Traveling nurse rentals

[Patrick Flanagan]

I’m looking to connect with a few people that rent out units to traveling nurses. I have a 4 plex about 5 mins away from a hospital where I just had my baby girl!!

But I was curious what things I should be aware of when considering making a unit ready to rent to traveling nurses. Is the vacancies a lot lower? I see lots of deals structured with 30 day minimums. To me I’d rather stay in a house with my own living space vs staying in a hotel for 30 days at $100 a night.

[Ryan Herting]

@Patrick Flanagan,

First, it’s important to know who actually rents out travel nurse housing. Sometimes, the agency rents the housing. Other times, the travel nurse rents the property. Typically, this choice is left to the travel nurse.

Overall, this is what travel nurses typically look for in housing:

1. Provide lease terms of 3 months or less
2. Month-to-month lease terms are highly desirable
3. Furnish your property
4. Provide utilities, cable and WIFI. Roll the cost into the price.
5. Price your property inline with normal market values.

Also, this website, hands down, provides the best information on travel nurses https://www.thegypsynurse.com/... to always be aware of when renting to travel nurses:

Length of Stay

Travel nursing contracts typically last 13 weeks. Contracts can be both longer or shorter than 13 weeks. However, only a small percentage are over 13 weeks. Therefore, if you must lease your property for longer than that, then travel nursing is not the right market for you.

Contract Cancellations

Additionally, hospitals can cancel travel nursing contracts for any number of reasons. Moreover, travel nurses are away from home so they may come across any number of reasons to cancel a contract early. This is simply the nature of remote contract work.

Furnishings

The property should always be furnished down to the "forks" I like to say.

Utilities, Cable and WIFI

Travel nurses strongly prefer properties that provide utilities, cable and WIFI. Setting this up for them would be a hedache

Price

Travel nurses typically avoid properties that charge high premium prices for short-term stays but, you can certainly factor in the cost of furniture, utilities, cable and WIFI. Travel nurses expect to pay extra for those services.

Hope this was helpful!