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Are Traveling Nurses The Best Tenants?
The Famous Six
What is your favorite personal finance resource?
Jim Cramer’s Mad Money podcast, Dave Ramsey’s debt-free lifestyle concepts, and Rich Dad, Poor Dad
What is your favorite real estate resource?
Bigger Pockets, Money Matter, and Michael Blank podcasts
What has been your favorite travel destination so far?
Germany, Switzerland, and Italy
What is the biggest bucket list item you haven’t accomplished yet?
He wants to buy an apartment complex; Sell his company
What is next on your travel list?
What is your favorite life hack?
Connection with information. Being able to Google anything, call anyone, listen to podcasts to learn how to do things
Discussed In This Episode
- Less turnover, less wear and tear, and more predictability
- Very inexpensive for landlords
- How to Get Your Unit Rented Quickly
- Keep deposits low
Books Mentioned In This Episode
Who Uses Furnished Finder
Furnished Finder is a short-term housing platform that helps landlords find tenants and renters such as travel nurses, people who have relocated, and professional athletes find temporary housing.
Renting to traveling professionals means less turnover, less wear and tear, and more predictability.
Most of Furnished Finder’s clients are mom-and-pop landlords that have a furnished basement, studio, ADU, or condo who realize that short stay short term rentals create more work. They also work with real estate investors with 2 to 10 units, apartment complexes that want leads, and hotels that want to fill rooms.
Landlords can go to the stats page to see the historical demand for the city where their rental is located.
There are 70,000 properties listed on the website. Each day, 25,000 to 30,000 travelers look for affordable budget accommodations for stays of one, two, and three months. The average stay is 90 days.
Furnished Finder renters are looking for a turn-key affordable solution. They want to be able to move in for their lease period without having to set up cable, utilities, and purchase furniture.
Costs to Use
There are no bookings fees or extra costs for renters or landlords. Landlords pay a listing fee of $99 for a single listing for a 12-month membership. Additional listings at the same property get a 60% discount on the listing fee.
Travel nurses make ideal tenants because they are required to pass a background check before getting hired. But you should still screen prospective renters.
Through the Furnished Finder dashboard, landlords can do tenant screening, accept online rent payments, and create custom leases through their partner company, KeyCheck.
How to Get Your Unit to Rent Quickly Through Furnished Finder
Be active on the platform and respond quickly
Aside from the obvious appeals of location and price, Furnished Finder promotes the properties with the highest usage from the landlords and renters. Landlords who respond quicker to rental inquiries get a higher score than landlords who take longer to answer queries.
Use the stats page to determine area comparisons to determine rental range that you can list. With nightly rentals you’ll have higher risk but higher reward. With a 12 month rental, you’ll have more consistency and stability but less income potential. But with Furnished Finders, renters aren’t vacationers, they are professionals who are traveling for work. So there’s less risk.
Lower deposits work best because Furnished Finder renters are moving on average every 90 days and have to wait to get their deposit back from their previous accommodation.
You need to find the happy medium between price and deposit requirements.
Tip: How to Rent Your Unit Fast
Your unit will rent faster if you keep deposits lower. Furnished Finder renters are moving on average every 90 days and have to wait to get their deposit back from their previous accommodation.
More From Furnished Finder
You can connect with Brian via the Furnished Finder website or Instagram @furnishedfinder.
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