All Forum Posts by: Ashley Mespelt

Yep. @Bonnie Low pretty much nailed it. Similar to how "Travel Nurses' is kind of a catch-all phrase for all types of healthcare travelers, "Relocation" is one of those all encompassing phrases that describe a lot of the mid-term tenants as well. It could be a new family coming to town who is looking to purchase a house, or similarly, it could be a buyer or seller who needs a comfortable place to stay for a few months while the bits and pieces of their deal is finalized. Another one of those all-encompassing phrases is "digital nomads" because they can work in any industry for any period of time (an average of 3-6 months). We also see a steady stream of engineers, construction workers, and med students in residency. Hope this helps. 

I would also join local facebook housing groups as I have found a couple medium term tenants on there such as traveling welders and pipefitters as well as college interns and visiting professors. Maybe reach out to the local colleges and largest corporations and see if you could have them send out your contact info to workers like that when they know they will be looking for housing. 

Hi Ashley, this company may benefit you healthcaretravels.com 

 Bonnie covered pretty much everything I wanted to say :) My company manages 16 doors in Los Angeles and most of them are mid term rentals. Our most common types of guest are travel nurses, people having their homes renovated, people moving to LA and house searching, and college students with summer internships, probably in that order. 

Travel nurse demand is really good if you're in the right area near one (or more!) hospitals that hire travel nurses. We find most of our travel nurses through Furnished Finder. 

I'd love to answer any other questions you have about mid term rentals.

Midterm rentals are most commonly associated with travel nurses, but that's an over simplification. Traveling medical professionals (not just nurses) are probably the most frequently targeted in this niche. Other health care professionals include radiology, occupational and physical therapy, surgeons, anesthesiologists, rehabilitation, respiratory therapists - essentially almost any health care profession. Considering how broad the range of pay is across this sector, you can imagine that the types of properties they're looking for vary greatly as well. Depending on your location, you may have good demand from construction trades, digital nomads, IT, even workers affiliated with the film industry which is branching out far beyond Hollywood (Atlanta, for example, is really growing in this area). And don't overlook insurance placements or people looking for furnished housing while their own homes are under construction or as temporary housing when they're new to an area but aren't ready to buy. 

Buy property that works as a long-term investment (more than 30 days, typically a month-to-month or one-year lease). If you find someone to rent it month-to-month, you can typically demand a higher rate. Traveling nurses, corporate travelers, and people between homes are the most common renters. However, I've known several people that tried to market specifically to these people and it worked well sometimes while other times they experienced long vacancies. There's no guarantee that you'll find someone able to rent it for 3-4 months at a time for a higher rate without vacancies between stays, so keep that in mind when calculating your return.