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All Forum Posts by: Scott Lorence

Scott Lorence has started 2 posts and replied 6 times.

Post: Multi family \ Renting to college kids

Scott Lorence
Posted
  • Posts 6
  • Votes 4

Can anyone provide any thoughts, good or bad with respect to renting to college kids?

I have an opportunity to purchase a duplex property walking distance to a SUNY University. I'm 3+ hours away and would hire a management company to take care of the property. Thank you in advance. 

Post: Mid Term Rental

Scott Lorence
Posted
  • Posts 6
  • Votes 4
Quote from @Stephanie Walker:

We'd never had much luck contacting any department at the hospitals themselves. However, I was lucky enough to be put in contact with our area hospital's HR Recruiter who has had a few of their corporate employees stay at our properties. I've been managing 70+ midterm rentals for over 3 years and we have never housed a traveling nurse - in our area, their stipends (or what they are willing to pay) are much lower than we can get in rents with other prospective guests/tenants.

Utilities are included at all of our properties and that is common practice here.


 Thank you for the information!

Post: Mid Term Rental

Scott Lorence
Posted
  • Posts 6
  • Votes 4
Quote from @Stanley Yeldell:

Hi Scott,

It sounds like you're in a great location for mid-term rentals! To determine if there’s a market at the hospital, I'd recommend reaching out to the hospital's housing coordinator or human resources department, as they often handle temporary housing for traveling medical staff or out-of-town employees. Another option would be to connect with the hospital's administrative offices, as they may have partnerships with local landlords for these types of accommodations.

Regarding utilities, in mid-term rental situations, it varies. Some landlords include utilities in the rent, while others may pass them on to tenants. Given the short-term nature of mid-term rentals, including utilities can make your property more attractive to potential tenants, but it’s essential to factor that into your overall rent pricing.

The best way to go about this is to ensure your listing is visible to your target audience. Websites like Furnished Finder and even hospital or university housing boards could be good starting points to market your property. Additionally, it’s a good idea to network with local real estate agents who specialize in short-term or mid-term rental markets.

Good luck with your new venture!


 Thank you! Working on finding a local agent and management company.

Post: Mid Term Rental

Scott Lorence
Posted
  • Posts 6
  • Votes 4
Quote from @Sheree Smith:

Try Traveling Nurses, Traveling doctors or and traveling medical profession website and they actually allow you to post your property. The Hospital usually pays for the rent for these traveling professionals. 


 Thank you!

Post: Mid Term Rental

Scott Lorence
Posted
  • Posts 6
  • Votes 4

Thank you! Much appreciated.

Post: Mid Term Rental

Scott Lorence
Posted
  • Posts 6
  • Votes 4

New to mid-term rentals. Purchasing a fully furnished 3-bedroom home minutes from a large hospital and a SUNY University.

Whom (at the hospital) would I contact to determine if there is a market for mid term rentals. Typically who pays the for the utilities?

What's the best way to go about this? Any information would be appreciated.