How to find mid term rentals for 3Bed 2 bath property?

[Aditya Kohli]

Hey all, 

Starting to pivot from STR to MTR strategy for my 3Bed 2 bath house (close proximity to 1-2 big hospitals ). I have been on furnished finder and started to talk to travel nurses but mostly find 1 or 2 nurses traveling at a time and my pricing is slightly beyond their budget. Any tips on how can i find a bigger group to rent to on monthly basis ?

[Patricia Steiner]

It's worth reaching out to Corporate Housing Groups (most HR Departments at large employers have this division as well as Relocation Companies that you can find via an internet search) to offer your property as a 30-day furnished rental. If you're near a medical and/or law school, monthly rentals are preferred by those who are preparing for board exams over vacation rentals as well as by visiting professors.  My family was an investor in a Corporate Housing designated complex and it turned out to be very profitable. Also, custom builders are always looking for temporary housing for their clients who are building new homes or doing major renovations. They issue for them has always been getting caught between a long-term lease which isn't needed and/or a vacation rental that is just too transient.  I think you have a temporary marketing issue that has the potential for turning into something pretty great.  Hope this helps...

[Allen Duan]

Our 3 bedroom MTR units rarely get travel nurses. We find 2 bedroom units and smaller attract travel nurses, while 3 bedroom or larger attract the types of guests Patricia mentioned above. Right now we only list on Furnished Finder, Airbnb, and VRBO and our 3 bedrooms are usually booked by local families doing renovations or repairs on their home and groups traveling together for work projects. I'm working on building relationships directly with placement agencies to become their local go to source of housing. I believe this will get me more bookings and higher value bookings for the larger units we manage.

[Aaron Beal]

great question

[Aditya Kohli]

Thanks Patricia and Allen for great suggestions , As a next concrete step I ll try reaching out to the Corporate housing groups , hospitals and universities 

[Mason Weiss]

Hey @Aditya Kohli, are you just looking at Tucson or are you open to other areas?

[Aditya Kohli]

Quote from @Mason Weiss:

Hey @Aditya Kohli, are you just looking at Tucson or are you open to other areas?

Hey Mason, just looking at Tucson as of now

[Nicole Heasley Beitenman]

If multiple travel nurses are telling you that the price you want is outside their budget, then the MTR market may not be the right place for you. MTR generates more revenue than an LTR, but it won't generate as much as an STR. I would still contact the entities suggested, but if you want STR cash flow, it may be best for you to stick to the STR business model.

[Karthik Dontula]

I have heard about ALE Solutions & DAN Housing from Jesse Vasquez's YT videos and i'm enrolled with them. I am also reaching out to the closest universities and in the process of building relationships. I'm happy to connect and learn together.

[Evan Kline]

I would also suggest doing a hard look at the staging and photography of your place. If you want to charge higher prices your place needs to justify it. Invest in professional photography, look at other MTRs in your space that are listed at the price you want and are rated well and see how they staged the property. As @Allen Duan said 1-2 bedroom are the sweet spot for traveling nurses, but that being said we have a 4/2 that's stayed booked consistently. Mostly appeals to larger family units but we've had traveling nurses bringing their family, folks needing a place for outpatient surgery, also people between moves, etc. 

Also check out facebook groups for travel nurse housing where you can post your property. The biggest one is called the Gypsy Nurse, 130,000 members. We also list on furnished finder and airbnb but get most off our traveling nurses from that group.

[Conner Olsen]

Quote from @Aditya Kohli:

Hey all, 

Starting to pivot from STR to MTR strategy for my 3Bed 2 bath house (close proximity to 1-2 big hospitals ). I have been on furnished finder and started to talk to travel nurses but mostly find 1 or 2 nurses traveling at a time and my pricing is slightly beyond their budget. Any tips on how can i find a bigger group to rent to on monthly basis ?

 Airbnb, VRBO, FB Groups, Hello Landing, Insurance

[Allen Duan]

Quote from @Conner Olsen:

Quote from @Aditya Kohli:

Hey all, 

Starting to pivot from STR to MTR strategy for my 3Bed 2 bath house (close proximity to 1-2 big hospitals ). I have been on furnished finder and started to talk to travel nurses but mostly find 1 or 2 nurses traveling at a time and my pricing is slightly beyond their budget. Any tips on how can i find a bigger group to rent to on monthly basis ?

 Airbnb, VRBO, FB Groups, Hello Landing, Insurance

What’s your experience been like with Landing? They reached out to me and they have an unique structure. What are the pros and cons compared to other platforms?

[Conner Olsen]

Quote from @Allen Duan:

Quote from @Conner Olsen:

Quote from @Aditya Kohli:

Hey all, 

Starting to pivot from STR to MTR strategy for my 3Bed 2 bath house (close proximity to 1-2 big hospitals ). I have been on furnished finder and started to talk to travel nurses but mostly find 1 or 2 nurses traveling at a time and my pricing is slightly beyond their budget. Any tips on how can i find a bigger group to rent to on monthly basis ?

 Airbnb, VRBO, FB Groups, Hello Landing, Insurance

What’s your experience been like with Landing? They reached out to me and they have an unique structure. What are the pros and cons compared to other platforms?

I'm onboarding one property on them now to test. I'll keep you updated on what I find out!

[Mario I Fernandez]

Quote from @Aditya Kohli:

Hey all, 

Starting to pivot from STR to MTR strategy for my 3Bed 2 bath house (close proximity to 1-2 big hospitals ). I have been on furnished finder and started to talk to travel nurses but mostly find 1 or 2 nurses traveling at a time and my pricing is slightly beyond their budget. Any tips on how can i find a bigger group to rent to on monthly basis ?

Hey Aditya the first thing I would do is search your local market to see if there is demand for MTR. Maybe where you live makes more sense STR or even long-term rentals.

There are some places that MTR are more in the demand than others.

[Bonnie Low]

You may want to pivot to another guest type. Travel nurses usually travel solo or occasionally with a spouse or partner. Most prefer havng the entire space to themselves and they don't want to pay a lot. The COVID bonus pay days are over so what they can afford to pay is really down from the height of the pandemic. This is why 1/1s and 2/1s work so well for travel nurses. If you haven't already, look into insurance relocations. 3/2s and above are the sweet spot if the property itself is really nice and in a good neighborhood. Rachel Gainsbrugh is one of the most knowledgeable people in this space and she offers coaching on marketing to insurance placement companies. Good luck to you!

[Brad Smith]

Quote from @Conner Olsen:

Quote from @Allen Duan:

Quote from @Conner Olsen:

Quote from @Aditya Kohli:

Hey all, 

Starting to pivot from STR to MTR strategy for my 3Bed 2 bath house (close proximity to 1-2 big hospitals ). I have been on furnished finder and started to talk to travel nurses but mostly find 1 or 2 nurses traveling at a time and my pricing is slightly beyond their budget. Any tips on how can i find a bigger group to rent to on monthly basis ?

 Airbnb, VRBO, FB Groups, Hello Landing, Insurance

What’s your experience been like with Landing? They reached out to me and they have an unique structure. What are the pros and cons compared to other platforms?

I'm onboarding one property on them now to test. I'll keep you updated on what I find out!

 @Conner Olsen - How has your experience been so far with Hello Landing? I'm looking to list my property with them but read some horror reviews online from guests (but not hosts). 

Have you been getting bookings? What's the average length of stay each guests book for? Are you able to get like 2x the LTR rent? or is is more like 1.5x?