Complete Guide to Successful Rentals for Traveling Medical Professionals

Complete Guide to Successful Rentals for Traveling Medical Professionals


JOIN THE COMMUNITY OF NEW INVESTORS!
Rent to a Traveling Medical Professional!


THE INVESTOR EXPERIENCE

THE TRAVELER EXPERIENCE

THE HOST EXPERIENCE


Provide Furnished Solutions

13 week contracts

Recession Proof

Hassle free qualified tenants

Low maintenance

No evictions

On time payments

Support Essential Workers

Contents

Complete Guide to Successful Rentals for Traveling Medical Professionals 1

Best Kept Secret 3

My Story 4

Why Now? 5

The Investor / RE Agent 6

Consider The Model 6

Solid Investment & Rehab Opportunities 8

The Search 8

Location 8

The Build 9

Host a Travel Nurse 10

Common Requests From Travel Nurses 10

Traveler Type 11

Before Set Up: 11

Setting up your Rental 13

Furnishings 13

Marketing Your Rental 15

In Preparation: 15

Inside Your Unit: 15

Responding to inquiries: 15

Avoiding Scams 17

Receiving Rental Payments 17

FAQs 18

Our Partners 19

Listing sites: 19



Best Kept Secret

Attention Investors & Landlords, STR Hosts, Realtors and Property Managers: Want me to help you crack the code on an untapped real estate niche so you can cruise through this current crisis? Good news is, there is something in this model for everyone!!

The national nurse shortage has been escalated in this current Pandemic. THERE IS A NEED FOR FURNISHED HOUSING NEAR HOSPITALS ACROSS THE NATION!!

Investors Know which properties and locations will be a flop and which will be a golden goose for this model. Improve communities nationwide.

LandlordsThese easy-going tenants can change the whole trajectory of your rental portfolio!

RealtorsThe exact scripts and techniques to use to sell this model to investors to make their current portfolios grow faster and to earn more $$$$.

Hosts – The exact technology and systems I used to put my entire Travel Nurse business on autopilot.

RecruitersFind the best, safest, cleanest locations for your clients. Place them quickly! Increased earnings.

Property Managers Low maintenance properties,. drama free tenants, auto pilot leases.

Photographers/Stagers Opportunities to work with the best in the industry. Expand your network!!

THE SECRET IS OUT!!


My Story

In May 2018 I accepted a retirement package from my job of 22 years. I ventured into the short – term rental business. I purchased and opened the Cozy & Quiet Bungalow with my first tenant from Air B and B. I sat nervously after checking this young lady in, whom by all intents, seemed very nice. What I did not know was her plans to invite plenty more people and you can probably figure the rest. Yes…big party with lots of people….That’s how I met my neighbors. Yikes!!

I immediately knew the Shorter Term was not for me. I found the Travel Nurses online and after following the program closely, I decided the nurses were definitely a go!. I am delighted to say that after 2 years of renting to these angels I decided to share my proven plan to immediately get and maintain 100% occupancy with this proven model!!

IF YOUR PROPERTY IS WITHIN 20 MILES OF A HOSPITAL THEN THIS COULD

BE WHAT YOU NEED:

  • Be less stressed managing the property. More time for you!

  • Be 100% occupied – Large pool of qualified tenants

  • Be contributing to the need of our essential workers especially during the National Health Crisis.

  • Avoid the eviction process

Benefits of renting to Travel Nurses

  • Shorter Term 13 weeks – More visibility of your property

  • Travel Alone – Most Travel Nurses are alone – less wear and tear

  • No squatting – The nurses have families at home and they want to leave

  • Less turnover – than STR’s like Air B and B shorter stays. 13 week turnovers (less dispatches of cleaning staff – save money)

  • Background and credit checks – Done by recruiting company

  • They pay on time and they work long hours – less wear and tear

  • COVID Conscious? Who knows better how to keep themselves protected than nurses?

  • Appliances – Lasts longer because of minimal use

I have rented to nurses for 2 years and NOT ONE service call!!!

