MTR Rent by Room - Platform

[Eric Chiang]

Hi BP Community, REI rookie here!

I'll be closing on a SFH later this week, where my partner and I plan on renting by the room for medium term rentals (MTR) for travel nurses. There is one hospital within <10 min drive from our place, with several others within 20 mins. There's also a university nearby. I'll be househacking one room for at least one year, with plans to move out afterward.

Here are my questions: 

- For those who have experience in MTRs, do you have any general advice for someone starting out in the MTR space? 

- Our plan is to utilize furnishedfinder.com for our bookings (focuses mainly on travel nurses, traveling HCPs). In order to reduce vacancy, we plan on also listing on Airbnb with 30 day min. What issues do you foresee if we also list on Airbnb (if any)? 

- Any advice on how to make our listing more desirable? We're utilizing professional photos, trying to optimize room accommodations (eg private bathroom for master bedroom, 2 garage spots for larger rooms), but looking for anything else that may make our listing more desirable 

- Any issues if we also accept long-term leases (eg 1+ year) & university students/other young professionals? I plan on having house rules in place, but I'm a bit worried about the dynamic between travel nurses and university students/other young professionals if I open up the tenant pool. At the same time, I also don't want too many vacancies 

- Any advice on how to systematize the process once I move out? I'm familiar with TurnoverBNB and Hospitable, but wondering what else I can consider

Any advice is much appreciated, as I am new to the space.

Happy investing!