We are in the real estate business. While our properties include everything from single family homes to commecial properties and even raw land, our favorite area of investing is short term rentals.
Short term rentals are not the passive investment that most investors are looking for in rental properties. You cant just find a tenant, sign a 1 year lease and then forget about them until a maintenance issue comes up or the lease ends. You will be hands on almost daily, making sure the property is clean, fully stocked, maintained properly and that each guest is happy at all times.
The vast majority of those who list homes/rooms on short term rental sites such as Airbnb and HomeAway/VRBO are listing their own home or a room in their home. This is as big as they ever plan to get. They are just looking for a bit of added income and not for a full fledged business.
This blog post is aimed at those who wish to have multiple short term rentals without running yourself to death with multiple daily check-outs and turnovers. We have been there and done that. If you go that route, you should probably hire professional managment.
Why do travel nurses make the best short term rental guests? First, they are usually working on 13 week contracts. This means no guest check-outs multiple times a week. Travel nurses are extremely professional and predicable as a tenant group. They work long hours and are "easy" on the home.
Travel nurses typically are looking for a 1 or 2 bedroom home, near their hospital, that is in a safe location. All utilities should be included in the rent because no one wants to set up utilities for 3 months and then have to shut them off. Wifi and smart tvs are a must so they can unwind after a long day at work. Washer and dryer in the home is recommended and we won't buy a home that doesn't have hook ups.
We offer a 50% discount off our regular nightly rate for all stays over 30 nights. This makes our homes extremely affordable and typically cheaper than staying in a hotel.
Here are links to our 3 most popular travel nurse homes.
Renting to travel nurses is a win-win. You can earn better rates of return than you would on a traditional rental while still avoiding the time consuming managment of a vacation short term rental. It is also ideal for the travel nurse who doesn't want to be couped up in hotel for 13 weeks.
Stephanie and Kenny Trotter Amarillo TX