I go in every 13 weeks and fix what needs to be fixed. It was a no brainer for me. Let’s see what you think.

Michelle Sanders

Why Now?

The travel nurse program is a program that had already been established and doing well. The program was designed due to a national shortage of nurses. The nurses are paid extra pay (stipend) to staff other facilities in other cities as needed. They are responsible to work with a recruiter to find suitable furnished housing for assignments lasting 13 weeks with options to extend.

THE PANDEMIC HAS THE NURSES TRAVELING MORE!!!!

THEY NEED SUITABLE FURNISHED HOUSING NEAR MEDICAL FACILITIES.

InvestorsNeed to add cash flowing properties?

LandlordsTired of evictions, heavy duty cleaning, disturbances, credit and criminal issues? Change the trajectory of your rental portfolio!

Real Estate Agents Need another market to add to your portfolio? Investor friendly relationships are key

Property Managers Properties near hospitals – low maintenance. Owners in default? This could save homes. Manage “like properties” or contract them out.

HostsTired of the BIG Platforms taking tons of fees!! Tired of too many turnovers and cleaning? Entitled guests?

Arbitrage The exact scripts and techniques to use to approach clients and landlords about using their property for nurse rentals to grow faster.

****Check State and Local laws for out-of-state investing

A rental system designed to give

you time back with your family while

getting more rentals in your life!!

IT’S THE NEWEST UNTAPPED REAL ESTATE RENTAL NICHE!!

Perfect for today’s crisis


The Investor / RE Agent

Nurse Housing Model


Looking to buy or sell property to rent to nurses?

Have trouble renting your current property?

Need more guaranteed payments in this era of COVID renting?

Consider The Model

Most common traveler is the single nurse. She/He is traveling alone on a 13 week assignment. For this traveler a room in a private home, an efficiency or a one bedroom place is suitable for the assignment. Featured below 1bdr1ba. Most common searched by Travel Nurses. Transient properties run like hotel suites.

or

2bdr 2ba model for shared housing.

Two single nurses traveling alone would share.

The nurses will require their own bathroom!


When buying investment properties near hospitals either buying retail or wholesale or flip to rent, these models fit the Travel Nurse housing demand. Already have a property? Convert to rent to travel nurses!

Agents selling near hospitals and investors investing near hospitals have this model as a sure feather in their cap! These are the models that will guarantee best performance.

A proven system that allows your property to grow so the benefits can be reached. Find the right properties and the right tenants and start building equity and cash flow!!


Solid Investment & Rehab Opportunities

Considering purchasing real estate for this model?

You only need 1 proven system to buy homes. When you are expanding your rental business you must have a proven system that is repeatable. A simple repeatable system will save you a lot of time and money and will give you the confidence to scale your rentals!

For best performing properties under this model, the smart investor will consider many factors when selecting a property for this model.

The Search

  • Property Appreciation

  • Rent Appreciation

  • Rent to price Ratio

  • Radius to nearby medical facilities.

  • Single unit priority

These factors weigh heavily on this model type for best performing properties. Apply 1% rent rule to find cash flowing properties. The numbers should look good but there are other factors to make sure you are entering a lasting solid investment.

Location

Gotta find the Sweet Spot for each medical community. Not every area will work and every low price home will not become a good rental. Check the demand for travel nurses in the area.

Build to sell Hardwood floors, no carpet, no grass or small yard (low maintenance), parking available.


The Build

The property structure should be solid and in shape. The 13 week contract and multiple turnovers allow our management teams to keep the property in top condition with low maintenance. The properties are easy to manage because of the easy accessibility due to the shorter terms. The 1bdr 1ba model is best for the travel nurse, however 2bdr models allow nurses to have company and/or roommate if desired. Properties with 2 bedrooms should have 2 full bathrooms in the event of share. Maximum share is 2 nurses. Hardwood floors a must.

Existing larger properties could also fit the model as nurses do travel with families. Many times spouse work from home and children are home schooled. Nurses also travel in groups sometimes. A 3 bedroom home in a medical community would fit the model as well and should not be ruled out. Minimum 2 full baths.

