STRs for traveling nurses vs pilots vs corporate professionals vs student housing

[Kesha Hamilton]

I am looking to make make my next move an investment in occupation-based short term rentals. I would like to get some insight on the pros & cons of housing for traveling nurses vs crashpads for airline pilots vs corporate professionals vs student housing. Which have you seen be most lucrative?  What issues should I be aware of? 

[Bonnie Low]

You mentioned STRs, but some of these guest types are in the 30+ day stay category like students and travel medical professionals. Likewise, the guest type, their preferred locations and what they're willing to pay are going to be vastly different. Do you already have the location and/or property identified? If so, I'd start by looking at those characteristics and fine tune your strategy based on that. The property that appeals to a corporate professional is NOT going to be the same property that appeals to college students. If you haven't yet identified the property or the location, then I'd start by asking what your goals are and how you plan to manage the property. Are you needing to generate cash flow? If so, how much? How hands on can you be or do you want to be? All of these should help you narrow down your choices. Here are some rule of thumb profiles for these guest types as they compare to one another that might be helpful. I don't have experience with crash pads for pilots so I didn't include that category. It should go without saying that these profiles are not absolute.

Students: longer rental term (9+ months), lower rent, rent-by-room may off set lower rents, more damage, location specific.

Travel medical professionals (nurses, physical therapists, x-ray techs, etc): 13+ week contracts, higher rents than students but still price sensitive particularly in states with low stipends, very little damage, require quiet & safe properties, ideally close to hospitals but longer commutes acceptable in rural areas. I would not put traveling physicians in this category. I'd consider them more like Corporate professionals. 

Corporate professionals: length of stay varies, very little damage, higher rents, expect great design and amenities, location can be more flexible.

Hope this helps!