All Forum Posts by: Zachary Deal

Definitely recommend reviewing current options on Furnished Finder, Facebook, and AirBnB (30+ days) to get a sense of the market if you haven't yet!

I was going to recommend looking for extended stay hotels! I think the proximity to the city and Rutgers would also mean there is a lot of demand. Have you looked on Furnished Finder yet?

Ring doorbells are a great idea and I think sharing access would help keep people accountable as Ben said (and avoid potential disputes over missing packages, etc)

@Karla Villanueva The average US house uses about 900 kw per day (assume 3 bed is about the average house size). I would guess an MTR would do above average if you're renting by the room as people will spending more time in their bedroom watching, tv, etc

https://www.eia.gov/tools/faqs/faq.php?id=97&t=3

@Sheila Bishop Of course - glad it helped! 

@Brent Langlinais That is a great point! When I worked on conventional loans it was often a difficult conversation explaining how income is qualified for travel nurses for conventional lending purposes

I agree with Mason that you should only enter this agreement if you have more control. I think a simple structure where it is clear you are responsible for the rent regardless of occupancy would suffice. I think the best thing you can do to protect yourself is thoroughly vetting potential tenants and increasing security deposit for longer stays are your best bets

To piggy back off Connor - offering an incentive to tenants who find another renter when you have vacancies and trying to limit pets can help a lot as well!

This article has good general guidance and references the updated HUD guidelines https://www.propertyware.com/blog/pet-screenings-useful-not-...

I think evaluating the market to confirm demand is an important strategy. You can look at real estate investor Facebook groups. Sounds like there are lots of great hospitals but maybe checking into demand for other groups as back up would be useful