Traveling nurse rentals

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Traveling nurse rentals

Patrick Flanagan
Property Manager · Prineville, OR · Member since 2016 · 261 posts · 166 votes

I’m looking to connect with a few people that rent out units to traveling nurses. I have a 4 plex about 5 mins away from a hospital where I just had my baby girl!!

But I was curious what things I should be aware of when considering making a unit ready to rent to traveling nurses. Is the vacancies a lot lower? I see lots of deals structured with 30 day minimums. To me I’d rather stay in a house with my own living space vs staying in a hotel for 30 days at $100 a night.

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Ryan Herting
Lender · Philadelphia, PA · Member since 2020 · 139 posts · 103 votes
5y

@Patrick Flanagan,

First, it’s important to know who actually rents out travel nurse housing. Sometimes, the agency rents the housing. Other times, the travel nurse rents the property. Typically, this choice is left to the travel nurse.

Overall, this is what travel nurses typically look for in housing:

  1. Provide lease terms of 3 months or less
  2. Month-to-month lease terms are highly desirable
  3. Furnish your property
  4. Provide utilities, cable and WIFI. Roll the cost into the price.
  5. Price your property inline with normal market values.

Also, this website, hands down, provides the best information on travel nurses https://www.thegypsynurse.com/... to always be aware of when renting to travel nurses:

Length of Stay

Travel nursing contracts typically last 13 weeks. Contracts can be both longer or shorter than 13 weeks. However, only a small percentage are over 13 weeks. Therefore, if you must lease your property for longer than that, then travel nursing is not the right market for you.

Contract Cancellations

Additionally, hospitals can cancel travel nursing contracts for any number of reasons. Moreover, travel nurses are away from home so they may come across any number of reasons to cancel a contract early. This is simply the nature of remote contract work.

Furnishings

The property should always be furnished down to the "forks" I like to say.

Utilities, Cable and WIFI

Travel nurses strongly prefer properties that provide utilities, cable and WIFI. Setting this up for them would be a hedache

Price

Travel nurses typically avoid properties that charge high premium prices for short-term stays but, you can certainly factor in the cost of furniture, utilities, cable and WIFI. Travel nurses expect to pay extra for those services.

Hope this was helpful!

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  • Luke CarlPro Member
    Rental Property Investor · Tennessee Florida · Member since 2016 · 4k+ posts · 5k+ votes
    5y

    Ask the nurses that delivered the baby how much they pay in rent and where they live and If they travel. If they are your customer ask them what they need! 

    Podcast Guest on Show From Surviving on $30/Day to 30+ Properties Thanks to Blue-Collar Skills
    4Reply
  • Paul Sandhu
    Investor · The worst town to live in, KS · Member since 2016 · 4k+ posts · 4k+ votes
    5y

    Nurses typically stay for 13 weeks.  I've rented to a few.  I'd rather not rent to them again.  They are psychotic mutts.  I rent to traveling refinery workers.  They are either psychotic or a mutt, but not both.

    10Reply
  • Collin HaysBusiness Member
    Property Manager · Gatlinburg, TN · Member since 2020 · 3k+ posts · 4k+ votes
    5y

    I rented a small cabin to a wet nurse for around 2.5 weeks once. 

    [email protected]806-672-7102
    SMOKY MOUNTAIN FALLS INC.51 Review
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    1Reply
  • Patrick Flanagan
    OP
    Property Manager · Prineville, OR · Member since 2016 · 261 posts · 166 votes
    5y

    @Paul Sandhu

    Or maybe it’s the landlord. I’ve only met awesome healthcare workers.

    15Reply
  • Patrick Flanagan
    OP
    Property Manager · Prineville, OR · Member since 2016 · 261 posts · 166 votes
    5y

    @Luke Carl

    I’m not in the hospital anymore, I don’t think they would let me in either with all the COVID stuff. But I could call them and ask

    Thanks for the info

    1Reply
  • Paul Sandhu
    Investor · The worst town to live in, KS · Member since 2016 · 4k+ posts · 4k+ votes
    5y
    Originally posted by @Patrick Flanagan:

    @Paul Sandhu

    Or maybe it’s the landlord. I’ve only met awesome healthcare workers.

    Or Maybe not.  I've rented to over 1800 satisfied refinery contractors that were either psychotic or a mutt.  The psychotics can call out the mutts, and the mutts can call out the psychotics.

    3Reply
  • Bill Goodland
    Rental Property Investor · Allentown PA, United States · Member since 2016 · 567 posts · 442 votes
    5y

    @Patrick Flanagan yup, not only nurses but traveling medical and allied health professional students that rotate at the hospital. I use furnished finder and Airbnb.

    3Reply
  • Patrick Flanagan
    OP
    Property Manager · Prineville, OR · Member since 2016 · 261 posts · 166 votes
    5y

    @Bill Goodland

    Thank you! I sent you a message

    0Reply
  • Jill Iwanski
    Rental Property Investor · Marshfield, WI · Member since 2019 · 18 posts · 37 votes
    5y

    We have a studio apartment that we rent to traveling nurses. They stay for 13 weeks at a time. It works great for us. It is more work having to flip every 13 weeks but it’s worth it. We have had nothing but great nurses rent from us. They are there to work mega hours and most of them travel home for the weekends. Apartment is fully furnished and all utilities are included in the rent. They show up with a suitcase and enjoy the apartment.

