Shared medium term furnished rentals
I am considering renting my 2 bed, 2.5 bath townhouse as a medium term rental. I'm less than a couple miles away from the primary hospital in town which utilizes travel nurses. In order to make a profit I would have to charge close to $2k per month. I would think it would take a pair of travel nurses to afford something like this. Do nurses travel in pairs and book together? Or would it make more sense to rent the two bedroom separately? Anyone have experience renting room separately in this way?
#3 Medium-Term Rentals Contributor
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- Los Angeles, CA
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#3 Medium-Term Rentals Contributor
- Property Manager
- Los Angeles, CA
I'm not sure how much travel nurse pay differs in your market compared to Los Angeles, where I am. I'm often surprised how much travel nurses can afford. Yes, we find it's pretty common for 2 travel nurses to travel together and look for a place together to split. A 2 bedroom home can also appeal to other types of guests other than travel nurses, such as a family.
We don't have any experience renting out by the room and I prefer to avoid it if I can. Do some research in your area and check what's the going rate for a 2 bedroom MTR. It may be higher than $2000! Go with the market data and don't worry about whether any given guest type can afford your place. Hope that helps!
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- Hospy Homes
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Quote from @David Zimmer:
I am considering renting my 2 bed, 2.5 bath townhouse as a medium term rental. I'm less than a couple miles away from the primary hospital in town which utilizes travel nurses. In order to make a profit I would have to charge close to $2k per month. I would think it would take a pair of travel nurses to afford something like this. Do nurses travel in pairs and book together? Or would it make more sense to rent the two bedroom separately? Anyone have experience renting room separately in this way?
LTR for my units is $1,4000 and when they pay on Airbnb it is $3,300 and my payout is $2,600. I think you'd be fine with $2,000 in your market. Check Furnished Finder and Airbnb and see if there are other comps at those same price points.
- Conner Olsen with The Moorhead Team
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Quote from @David Zimmer:
I am considering renting my 2 bed, 2.5 bath townhouse as a medium term rental. I'm less than a couple miles away from the primary hospital in town which utilizes travel nurses. In order to make a profit I would have to charge close to $2k per month. I would think it would take a pair of travel nurses to afford something like this. Do nurses travel in pairs and book together? Or would it make more sense to rent the two bedroom separately? Anyone have experience renting room separately in this way?
I am a travel nurse and did an assignment in Bradenton, FL area last year. Florida definitely has a lower travel nurse pay than most areas (usually around $1.5k-1.9k/wk is what I have seen). That being said, I think $2k/mo is reasonable for that size, I would bet $2.5k is reasonable. I would just look at other rentals in the area and see what the market is charging. Most nurses prefer their own place, although it is more common for nurses to share housing in more expensive markets like LA. Just get on Furnishedfinder.com and look at your area.