Renting Rooms to Traveling Nurses: How to Rent your Property to Travel Nurses
If you are a landlord wanting to earn more income by renting rooms to traveling nurses, read on to learn how to rent your property to travel nurses and increase your passive income.
Many nurses prefer to travel around to medical institutions or hospitals that have a shortage of human resources in their ranks. Due to this, they are looking for rental rooms or homes (or sometimes, a whole housing property) that cater to traveling nurses, preferably near the location of their work.
In this article, we will look into the benefits of renting rooms to traveling nurses or how to rent your property to travel nurses.
Travel Nurses – How Much They Earn
You might be surprised how travel nurses earn in the current industry; and due to that, they are more willing to spend more on a room that provides more comfort and is much nearer and more accessible to their workplace. Below are some of the current states that noticeably pay higher to traveling nurses:
- California: $ 102,700
- Hawaii: $ 96,990
- District of Columbia: $ 90,110
- Massachusetts: $ 89,330
- Oregon: $ 88,770
Do Travel Nurses Earn More?
Even though travel nurses are being paid higher than regular registered nurses who are stationed in a single hospital, several factors will still affect their pay (i.e., travel expenses). However, they will still benefit from higher net compensation/pay due to tax-free allowances, lodging, and living expenses.
Furthermore, due to their work’s on-demand nature, they are being paid more than their regular counterparts.
Travel Nurses and Their Agency
In some cases, there are travel nurses that are under a contract with an agency that specializes in travel nurses’ employment. Within their commitment, that agency will look for an available room, home, or property that is for rent, especially ones that are meant for traveling nurses.
Ultimately, the final choice will still depend on the traveling nurse, since he/she will be the one using the property in the long run. They will receive reimbursement from their respective agency and company if they secure the rental property on their own.
Renting Rooms To Traveling Nurses: How To Rent Your Property To Travel Nurses
Similar to someone looking for a new home to purchase or to rent (either short-term or long-term rental), travel nurses will also look into several factors before deciding on which property to rent. Below are those factors listed below that will affect their decision on renting your property:
Length of Stay
This will be a significant factor for travel nurses since there is a chance that they will be staying for a short time or a longer time than usual. The usual travel nurse’s contract is 13 weeks.
Since their nature of work is considered a remote job, there will be times that the nurse needs to cancel their stay, either due to personal matters or due to contract cancellations. Take note that the hospital that they are working for can cancel their contact anytime, for any reason as well.
Travel nurses will prefer a rental property with furnishings included in the rent since they will want to travel light and bring only their essential tools and utilities such as their clothes and toiletries.
Utilities, Cable and WiFi
Another necessity that renters will look for in a rental property is WiFi, since now most people are using it for basically everything today, i.e. communication, entertainment, information).
Lastly, any renter would prefer to have a rental property that would not hurt their wallet or bank account, and travel nurses are no exemption to this. Potential renters will surely be turned off if your rental property is beyond their budget, or if they see that it is not worth it.
Are there benefits of renting rooms to traveling nurses? Definitely, yes! If you are a landlord wanting to learn how to rent your property to travel nurses, please contact us here at Home Trade. Home Trade is a free service that connects landlords and property owners to travel nurses around the world. Increase your passive income and help our amazing travel nurses all over the world by featuring your property or room in Home Trade for free!