    6Reply
  • Joe S.Pro Member
    Investor · San Antonio · Member since 2020 · 3k+ posts · 3k+ votes
    5y
    Originally posted by @Jill Iwanski:

    We have a studio apartment that we rent to traveling nurses. They stay for 13 weeks at a time. It works great for us. It is more work having to flip every 13 weeks but it’s worth it. We have had nothing but great nurses rent from us. They are there to work mega hours and most of them travel home for the weekends. Apartment is fully furnished and all utilities are included in the rent. They show up with a suitcase and enjoy the apartment.

     How do you target just nurses? 

    What size property are you leasing to your outstanding nurses? Can you share some actual numbers of revenue etc.?

    0Reply
  • Joe S.Pro Member
    Investor · San Antonio · Member since 2020 · 3k+ posts · 3k+ votes
    5y
    Originally posted by @Bill Goodland:

    @Patrick Flanagan yup, not only nurses but traveling medical and allied health professional students that rotate at the hospital. I use furnished finder and Airbnb.

    What size property are you using and can you share some actual numbers?

    Also how do you target nurses are those in the medical field?

    0Reply
  • Robert TinkerPro Member
    Rental Property Investor · Round Rock, TX · Member since 2019 · 251 posts · 159 votes
    5y

    @Patrick Flanagan We use Furnished Finders. Haven't had a traveling nurse yet, but a doctor, also nursing student and pharmacy student. You can also list on Cozy. Cozy will also link to affiliates liker Realtor.com and apartments.com

    3Reply
  • Collin HaysBusiness Member
    Property Manager · Gatlinburg, TN · Member since 2020 · 3k+ posts · 4k+ votes
    5y
    Originally posted by @Joe S.:
    Originally posted by @Jill Iwanski:

    We have a studio apartment that we rent to traveling nurses. They stay for 13 weeks at a time. It works great for us. It is more work having to flip every 13 weeks but it’s worth it. We have had nothing but great nurses rent from us. They are there to work mega hours and most of them travel home for the weekends. Apartment is fully furnished and all utilities are included in the rent. They show up with a suitcase and enjoy the apartment.

     How do you target just nurses? 

    You can stalk them at the local hospitals- find the employee entrance.  Get a cheap pair of crutches and kind of hobble around on them in the parking lot.  When you spot a nurse - they’ll usually be wearing white and have a name badge - take a fall to the ground.  Any decent nurse looking for an overnight rental will come to your aid.  

    As they assist you up, slip them a business card with your contact info, and tell them you’ll toss in some fresh baked cookies for the first aid.  

    [email protected]806-672-7102
    SMOKY MOUNTAIN FALLS INC.51 Review
    WebsiteView Page
    12Reply
  • Joe S.Pro Member
    Investor · San Antonio · Member since 2020 · 3k+ posts · 3k+ votes
    5y
    Originally posted by @Collin Hays:
    Originally posted by @Joe S.:
    Originally posted by @Jill Iwanski:

    We have a studio apartment that we rent to traveling nurses. They stay for 13 weeks at a time. It works great for us. It is more work having to flip every 13 weeks but it’s worth it. We have had nothing but great nurses rent from us. They are there to work mega hours and most of them travel home for the weekends. Apartment is fully furnished and all utilities are included in the rent. They show up with a suitcase and enjoy the apartment.

     How do you target just nurses? 

    You can stalk them at the local hospitals- find the employee entrance.  Get a cheap pair of crutches and kind of hobble around on them in the parking lot.  When you spot a nurse - they’ll usually be wearing white and have a name badge - take a fall to the ground.  Any decent nurse looking for an overnight rental will come to your aid.  

    As they assist you up, slip them a business card with your contact info, and tell them you’ll toss in some fresh baked cookies for the first aid.  

      Would you be open to helping the OP with their marketing plan personally? :-) You seem to have talent that the average person would not be able to pull off. :-)

    1Reply
  • Collin HaysBusiness Member
    Property Manager · Gatlinburg, TN · Member since 2020 · 3k+ posts · 4k+ votes
    5y
    Originally posted by @Joe S.:
    Originally posted by @Collin Hays:
    Originally posted by @Joe S.:
    Originally posted by @Jill Iwanski:

    We have a studio apartment that we rent to traveling nurses. They stay for 13 weeks at a time. It works great for us. It is more work having to flip every 13 weeks but it’s worth it. We have had nothing but great nurses rent from us. They are there to work mega hours and most of them travel home for the weekends. Apartment is fully furnished and all utilities are included in the rent. They show up with a suitcase and enjoy the apartment.

     How do you target just nurses? 

