Hi Sarah - How do you get around the 30-day minimum with HOA?
Thanks
I don’t. We did month to month leases, terminate with 20 days notice. One month stays almost all wanted to start at the beginning of the month. I use a basic lease from a local housing non-profit and guests were fine with it, including those who booked through VRBO and Air. I think stays for more than one but less then six months are hard to find. People are always really grateful.
My HOA has now switched to a 6 month minimum. So now I have tenants sign a six month lease and can terminate with 30 days notice. Nurses always start with a 3 month jobs contract, but so far they’ve all extended to 6 months or more. I only do furnished finder and zillow since I’m doing longer terms. I’m getting a lot fewer inquiries this time around though; I suspect there’s fewer travel nurses.
These are great, great tenants. I feel like it’s less work than STR (obviously) but also less wear and tear on my place than conventional LTR, since they’re not moving anything in and out or redecorating.
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Did they add your home as an ‘approved agency’, or is your home part of one?
@Brian_R170 maybe you could list it as a one or two bedroom to appeal to the target audience? Since travelling nurses tend to be single, or couples.
Lock off some bedrooms…
That said I have been listed on FF for several months and get inquires, but I am too far from the hospitals for it to make sense. For $99 it is worth the risk.
I had a medium termer, 10 weeks and it was nice not to clean and flip, he was going through a divorce and a great tenant/guest. He left after Thanksgiving and I opened my calendar back up on Air and have had back to backs all month it seems, and a few bookings into January as well. I am blocked off from Feb 1 onward hoping to get another medium term situation.
I like the idea of medium term, but it does come with added risks.
RR
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