Build to sell Hardwood floors, no carpet, no grass or small yard (low maintenance), parking available.


Host a Travel Nurse

Do you currently have property that fits the model?

Once you decide to host travel nurses there will be things that will flow a little different than your typical long term or short term rental. There will be many similarities as well.

First, the traveler is normally coming from a totally different city and may not be familiar with the area. It will be important for the Travel Nurse Host to be accommodating while being completely attentive & professional. Tenants tend to not attempt to take advantage when the host is professional.

Your first interaction with a Travel Nurse inquiry will be basic clarifying information as to exactly what is available based on what you or your Property Manager may have advertised. There are several platforms that house medical professionals. The nurse and host will share experience and expectation upon initial contact. They will then decide if they wish to enter into a 13 week contract.

Common Requests From Travel Nurses

  • Distance within 20 miles from medical center. This is because of hospital requirements to meet scheduling.

  • Quiet/Safe neighborhoods They work and sleep a lot. They like to explore new areas. 40% of them travel with pets.

  • Clean private accommodations Less is more. Basic Furniture & TV

  • Pet accommodations 50% travel with pets. Hardwood floors

  • Washer/dryer Inside the unit or accessible nearby

  • Separate bath Whether shared housing or single unit the separate bath is normally the deal breaker.

  • Free wifi Minimum wifi for streaming. Cable TV is not needed

  • Paid Utilities Any and all utilities paid by landlord

  • Information & Resource They want to get to know where they are

Traveler Type

Although our most common medical travelers are nurses, there are other traveler types so in preparation you will need to consider the following traveler types:

  • Single Nurse Normally works a lot, few visitors, little use of amenities, appliances. Single nurse may bring a child or another person. Anyone 18 or over should be on the lease and go through the vetting process

  • Single nurse traveling with husband/mate The mate would need to be fully vetted and added to the lease as the agency does not vet the mate

  • 2 Nurses traveling as a couple Highly favorable as there are 2 stipends

Always ask what agency they are with and what hospital they will be working at. You can verify these items yourself.

Beware of travelers posing as nurses to gain access.

Search social media pages, ask for and verify references

During the stay you should be available for the nurse should they need landlord services. Some hosts offer mid-stay clean while other hosts prefer to be more hands off and give the client their privacy. Leaving basic cleaning supplies available in the unit will normally suffice. Trying to coordinate schedules with a nurse could be challenging. Unless you feel a valid need to enter mid-stay, I would avoid doing so.

Before Set Up:

Make sure you are compliant with the local rental laws in the state where your property is located.

  • Rental License

  • Permits

  • Inspections

  • Insurance

Consider Property Management Services

The most successful hosts provides

  • A CLEAN PLACE

  • INFORMATION AND RESOURCES

  • ON-CALL AVAILABILITY

These are basic requirements that will make your business grow quickly!

Setting up your Rental

LocationIf you are converting a current property or purchasing a property for this model, the location of 20 miles will be key.

Neighborhood – Know the neighborhood. Do your research. Nurses need safe neighborhoods as they are away from home.

Cleaning crew Reliable cleaners for 13 week turnovers

ComplianceLearn the rental laws

Furnishings

Kitchen

Microwave, one set of pots, pans, forks, knives, kitchen towels, mits, coffee pot, paper towels, first aid kit, fire extinguisher, mop, broom, bucket. No perishables.

(Starter) Paper plates & cups, plastic utensils, dish detergent, pods for dishwasher and washing machine.

Dining Room

Table & chairs – seats 4

Living room

Sofa, table, TV

Bedroom(s)

1 Queen Bed 1 TV 2 nightstands – *(Dresser and mirror – Optional), Linen provided. Comforter & sheets

Bathroom

Towels, washcloths (Starter toilet paper, bath gel, hand soap, shampoo, lotion). Hair dryer, toilet bowl cleaner, luggage racks

Any common area – minimal furniture & No TV

Optional – Folding table & 4 chairs. Hand Vac

Not recommended: Grills, Pools, Hot tubs

SMART LOCK AND RINGDOOR HIGHLY RECOMMENDED

The transient traveler wants no more than what a hotel would provide. Do not “store items” at the rental. This also allows for easy clean up, low maintenance and less pest control..


