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Updated 5 days ago, 12/21/2024

User Stats

18
Posts
14
Votes
Ryan Duphorn
  • Rental Property Investor
  • Richmond, VA
14
Votes |
18
Posts

Mid term rentals specifically targeting traveling nurses

Ryan Duphorn
  • Rental Property Investor
  • Richmond, VA
Posted

Just recently listened to a podcast on mid-term rentals specifically for traveling nurses but could also include corporate professionals or large-scale construction project workers. In addition to just posting your property on furnished finder, they were reaching out and building connections with hospital HR departments and recruiters to help place nurses in properties. Has anyone done this and have had success? The podcast also talked about insurance claim re-housing where families lose their homes to a tragedy and get replaced through their insurance. However I mainly wanted to ask about getting housing leases from traveling nurses.

I currently have a 5 bed 2 bath, 1920 sqft home in a great neighborhood located less than 1.5 miles from 2 large hospitals here outside of Richmond. How or would a 5 bedroom house work in terms of landing multiple nurses in a single home? For example, say it were a 2bd/1ba property, I would just list it for 1 nurse to stay and I would hit my cash flow goal. But with 5 bedrooms I'll need at least 2-3 nurses to stay there at a time. If I just make a single listing on FF for this 5/2 and say list it for $4000 / month (market in this area), how would I get 2-3 random nurses to commit to the property? Would I have to find 1 nurse and tell him/her to find other coworkers to join? I'm assuming traveling nurses don't know many people in the area and would know someone to live with. There's not going to be a nurse who will pay $4000 themselves to rent a 5/2 and the property wouldn't cash flow if I rent to 1 nurse for lets say $1400 / month. 

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