    You can stalk them at the local hospitals- find the employee entrance.  Get a cheap pair of crutches and kind of hobble around on them in the parking lot.  When you spot a nurse - they’ll usually be wearing white and have a name badge - take a fall to the ground.  Any decent nurse looking for an overnight rental will come to your aid.  

    As they assist you up, slip them a business card with your contact info, and tell them you’ll toss in some fresh baked cookies for the first aid.  

      Would you be open to helping the OP with their marketing plan personally? :-) You seem to have talent that the average person would not be able to pull off. :-)

     Gorilla marketing?

    [email protected]806-672-7102
    SMOKY MOUNTAIN FALLS INC.51 Review
    WebsiteView Page
    1Reply
  • Elena Willis
    Portland, OR · Member since 2020 · 6 posts · 14 votes
    5y

    @Patrick Flanagan

    First of all, contracts on your little baby!! I happen to be a labor and delivery nurse in the Portland area and work with/ know a ton of traveling nurses (none of which are psychotic OR mutt, btw). They are usually looking for a clean, quiet place to stay and are typically very good tenants. Like others have said, the standard contract is 13 weeks but some like to extend 26 weeks. One tip is that many of them are hired for night shift, so the quieter your place during the day while they're sleeping, the better. I also know many traveling nurses who like to travel in pairs (i.e. two best friends) so sometimes two bedroom apartments are great as well. All of the nurses I know use furnished finder and generally expect all utilities to be rolled into the cost of rent. I would suggest spending some time on furnished finder checking out your competition's prices/amenities/furnishings to get some comparisons just as you would do on airbnb/vrbo for a STR. I hope that was semi- helpful!

    And again, congrats on your new kiddo :)

    11Reply
  • Elena Willis
    Portland, OR · Member since 2020 · 6 posts · 14 votes
    5y

    Also, excuse all of my ridiculous typos. I could blame my dang phone for auto correct, but it’s probably just all me.

    1Reply
  • Patrick Flanagan
    OP
    Property Manager · Prineville, OR · Member since 2016 · 261 posts · 166 votes
    5y

    @Elena Willis

    Thank you so much!! I’m so excited. Yeah it sounds to me like that gentleman has issues.....

    That’s great info I’ll send you a personal message!

    2Reply
  • Jill Iwanski
    Rental Property Investor · Marshfield, WI · Member since 2019 · 18 posts · 37 votes
    5y

    @Joe S.we use furnishfinder.com. It costs $99/year. They post the apartment. They also vet all the tenants and also the landlord. It has work great. Been using it for 2 years now. The applicant also uses it to contact us with email. We are currently getting $575/month for a 550 sf studio apartment. We spent about $2500 to fully furnish it and scheduled to get our money back in 3 years. We cover all the utilities and high speed internet. It has been a great use of the space that would otherwise be basically unrentable.

    4Reply
  • Lioneil Guevarra
    Rental Property Investor · Oakland, CA · Member since 2021 · 17 posts · 16 votes
    5y

    @Patrick Flanagan. a lot of them work nightshift as well since they are covering the shifts no one else wants. and a majority have pets.

    2Reply
  • Brad HammondBusiness Member
    Real Estate Agent · Portland, OR · Member since 2016 · 1k+ posts · 605 votes
    5y

    Hi @Patrick Flanagan I think that is a solid plan and a niche I'm looking into in our area.  I agree with what @Elena Willis said.  I have a few friends that were traveling nurses and stayed here permanently.  It is basically going to be set up as a short-term rental (everything included in the price) but with fewer vacancies.  Since most of them do work nights to start off with, make sure you have blackout curtains.  

    Congrats on your little one! 

    3Reply
  • Patrick Flanagan
    OP
    Property Manager · Prineville, OR · Member since 2016 · 261 posts · 166 votes
    5y

    @Lioneil Guevarra

    Thank you for the info!

    0Reply
  • Patrick Flanagan
    OP
    Property Manager · Prineville, OR · Member since 2016 · 261 posts · 166 votes
    5y

    @Brad Hammond

    It’s worth evaluating further from my research. There are more “added” costs but I feel like one could rent it for more then traditional rent

    Thank you!

    0Reply
  • Lioneil Guevarra
    Rental Property Investor · Oakland, CA · Member since 2021 · 17 posts · 16 votes
    5y

    @Patrick Flanagan yes you can charge more for rent. Most travel nurses get a stipend of 3000 per month in my area. Since they are traveling, expect to budget more for vacancy. I've built several great relationships, so when nurses come back to the area, they check to see if I'm open to having them stay again. furnished finder is great. gypsy nurse facebook works out sometimes. a lot of what I've done was have the nurses I know post the vacancy in their break rooms.

    what you can try to do is see if you're able to get in contact with the housing department of these nurse agencies. if you find the right person you might be able to posted by them. Don't rule out local medical schools also. if there is a hospital near you then there is a school training them to be one also.

    This also works for traveling business executives.

    6Reply
  • Patrick Flanagan
    OP
    Property Manager · Prineville, OR · Member since 2016 · 261 posts · 166 votes
    5y

    @Lioneil Guevarra

    Great info! Do you have many traveling nurse units?

    0Reply
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