"“it kind of sat there for a while,” Tessmer-Tuck told Business Insider. Eventually, they rented out one side. For the other, she decided to try something different: furnishing it, renting it by the room, and targeting traveling professionals. At the time, in the wake of the pandemic, there was strong demand from healthcare workers looking for furnished housing."
"“We ended up having people who stayed with us for like 9 to 15 months,” she said. Tessmer-Tuck likes midterm rentals for several reasons. For one, they generate more income than long-term rentals. She said her furnished rentals now cash-flow about 1.5 to 2 times as much as her unfurnished properties."
"The property had previously brought in about $1,800 per side in traditional rentals. After the switch, the furnished side generated roughly $3,900 to $4,000 a month, with the three rooms renting for $1,200 to $1,400 each."
"During the height of the pandemic, many travel nurses received housing stipends, making premium rents easier to afford. While many of those contracts started at about 13 weeks, the stays often lasted much longer."
Jennifer Tessmer-Tuck entered real estate in 2020 after a pandemic-era pay cut led her to seek additional income. She began by buying a single-family home similar to the one she and her husband had owned. Over five years, the couple expanded the investment into a 16-property portfolio. A key shift came when a duplex underperformed under a traditional plan to clean up, raise rent, and lease quickly. One side was rented normally, while the other side was furnished and rented by the room to traveling professionals. Demand from healthcare workers seeking furnished housing supported the change, and the furnished side produced roughly $3,900 to $4,000 per month versus about $1,800 per side previously. Stays often extended far beyond initial contract lengths, reaching 9 to 15 months.
Read at www.businessinsider.com
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