Rent to professional students in the medical field? MD, RN, etc

2 Replies

Coming from someone that works in a hospital, who here has dipped into the niche market of professional students near hospitals, etc?  My hospital always has droves of students in professional programs (MD, RN, therapy, pharmacy, etc).  Some of these students have one month or more "rotations," or learning blocks which they float site to site at various teaching areas their last year of school- hospitals, outpatient community offices, government facilities, etc.  For students that have graduated, they have longer commitments, or residencies, which are one year plus.  Any of you have experience diving into this niche market?  Aside from contacting schools directly, which could possibly be a conflict of interest, I was curious how these groups of students could be marketed to, as they would make for top notch tenants.  

In the 1980s I rented (not owned) a house in Seattle and quite successfully sublet a room (with the landlord's permission) to medical school graduates (MDs) who were doing their externships with the University of Washington Medical School. They were on 3-month rotations. I advertised on the UW Med School bulletin board and had a terrific response. I did this for several years. 

I offered a private bedroom with bed, desk, chair, bookcase, wardrobe. Lodging came with a shared bathroom and use of the common areas of the house, including full use of the kitchen.  I designated shelves in the refrigerator and shelves in the kitchen cabinets for their exclusive use.  Utilities were included and also household supplies (paper products, laundry products, cleaning supplies). I greeted them at the airport upon their arrival and had a welcome basket in their room that included local maps and information. 

If I were doing this today, I would offer high speed internet and use of a printer. I would also own the place, instead of renting and subletting. :-)

@Daniel Rebol I’m not specifically in this niche on purpose but I believe one of my rentals has medical students in it. They’ve been fantastic tenants so far. Always pay on time online and haven’t heard a peep from them since last fall. (Moved in over the summer, lease goes until next January).

So in my limited experience I would say renting to these types of tenants is a good idea

Create Lasting Wealth Through Real Estate

Join the millions of people achieving financial freedom through the power of real estate investing

Start here