Does anyone have experience renting to traveling nurses? I'm finishing up a renovation and it's in a C class neighborhood and I fixed it up probably too nice for the area so I'm leaning towards renting to traveling nurses with the hopes that i'll attract a better tenant than the area normally would. The only downfalls are that it's a shorter term than a traditional lease and that you need to furnish it. Benefits, I imagine, are that there's less wear and tear and you can ask for higher rent. There's a few hospitals nearby and I've looked at a website that seems to cater to nurse rentals so there seems to be a market for it. Does anyone else have experience with this that can offer insight or advice? Thanks!
Rental Property Investor · Brandon, SD · Member since 2015 · 1k+ posts · 1k+ votes
3y
I rent a 4 unit motel almost exclusively to traveling nurses. It's listed on AirBnb and I require that they go through it for reservations. The staffing company pays the rental fees and switches the nurses out from time to time. Any damages (rare) are swiftly paid for by the staffing company. It's a great relationship. Contact the local hospital, ask for the nurse recruiter, and identify yourself and they can refer you to their preferred staffing company contacts.
Investor · Shelton, WA · Member since 2017 · 6k+ posts · 6k+ votes
3y
We have been asked by a nursing group but we don't have any furnished units and now, post covid, the market in in decline is my understanding. Maybe if you can combine traveling nurses with regular STR it might be a winner. We work with local hospitals for regular rentals and that has been a good source of tenants. Several doctors and nurses have been tenants of ours over the years.
Rental Property Investor · Brandon, SD · Member since 2015 · 1k+ posts · 1k+ votes
3y
I rent a 4 unit motel almost exclusively to traveling nurses. It's listed on AirBnb and I require that they go through it for reservations. The staffing company pays the rental fees and switches the nurses out from time to time. Any damages (rare) are swiftly paid for by the staffing company. It's a great relationship. Contact the local hospital, ask for the nurse recruiter, and identify yourself and they can refer you to their preferred staffing company contacts.
Does anyone have experience renting to traveling nurses? I'm finishing up a renovation and it's in a C class neighborhood and I fixed it up probably too nice for the area so I'm leaning towards renting to traveling nurses with the hopes that i'll attract a better tenant than the area normally would. The only downfalls are that it's a shorter term than a traditional lease and that you need to furnish it. Benefits, I imagine, are that there's less wear and tear and you can ask for higher rent. There's a few hospitals nearby and I've looked at a website that seems to cater to nurse rentals so there seems to be a market for it. Does anyone else have experience with this that can offer insight or advice? Thanks!
As long as the tenants feel safe they are ok with less nice MTR locations. Our property is nice but the street is crowded and not as nice. Haven't heard anything about it.
New to Real Estate · Methuen, MA · Member since 2020 · 20 posts · 5 votes
3y
I rent a 2 BR STR on the beach to travelling nurses in the off-season. Their contracts usually run for 90 days. Two things that are important to them is washer/dryer, dishwasher and parking in front or very close to the unit. I've had good experiences with travelling nurse. I would definitely rennt to them in the off-season every single time.
It depends on what the staffing agency is willing to pay. In my area, a traveling nurse gets a $1500 living allowance. That may pay for a small place in the winter, but it won't cover the cost of a furnished rental in the summer during tourist season where the owner could easily make $3,000 or more a month.