How do I find renters for an MTR? (Travel nurses, corporate housing, etc)

Question

Just bought my first rental property (1 bedroom condo) in the Walnut Creek, California area (SF Bay Area).

I've decided I'd like to rent the condo as a medium term rental (MTR) to travel nurses, corporate housing, etc, but I have no idea how this works.

Do I just go to hospitals and let them know I have a condo for rent?

Are there websites specifically for travel nurses and corporate housing (finance, technology companies, etc)?

Evan Kline · Answer

Account Closed We're on the east coast, so there might be slight differences, but I've chatted with some folks over in your neck of the woods before and it seems roughly the same.

This is our breakdown of how we find tenants:

1. Airbnb - we get most of our tenants passively through the platform. We set a minimum stay length of 30 days, when people search for stays of 30 days or longer it filters out most of the STR rentals and those who focus on the mid-term space rise to the top.

2. Furnished finder - we just started using this platform about 5 months ago. The fee structure is better than Airbnb (only a 1 time small yearly fee) but tends to attract people looking for cheaper options. That being said we've gotten multiple tenants through here so the cost definitely pays for itself.

3. Facebook groups. Specifically look up "Travel Nurse Housing - The Gypsy Nurse" - there's over 130,000k members in there - all people either listing travel nurse housing or medical professionals looking for housing.

4. We do get referrals at this point - about 20% of our bookings are just people talking about us through our personal network or past tenants.

We haven't tried to work with any agencies yet, haven't needed to. With the exception of the days between turnovers (we try and keep at least 48 hours between tenants.) we've stayed 95%+ occupied.

Bonnie Low · Answer

Definitely read the book 30 day stay if you're just getting started. As far as I know, it's currently the only book on this topic. It covers all the fundamentals you need to know. I'd also recommend you start listening to some podcasts by hosts who are specializing in MTRs. Specifically, listen to Rachel Gainsburgh who has a unique approach to offering "luxury properties" and targeting insurance placements. On the more modest end of things, I like the podcast Women Invest in Real Estate with Amelia McGee and Grace Gudenkauf. They're young but experienced and cover a lot of good concepts. As others have said, you'll want to get a listing up on Furnished Finder. It's inexpensive and easy to build. Just know that it's not an OTA - it's a lead gen source so you'll get into contract with someone off platform and you'll collect rent off platform. They do have affiliates for both of those things. I have used their affiliates Keycheck for background checks and lease agreements and also Avail for lease agreements. Many people also list on the OTAs. Depending on who you are targeting this might work for you, as well. I have had zero luck reaching out to hospital personnel who handle contracting for travelers. Most traveling health care professionals prefer to take the stipend and make their own housing arrangements. I'm not saying don't try it, but I am saying don't let that be your primary strategy.

Osazee Edebiri · Answer

Congratulations on your new rental property in Walnut Creek Khail! Renting to travel nurses and corporate housing can be a great way to generate steady income from your property.

To attract potential renters, you may want to consider listing your condo on websites such as Furnished Finder, Travel Nurse Housing, and Corporate Housing by Owner. These websites specialize in connecting property owners with travel nurses and corporate housing tenants.

In addition to online listings, you could also reach out to local hospitals and healthcare facilities to let them know that you have a condo available for medium term rental. They may have staff members who are looking for housing options and could potentially refer them to you.

Another option is to work with a property management company that specializes in medium term rentals. They can help you navigate the rental process, screen potential tenants, and handle any maintenance or repair issues that may arise.

Overall, there are several avenues you can explore to find renters for your medium term rental property. Good luck and happy renting!

John O'Leary · Answer

Reach out to hospital administration: Contact the administration office of the hospital and inquire about their housing needs. You may be able to provide them with information about your rental property, and they can share that information with hospital staff and employees. Relocation companies, insurance companies, and damage restoration companies are good options also.

Aditya Kohli · Answer

Furnished finder is also a great resource to get renters for your MTR

Nicole Heasley Beitenman · Answer

Read the book 30 Day Stay. They have a chapter on advertising your property.

Conner Olsen · Answer

Furnished Finder, Airbnb, VRBO, FB groups for furnished apartments for rent, FB groups for traveling nurses in your city, Hello Landing

Suzy Farman · Answer

Corporate Housing by Owner will charge the landlord as well as Furnished Finder

How do I find renters for an MTR? (Travel nurses, corporate housing, etc)

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