Occupations looking for Medium Term Rentals
Member since 2019 · 7 posts · 3 votes
Occupations looking for Medium Term Rentals
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Jared HottleBusiness Member
Real Estate Agent · Cedar falls IA Waterloo, IA · Member since 2020 · 902 posts · 549 votesI 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.
Jared Hottle Real Estate59 Reviews
18 Replies
- Real Estate Broker · Cody, WY · Member since 2010 · 28k+ posts · 41k+ votes4y
Quote from @Ashley Mespelt:
My husband and I are looking into trying to invest in a property that would cater to people that would need 3-6 month rentals if possible. We know of traveling nurses that need that, but I was wondering if anyone knew what other occupations that would cater to?
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.
The DIY Landlord Book4.7248 Reviews - Member since 2019 · 7 posts · 3 votes4y
Quote from @Nathan Gesner:
Quote from @Ashley Mespelt:
My husband and I are looking into trying to invest in a property that would cater to people that would need 3-6 month rentals if possible. We know of traveling nurses that need that, but I was wondering if anyone knew what other occupations that would cater to?
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.
Of course. And the plan is whatever would end up working, the only hard part about planning for long term is for the medium term, it would need to be furnished, so we could try short/medium term. The area we’re considering is a tourist place but they also have 5 hospitals. The farther from the coast though, the less likely someone would use it for a vacation spot.
Thank you for your advice. It’s a lot to consider.
- 4yBonnie LowPro MemberLender · Asheville, NC · Member since 2016 · 1k+ posts · 1k+ votes
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.
- 4yAllen DuanPro MemberProperty Manager · Los Angeles, CA · Member since 2022 · 590 posts · 463 votes
Quote from @Bonnie Low:
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.
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.
- Member since 2019 · 7 posts · 3 votes4yThank you! This helps me get a better perspective and idea about how we would market and what to look for.
Quote from @Bonnie Low:
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.
- Member since 2019 · 7 posts · 3 votes4y
Quote from @Allen Duan:
Quote from @Bonnie Low:
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.
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.
Thank you! I may take you up on that offer. This gives me a good idea on what to expect a little better. Furnished Finder was the first (after Airbnb) that I had heard about and have that on my list.
- Real Estate Agent · Auburn Hills, MI · Member since 2022 · 45 posts · 67 votes4y
Hi Ashley, this company may benefit you healthcaretravels.com
- 4yJared HottleBusiness MemberReal Estate Agent · Cedar falls IA Waterloo, IA · Member since 2020 · 902 posts · 549 votes
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.
Jared Hottle Real Estate59 Reviews - 4yBonnie LowPro MemberLender · Asheville, NC · Member since 2016 · 1k+ posts · 1k+ votes
@Jared Hottle for the traveling welders and pipefitters you mentioned, were you on a specific facebook housing group for those traders or was the group more generic to people looking for housing in your location?
- 4yJared HottleBusiness MemberReal Estate Agent · Cedar falls IA Waterloo, IA · Member since 2020 · 902 posts · 549 votes
@Bonnie LowNothing specific. just for sale groups and local housing groups on FB
Jared Hottle Real Estate59 Reviews - Investor · Parker, CO · Member since 2013 · 47 posts · 28 votes4y
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.
- Member since 2019 · 7 posts · 3 votes4y
Quote from @Account Closed:
Hi Ashley, this company may benefit you healthcaretravels.com
This does! Thank you so much.
- Member since 2019 · 7 posts · 3 votes4yI can’t believe I didn’t think of that. We have a friend that travels to train people how to use the machines for welders and machinists. Thank you for putting that out there!
Quote from @Jared Hottle:
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.
- Member since 2019 · 7 posts · 3 votes4y
Quote from @Brian Payne:
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.
Thank you so much! This is exactly what I was looking for. More ideas on target renters and marketing to them.
- San Bernardino, CA · Member since 2016 · 7 posts · 1 vote3y
Quote from @Allen Duan:
Quote from @Bonnie Low:
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.
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.
Thank you for the good information. Any idea where we can find information on which hospitals in a given area use travel nurses? Like a rating/ranking system on which hospitals have the most travel nurses?
- 3yAllen DuanPro MemberProperty Manager · Los Angeles, CA · Member since 2022 · 590 posts · 463 votes
The best way I know of is to get on Furnished Finder and see which hospitals nurses are asking for to find housing near. On FF, travelers can post a housing request where they specify the area, number of bedrooms, and which hospital they're working at. It seems to be in my market at least, all the larger hospitals use travel nurses. On the recent podcast, Sara Weaver mentions there's a national nurse shortage which increases demand for travel nurses.
- Investor · Scottsdale Austin Tuktoyaktuk · Member since 2021 · 4k+ posts · 4k+ votes3y
Quote from @Bonnie Low:
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.
Have you noticed any change in demand in the last 6 months?
- 3yBonnie LowPro MemberLender · Asheville, NC · Member since 2016 · 1k+ posts · 1k+ votes
Quote from @Account Closed:
Quote from @Bonnie Low:
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.
Have you noticed any change in demand in the last 6 months?
You know, it's so location specific. Where I'm at there's been no slow down. But my daughter-in-law is a travel nurse in the Sacramento area and there's been significant volatility there for the last 6 months. I think one thing that is helping me at my location is that our hospitals seem to contract with a lot of other medical professionals (PTs, PAs, OTs, RTs, etc) and they seem to be in higher demand so it's less likely their contracts will be cancelled. I've only had one actual RN and her contract was slashed after her first 30 days to the point she couldn't afford to keep the job. Ever since then I've had no RNs and every guest I've had has stayed the full contract length or longer. So, like everything else in real estate, I think it just depends.
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