short term rentals traveling nurses market

[Alecia Williams]

I’m purchasing a single family home, and looking to rent out the rooms to traveling nurses or students. Has anyone had experience with this type of market ? I live in the county San Bernardino, ca.

[Justin Anderson]

No experience there, but I have a touch in Alaska.  Try calling the hospitals' HR departments asking about how they assist  travelers with placement.  They may have specific companies they work with or they may just add you to a list that they hand out when asked.

[Michael Baum]

Hey @Alecia Williams, my neighbor is an investor and she uses FurnishedFinder.com. She gets all the nurses and other traveling corp people she needs. 

[Alecia Williams]

@Justin Anderson thank you for your response.

[Alecia Williams]

@Michael Baum

Awesome ! Thank you.

[John Underwood]

I would make sure you research the requirements of having a STR in your area first.

[Paul Sandhu]

The travelling nurses I've rented to are either psychotic or a mutt, just like most of my previous 1800 tenants.

[Alecia Williams]

@Michael Baum

Thank you, I found so much info on that site.

[Michael Baum]

You are welcome @Alecia Williams. Your interest in this just happen to coincide with me chatting with my neighbor earlier that day. She doesn't live in the home next door but rents the upper and lower sections separately.

She keeps me updated on who is coming and when kind of thing. Seems to be working well for her. She also has several commercial properties including a 6 unit medical building and a small bank. Both have been vacant for over a year.

Speaks well to working in the residential space seems to keep on keeping on.

Good luck with your endeavor!

[Andrew Carlson]

@Paul Sandhu

If you’re from the worst town to live in, you get the worst tenants.

[Andrew Carlson]

@Alecia Williams

What I found travel nursing is that many folks weren’t charging enough. Whatever you think would be fair to charge for a fully furnished utilities included rental, add 20% and that’s your travel nurse rate.

[Paul Sandhu]

Originally posted by @Andrew Carlson:

@Paul Sandhu

If you’re from the worst town to live in, you get the worst tenants.

 Seriously, it's the worst town in Kansas.  Coffeyville.  Contractors that come here call it Coffin-ville. Because that's how some people leave.  In a coffin.  Had it happen to 3 of my tenants.

[Alecia Williams]

@Andrew Carlson

I like that ! And yes everything would be included .

[Kwadwo Asare]

Hi @Alecia Williams I’m actually in the process of doing the same thing with a single family house I own. I lived in this home for years with my family. However we just bought a new home so we’re converting this house into a rental property.

My wife and I have decided to give short-term renting a try. We also want to focus our energies on renting to traveling nurses.

I’m definitely interested in learning more about your journey as you progress forward.

Please keep us posted 😃🤙🏿

Good Luck

[Alecia Williams]

@Kwadwo Asare

Yes! Will do and you do the same !

[Fred Cannon]

@Alecia Williams I rent to travelers, mostly nurses and have only had good tenants. The better the property and the higher the rent gets better tenants. People that have a lot of issues with tenants need to look at themselves and their properties. You get what you attract in life. I use the website that was mention in one of your post and always have a tenant lined up for the next vacancy. Good luck.

[Alecia Williams]

@Fred Cannon

Thank you, would you treat this similar to Airbnb? Or more like a bed and breakfast ?or combo of both. Can you share how you got started and an example of the financials.

[Fred Cannon]

@Alecia Williams. My rentals are condos so I treat it like a individual property. If you are renting out a part of your house not sure how that would work. I have a friend who is a traveling nurse and I have a few condos that I rent. She suggested I Use furnished finders and rent to travelers like her. I converted my first condo into a furnished unit about a year ago and now I am converting each unit as they become empty. I love renting to nurses, they are doing an amazing service to the communities they work in and they are the best tenants. The person who said they are psychos and mutts is misinformed.

[Joe Splitrock]

@Alecia Williams we have a short term rental that is a block away from the hospital. Up until this point, we have had guests on AirBNB for shorter stays. We recently started advertising on Furnished Finder, which caters to traveling nurses. We have our first nurse checking in today for a one month stay. I can let you know how it goes! We have another nurse interested for a three month stay. She specifically stated she wants to rent an entire place - not just a room. I am not sure how many prefer an entire place versus room. It probably depends on privacy needs. My advice is go to Furnished Finder and search your local market. Look at availability and rates for your type of property. Follow the availability over a month or two and that will give you an idea how fast things rent. Our plan is to still use AirBNB to fill gaps, but ideally get travel nurses for larger blocks. I have heard good and bad about travel nurses.

[Alecia Williams]

@Fred Cannon

Thank you for sharing your experience, I too thought about a condo, however I wasn't happy about the HOA fees.

[Alecia Williams]

@Joe Splitrock

How exciting ! Keep me in the loop of how it goes, I spoke to a nurse that was requesting a similar request, a king size bed vs a queen, due to a her husband traveled with her.

[Ashley O'Hearn]

@Alecia Williams I have 6 houses that I use for short term renting. One of them the HOA only allows 3 month stays so I only host traveling nurses there. I can honestly say I have never once had a bad renter that was a nurse. They work a ton so they're not home much, very low maintenance and they pay well. Nurses are doctors are the true heroes right now so I make sure to have a welcome basket for them (a six pack of beer, bottle of wine, snacks etc) when they arrive. They usually have driven a long ways that day and will enjoy that upon arrival. Make them feel like you care and they will treat you and your house with respect. Shoot me a message if you have any questions. Happy to help you get rolling with your guests!

[Alecia Williams]

@Ashley O'Hearn

Thank you, Ashley, yes I have a ton of questions - 1. is the screening process similar to a regular rental? 2. Is it wise to charge a security deposit?

3. Do you manage your own properties?

4. Did you go under a LLC?

[Ashley O'Hearn]

@Alecia Williams I don’t do a screening process for them. Call me crazy but if you’ve got your **** together enough to get through med school or nursing school I trust you enough not to burn down my house 😂

I don’t do a security deposit on any of my homes and I explain up front that should anything get wrecked they’re liable (never had an issue). I do all the management myself, it’s for sure a full time job but saves money on management.

All of my properties are umbrellas under a single LLC.

[Alecia Williams]

@Ashley O'Hearn

Wow ! Your really trust them ...and rightfully so ...

Do you have a particular website or several sites that you use?

What do you think is your most difficult issues in renting to traveling nurses and doctors ?

What has made you stand out and be so successful at this ?

[Ashley O'Hearn]

@Alecia Williams I used furnished finder and Airbnb. Airbnb is easier and protects you more I feel. If you use Airbnb put in the description that you cater to travel nurses.

I haven’t found any difficulty to be honest. They’re my ideal renters. I think to stand out you just need to spend a little extra to make your home really inviting and treat them with respect.