Professors, university faculty, and graduate students are on the hunt for monthly rentals!
Now, hold your horses, we're not talking about rowdy spring breakers here. These tenants are professionals and academics in need of a furnished place to call home for a few months. Whether you're a seasoned landlord or dipping your toes into the rental market for the first time, this is a fantastic opportunity for you to learn about this type of tenant.
Let's dive into who these potential tenants are and what they're searching for in a rental. We've got visiting professors, adjunct and ad hoc professors, guest lecturers, and researchers seeking housing for month-long seminars or full semesters. Don't forget about the faculty members moving with their families, needing temporary housing while they search for their forever home. And of course, let's not disregard the med school residents, law students and MBA candidates pursuing summer internships. All of these folks are a fantastic potential tenant for a monthly rental!
Now, what exactly are these academic travelers looking for in a rental? Well, here's the scoop.
They crave fast and reliable wifi to stay connected in their work and studies.
A designated work or study space with a desk or office nook is also highly sought after.
And let's not forget about location, location, location! These tenants love to be within walking distance of universities and colleges, making their lives much more convenient.
A full kitchen stocked with kitchen supplies, like a blender, toaster, and pans, is a must.
And hey, a private outdoor space, like a backyard or porch, would be a huge perk compared to a cramped hotel room.
Oh, and we can't forget about parking – free parking, to be exact. Those hotel valet fees can be outrageous!
And if your rental is pet-friendly, you'll open up a whole new pool of potential renters. Fun fact: approximately 30% of our travelers plan to bring their furry friends along.
Sounds like your property? With the comforts of home at a reasonable price, your rental could be a dream come true for these academics. Remember, some of them may be seeking whole-place rentals, while others would be more than happy to stay in a spare room to save some money. You can list both options with Furnished Finder (opens in new tab) to attract a wide range of budgets and needs.
Now let's talk about how to market your property to attract this group.
Tip #1: Timing is key. Most semesters run from late August to early December and mid-January to early May. Graduate students often seek housing for summer internships between June and August, so they'll be looking to secure accommodations by the end of April. Professors and faculty typically search for housing several months before the upcoming semester, confirming their arrangements by July for the Fall semester and December for the Spring semester. Researchers may need housing throughout the year, so staying connected with the university's faculty housing team is essential. Make sure to keep them informed about your property's availability.
Tip #2: Consider tweaking your listing's headline to speak directly to this audience. Tailor your headline based on the time of year to stand out to these tenants as it gets close to their search season. Here are a few headline ideas to help you get started: "Walking Distance To Dining, Nightlife & Columbia University," "Great Homebase for a Summer Internship in the City!" "Family Retreat within Walking Distance to the University, Medical Center, and Dining/Shops," or "Med Student's Haven in a Quiet Neighborhood."
Tip #3: When it comes to marketing your rental, start by listing it with Furnished Finder (opens in new tab) if you haven't already. We specialize in mid-term rentals of 30 days or more, and many universities rely on Furnished Finder as their go-to housing source for faculty and graduate students. Whole-place rentals may be more appealing to professors and faculty, while individual rooms can be great options for graduate students. Make sure to select all the relevant features of your property on your Furnished Finder listing, such as wifi, parking, full kitchen, outdoor space, and pet-friendliness to make sure your property is highlighted in their searches since those filters narrow search results.
Tip #4: Highlight your property's proximity to nearby universities and colleges. Include a dedicated section at the top of your property description tailored specifically to this audience. You can also add photos of the university to showcase your close relationship with the campus. Consider offering an academic-specific rate to entice this group. A slight discount for faculty or graduate students (with proof, of course!) could make your rental even more appealing. And here's a little secret: if you provide an exceptional stay for these tenants, they could become excellent references for incoming faculty, helping you find future tenants within this audience.
Tip #5: When it comes to payments, offering online payment options is a game-changer. Credit card payments are highly preferred by this audience, so make it convenient for them. If you list with Furnished Finder, you can utilize our online payment service through our sister company, KeyCheck (opens in new tab).
Tip #6: If you've landed a fantastic tenant, why not offer them a referral bonus? This will encourage them to spread the word among their network and help you find your next tenant within this academic community.
Tip #7: Last but not least, get in touch with the university's off-campus housing department, or the equivalent at your local university, to introduce yourself and share your Furnished Finder listing. Let them know that you're open for tenants and ready to provide stellar accommodations.
So, what are you waiting for? Join Furnished Finder (opens in new tab) and connect with this fantastic group of traveling professionals and academics.