Best Real Estate Markets for Mid-Term Rental Properties (Travel Nurses) | Summary and Q&A

TL;DR

Learn how to identify the right market for medium-term rentals based on tenant preferences and property types.

Key Insights

• ™️ MTRs have become popular due to the benefits they offer to various tenant demographics.
• 👳 Urban markets with hospital proximity are ideal for MTR investments.
• 🏛️ One or two-bedroom properties in the same building are preferred for MTRs.
• 😘 Condos with shared utilities and laundry facilities can result in lower maintenance for landlords.
• 🏙️ MTRs thrive in second and third-tier cities with affordable property prices.
• 🪡 Understanding tenant preferences helps you cater to their needs more effectively.
• 📌 Basements and noisy locations should be avoided when selecting MTR properties.

Transcript

what's going on Bigger Pockets this is Ziana McIntyre co-host of the investify podcast and author at BiggerPockets of 30-day stay mastering the medium-term rental strategy with Sarah Weaver today we're talking about identifying a market for medium-term rentals or mtrs today we're going to talk about our Market but to talk about a market we need to ... Read More

Questions & Answers

Q: Who are the primary tenants for medium-term rentals?

The primary tenants for medium-term rentals include executives, travel nurses, digital nomads, and retired individuals without a permanent home.

Q: Where should you buy MTR properties?

It is recommended to buy MTR properties in urban markets, preferably within five miles of two hospitals or near a hospital complex.

Q: What property types are ideal for MTRs?

Ideally, MTR properties should be one or two-bedroom units, preferably in the same building. Condos with shared utilities and laundry facilities can also be advantageous.

Q: What are some tips for selecting MTR properties?

It is preferable to have two bathrooms for backup purposes and to accommodate traveling nurses. It is advisable to avoid properties with basements and those near busy roads.

Q: Who are the primary tenants for medium-term rentals?

The primary tenants for medium-term rentals include executives, travel nurses, digital nomads, and retired individuals without a permanent home.

More Insights

• MTRs have become popular due to the benefits they offer to various tenant demographics.

• Urban markets with hospital proximity are ideal for MTR investments.

• One or two-bedroom properties in the same building are preferred for MTRs.

• Condos with shared utilities and laundry facilities can result in lower maintenance for landlords.

• MTRs thrive in second and third-tier cities with affordable property prices.

• Understanding tenant preferences helps you cater to their needs more effectively.

• Basements and noisy locations should be avoided when selecting MTR properties.

• The author's secret tip is to consider condos with communal utilities to minimize maintenance and repair issues.

Summary & Key Takeaways

• Medium-term rentals (MTRs) have gained popularity, especially since COVID-19, and offer numerous benefits for landlords.

• The primary tenants for MTRs include executives, travel nurses, digital nomads, and retired individuals without a permanent home.

• Ideal MTR properties are located in urban markets near hospitals and should preferably be one or two-bedroom units, preferably in the same building.