also more predictable. With roughly four tenant turnovers per year, vacancies are short and follow a set schedule, unlike traditional single-family rentals, which may sit empty for weeks or months, especially if tenant quality is inconsistent or the market is slow.
Cash Flow Outpaces Traditional Rentals
The primary financial benefit, according to Hamer, is that medium-term rentals can command significantly higher rents than long-term leases without the constant turnover and cleaning associated with nightly Airbnb bookings. In Wichita, rising home prices and stagnant rent growth have made it harder to generate strong returns from conventional rentals. Medium-term rentals, by contrast, help investors improve cash-on-cash returns.
The premium comes from several factors: furnished units justify higher rents, lease terms are short enough that tenants have less leverage to negotiate, and the tenant pool – mainly traveling professionals – often has employer support for housing costs and few local alternatives.
Another advantage is pricing flexibility. With tenants staying for only a few months, landlords can adjust rent rates more frequently in response to market conditions, rather than being locked into 12-month lease cycles.
Matching Market to Strategy
The success of medium-term rentals depends on local employment trends. Markets need a steady influx of temporary professionals to meet consistent demand. Wichita’s economy, driven by aerospace manufacturing, healthcare, and major employers such as Koch Industries, generates a steady flow of travel nurses, contract engineers, and corporate relocations.
“I’m getting to host and serve people that are coming to Wichita to support our community,” Hamer says. “That’s something that naturally aligns with me and something that I enjoy.”
This alignment between local job markets and the rental strategy suggests that medium-term rentals work best in secondary cities with stable employment in healthcare, manufacturing, and the corporate sector. In markets without these drivers, achieving consistent tenant demand may be harder.
A Practical Middle Ground
Medium-term rentals offer a middle ground between the passive nature of long-term leases and the hands-on management required for short-term rentals. Investors can earn higher yields than with standard leases, without the expense and labor of frequent cleanings and guest turnovers.
Whether the strategy gains wider popularity may depend on future regulation. If municipalities extend registration and compliance requirements to medium-term rentals, much of the operational advantage could disappear. For now, in places like Wichita, where regulations are minimal and the tenant pool is steady, medium-term rentals stand out as a practical way for investors to achieve strong cash flow without the operational chaos of Airbnb.