Travel nurses vs. long term tenants

[Julie Williams]

Has anyone out there rented to both travel nurses and long term renters? Which was more profitable? Which was hardest to manage? I like the idea of renting to travel nurses, but there are always some landlords renting to travel nurses at lower prices. This is a problem because the nurses' rents always include all utilities. Other properties rent to travel nurses at a premium but they are sometimes very large and/or luxurious. Every time I use the bigger pockets rental calculators, the numbers are actually better for long term tenants. This is because the area has very high rents, and with travel nurses I have to pay for all utilities, including heat in a Northern climate, internet, garbage, lawn care, and snow removal. I could also choose to provide phone and some sort of entertainment package. (This could just be a fire stick and Netflix, though.)  If I could get enough units/bedrooms in a building, the travel nurse numbers would surpass the long term renter numbers, but those properties are larger, have a higher entry point and often need a lot of work. 

[Zeona McIntyre]

I have short, medium, and long term rentals.

I only do long term if I can get at least a 10% return with property management. I got into medium term from some properties where short term is no longer allowed. 

Medium-term is wonderful if you are okay the extra work. I find it is a great way to squeeze out more cash flow. I have not found the same issues he described: I don't host nurses with pets, the ones without have been excellent tenants. I also do not worry about what others are charging, if they are low balling the market there will get booked first but they are just one place. We always get booked. There is a shortage of this type of housing and if you provide a stylish, clean place, you will have high demand. I'm a big fan of it for markets that are hard to cash flow otherwise.