Budgeted 8k to furnish a 2 bed, I'm at 14,200 and not done

14,200 on a 2 bed isn't crazy for a unit meant to hold relocation placements. The number that's wrong in your model is the 900 a month of premium, because it's a gross figure standing in for a net one.

Work through what else the furnished package costs you monthly. Turn cleaning between stays, and corporate turns are deeper than a long-term turn because linens, kitchen, and every surface get reset. Consumables the guest expects on arrival. Linen replacement, because sheets and towels in a rotation unit last a fraction of what they last in a home. Then the replacement reserve on the furniture itself, which is the line people skip. A mattress in a rotating unit is on a five to seven year clock, sofas shorter if you're placing four tenants a year. If you're spreading 14,200 over seven years that's about 170 a month before anything breaks. Add turn labor and your 900 is closer to 600, and your recovery period on the capital stretches accordingly.

On vacancy, the honest planning number for corporate furnished with 60 to 120 day stays is that you will have gaps, and their size depends entirely on whether your placements come from repeat sources. An operator with two relocation coordinators calling them can run tight. An operator listing on a mid-term marketplace and hoping is looking at weeks between tenants, and one long gap eats a quarter of your annual premium. Underwrite the gap, not the average.

The risk you haven't raised is insurance. A standard landlord policy priced for annual unfurnished tenancy may not cover a furnished unit with rotating occupants, and your 14,200 of contents needs to be scheduled somewhere. Get the occupancy pattern in writing to your carrier before a claim tests it, and confirm what your state treats as a lodging use, because that varies.

The 2,100 sofa you replaced because the first one looked cheap on camera is the part I'd stare at. That's a photography problem you solved with furniture. Six months of research into this and the thing I keep landing on is that corporate placements often get booked off a coordinator's spreadsheet, not off your listing photos, so the sofa upgrade may have bought you nothing on the channel that actually fills the unit.

Check your local ordinance language before you settle on 60 day minimums. Some jurisdictions define the regulated short-term category by nights, some by whether the occupant is a transient, and a few pull in furnished units with rotating occupants regardless of stay length. It varies by city as much as by state. I'd rather you find that in the code than in a letter.

What is a relocation coordinator exactly? Is that someone at the employer or a separate company that gets hired?

@juniper both exist. Big employers have internal mobility people, and there are relocation management companies that handle placements for multiple employers. The second group is who you want, because one relationship covers many tenants. Getting on their approved list usually means insurance certificates, a standard rate sheet, and a walkthrough.

Sixteen months to recover furnishing capital only reads badly if you're comparing it to the unfurnished lease you already had. Compare it to what else 14,200 does in your portfolio. Sitting in a savings account it does very little. The question is whether the unit's premium holds after year one, which depends on your placement sources and not on the mattress.

The linen number in @rena-expert's reply is the one I hadn't priced. Three sets per bed at hotel-ish quality is a few hundred dollars a bed and they go gray fast with frequent washing. Harrow, did you buy commercial grade or retail? I'd guess that's a real fork in your annual cost.