Marketing Your Rental

Once the rental has been certified, set-up and in compliance with state laws , then you will need to market the rental.

In Preparation:

  • Staging & Pictures to use for listing set up

  • Pictures of both outside & inside.

  • Online Platforms

  • Set listings to go live

  • Join & Follow fb nursing groups

  • Set competitive rates with appropriate increase

Inside Your Unit:

  • Guide to Local Restaurants , Grocery & Activities

  • Hospital literature & guides

  • Links to Local neighborhood groups

  • Transportation Guide

  • Information regarding outside maintenance

  • Neighborhood Safety information

  • How to reach you

  • Emergency maintenance

  • Emergency exit plan

  • Workstation (optional)

  • COVID CLEAN

Responding to inquiries:

  • Be prompt and professional

  • Clear and concise communication

  • Depend on your gut

  • Use other vetting if needed

  • Check social media pages

  • Work with one or two nurses at a time only

  • Require security deposit, paystub, rent reference

  • Require mtm lease signing (sample available)

  • Security deposit to hold. 1st month rent at move-in

  • Virtual/video tours

  • Never tour with previous tenant

  • Provide detailed check in and check out info

  • Immediately dispatch reliable cleaners at check out

Avoiding Scams

Both traveler and landlord should be aware of scams when renting property. The scam can be initiated by landlord or tenant. Popular Landlord scam: Traveler sees pictures of a place and reply to the ad. The so-called landlord collects a security deposit and first month rent and then ghosts the would be tenant. Landlord stole the pics from another site. Another popular scam is where the would be renter is asked to wire funds or if they say their company is paying. Please educate yourself on the different rental scams to protect your property and revenue. Although true nurses are vetted by the recruiting agency you may encounter an imposter nurse. You will need to carefully identify that you are dealing with a nurse.

Receiving Rental Payments

Nurses are generally loyal to their landlords in this program. Some things to consider would be how you will collect. Paypal, Venmo, Zelle, cashapp or combination.

There are systems including Cozy and Avail to assist in managing rental payments.

Establish clear guidelines as to when and how payments are to be submitted. Charge late fees as appropriate.

Check your state laws regarding collecting and returning security deposits.

FAQs

Q. Does the assignment ever go past 13 weeks?

  1. Yes. The traveler normally has the option to extend. In this case, this traveler should give ample notice and be given first preference to remain in the rental. The landlord should check with the tenant before advertising again.

Q. What is the fee for the service?

  1. Our consulting fee covers general communication, Real Estate services and assistance in getting your property prepared to rent. We offer Property Management and other referral services at an additional cost.

Q. What if there are damages?

  1. Your property should be insured to cover damages beyond security deposit. Check your rental insurance policy.

Q. Is it expensive to furnish these type rentals?

  1. You would furnish it like any short-term rental although the nurses do not care for bells and whistles. You should have only the minimum furniture recommended. Many hosts use Wayfair and FB Marketplace to furnish. There should be no items or areas off limits to the guest. It should be run like a hotel suite.

Q. How is rent calculated and charged?

  1. Set market rent and include the cost of utilities and wifi plus upcharge for the furnished option. The rent is charged month to month and usually transmitted by Paypal, Venmo or other similar electronic sources.

Q. What if a travel nurse arrives and she does not like the property?

  1. The nurse has no other recourse unless you have hired a property manager. It will be important that you do not misrepresent your property or the area. The essential worker should not feel mislead. Any and all discrepancies should be professionally handled by the host or property manager. In some cases it will require relocating the traveler.

Our Partners

Listing sites:

  • Furnished Finders

  • Air B & B

  • VRBO

  • Medical Pro Lodging

  • NursesBNB