Flipper/Rehabber · San Jose, CA · Member since 2019 · 27 posts · 13 votes
Is anyone renting rooms to travel nurses in San Jose or the SF Bay Area? Would love to connect and learn about this rental strategy. I have a couple flips going that I am thinking of using as rentals if we can't get what we are looking for on the open market. As an agent, I am also seeing some interesting opportunities on the mls...
The mid-term rental strategy is definitely a great method. I can't speak to your specific area, but have found a lot of success renting to traveling nurses. You're able to make more on your property than traditional methods and the nurses are making money where they are living instead of just spending money like a short term rental. Definitely feel free to reach out and connect!
Investor · United States · Member since 2020 · 202 posts · 284 votes
4y
I’m no expert on this market but I have heard SF limits rentals to 90 days or more - so be sure to check local regulations wherever you’re thinking about investing
The mid-term rental strategy is definitely a great method. I can't speak to your specific area, but have found a lot of success renting to traveling nurses. You're able to make more on your property than traditional methods and the nurses are making money where they are living instead of just spending money like a short term rental. Definitely feel free to reach out and connect!
Thanks Andrew. I will send you an invitation to connect so that we can hop on the phone!
I’m no expert on this market but I have heard SF limits rentals to 90 days or more - so be sure to check local regulations wherever you’re thinking about investing
Definitely worth considering. I think that is the main advantage to travel nurses. They tend to sign on to 12+ week contracts. I didn't mention this in my original post but I am a nurse who has done travel assignments. I put 17 years in before shifting to full time real estate
Property Manager / Investor · San Jose, CA · Member since 2013 · 780 posts · 301 votes
4y
@Jason Nesbitt Each property will have it's own characteristics that will appeal more or less to different MTR (Medium Term Renters). For example, an ADU with private access will appeal to someone who wants complete privacy. A multi bedroom home probably doesn't make sense for one person to rent but could for multiple people to rent. In this case you would essentially be renting out by the room with some share common areas. Some people will be ok with this and others not so much.
You'll also have to provide furnished housing. (Additional setup and maintenance/repair costs).
You can check sites like furnishedfinder to see what your competition is and going rates.
I have posted mine in North Bay, and not too many inquiries, perhaps only 2 per months, compare to LTR that has lot of reviews posting with FB marketplace.
@Jason Nesbitt Each property will have it's own characteristics that will appeal more or less to different MTR (Medium Term Renters). For example, an ADU with private access will appeal to someone who wants complete privacy. A multi bedroom home probably doesn't make sense for one person to rent but could for multiple people to rent. In this case you would essentially be renting out by the room with some share common areas. Some people will be ok with this and others not so much.
You'll also have to provide furnished housing. (Additional setup and maintenance/repair costs).
You can check sites like furnishedfinder to see what your competition is and going rates.