All Forum Posts by: Sarah Weaver

Hi Catherine! I have 9 furnished rentals, and none of them are condos. They all do extremely well. I find that the quality of the unit is paramount to the type of home. Best of luck! 

Hi Patrick! I would start by plugging your city into furnishedfinder.com/stats to see how many map searches the platform received over the past 12 months. From there, check to see what the comparable inventory on the market looks like. I would also encourage you to reach out to local furnished rental investors to ask about their experience with occupancy. 

Once you've done those things, you should have a holistic view of the MTR market. Best of luck! 

 Thank you so much for your kind words, Sebastian! I am so glad you enjoyed it. 

Hi Kelly! Thank you for pre-ordering the book (I wrote it). I hope you love it! 

You have done great research about the nearby hospitals. 173,000 map views for a city is a very strong number. Next, look at the number of comps on the market. Does the location appear over-saturated with furnished rentals? The map view is most helpful to determine the concentration of competition in your area. 

Next, I would research other local companies that have a headquarters in your market, or utility companies that might attract traveling workers. These are great supplements to the traveling nurse tenant pool. Best of luck! 

Hey Alyssa! Great question. In insurance, there is technically no mid-term range, policies either fall into short-term or long-term rentals. Carriers typically look at anything under 6 months as short-term; however, some carriers extend this to include anything under 12 months. The type of insurance policy will depend on the carrier you are working with. My recommendation would be to chat with licensed landlord insurance experts who can look at your specific case and help you find the best policy for your needs. 

I recommend asking about the following coverages: 

•  Liability coverage 
•  Vandalism and Malicious Mischief coverage is always worthwhile to have
•  Bed bug coverage is nice to have, but not always necessary

Best of luck! 

 Agree with Colleen! Joining local investor Facebook groups and local housing groups is a great way to connect and understand demand. I also recommend reaching out to landlords whose units are listed on Furnished Finder. In my experience, some don't respond, but some do and are happy to answer your questions about demand and vacancy rates. Best of luck! 

Hi Nathan! Great thoughts here. I like the way you are thinking of ways to make the space enjoyable and functional for a larger number of tenants. Those thoughtful ideas separate a rental from the competition. 

Typically, the higher the number of tenants sharing a space, the higher the potential for it to become less desirable. Most tenants prefer their own bathroom. Some do not mind sharing, but a private bathroom is certainly a selling point. I encourage you to consider who your tenant pool will be and try to understand if they will be open to sharing the space with so many others.

You will also want to consider hiring a very thorough cleaner/team member with boots on the ground to ensure that items are in their proper storage, and broken items replaced—7 tenants in a furnished rental will get messy, so you will want someone to help you manage the logistics. 

Another thought for down the line: is it possible to convert the home into a duplex? You will have to check with zoning. If so, you could lower the bedroom count on either side and make each unit a stronger medium- or long-term rental that would entice a wider tenant pool. Best of luck! 

This will completely depend on your location and which pool of tenants you are serving. Kenny, above, did a great job breaking it down. You can find success either way with the right audience! Best of luck. 

Travel nurses won't be the only population in your tenant pool! Even if there is a dip in travel nurses, you can still find success with other tenants. I second the recommendation to cross-list your unit to maximize visibility. Best of luck! 

 I find that there is generally less risk of theft with medium-term tenants than there is with short-term tenants. However, things still happen! I still choose to decorate my units with coffee table books, tabletop decor, etc. as it brings character and warmth to the unit. 

I have had guests break the decor. When that happened, I filed a claim with Airbnb and was reimbursed for the cost.