When I moved into my current apartment, there was a couple in my complex who was in town for medical treatment. They were told treatments would last anywhere from nine months to a year. That is a long time to stay in a hotel, where you can’t feel completely at home, so they went in search of an apartment that would allow them to stay just as long as treatments were needed. They felt fortunate to find an apartment that was completely furnished and with a lease that would end when the treatments did.
If you own property close to a large hospital, you could consider opening spots to niche rent to those who are in town for temporary long-term care. Do your homework and ask the hospital what the need for that kind of housing is. You could also ask them to recommend you when patients do ask about housing, if this is a direction you decide to go.
You will need to draw up a different lease, mostly changing the terms of duration and lease termination. You will also need to furnish these apartments with furniture and maybe some extra appliances. Let these medical housing residents know what will be provided and what they will need to bring themselves. This will take a bit of extra work on your part, but it’s another form of niche housing you could consider when trying to market and fill up your properties.
