20 Types of Niche Rentals

This list is meant to be a place where you can find a growing collection of niche rental ideas. It’s a living document – expect regular updates (and typos too).

Let’s not be satisfied until we’ve collected 100 ideas. And, please leave suggestions in the comment section below.

Medical Related Housing

1 – Traveling Healthcare Professionals. Occupational therapist, clinical workers, registered nurses, and residency doctors travel on three month assignments. Details about marketing to them are presented in Airbnb for Landlords 3.0

2 – Serve New Home Builder’s Clients. There’s a need to house people who’ve sold their homes before their new homes, which are under construction, are ready.

3 – Sterile Medical Recovery Housing. People recovering from cancer treatment and surgery need a germ-free environment to recuperate. This creates a niche rental opportunity that requires special cleaning and suitable/disposable  products as well.

4 – Family Housing of Hospitalized Patients. Families sometimes take off months to be near their loved ones. They need an affordable hotel alternative.

5 – Medical Students on Rotation. In their last year of their studies, medical students do one-month rotations at various hospitals in hope of receiving an offer for to attend the hospital’s doctor residency program. It’s difficult for these students to find affordable housing for only one month and that set’s up a niche rental opportunity.

Employer/3rd Party Funded Housing

6 – Actors and Actresses at Local Theaters. Plays run for a few months then the shows rotate. Contact local theaters. Get a list of schedule events. Direct market.

7 -Temp and Interim Job Relocation. Companies are “re-deploying” assets (moving employees) more frequently than ever. Providing corporate housing to a major employer is a wise maneuver. Chain stores often move employees around to open new stores.

8 – Interim Professors. If you’re near a college campus, you might specialize in housing professors who are passing through or have limited time contracts with the university.

9 – Airline Fight Crews. Flight crews regularly need places to stay for overnight and are willing to share a house. If your place is nearby OR you make your place convenient via ground transportation, this group of hospitality workers will reward you.

10 – Military Families. Typically military members move every 2- 4 years. While many will buy many more will rent. Since moving is a way of life for military tenants they are looking for houses to make their homes versus an apartment, etc. – Reluctant Landlord

11 – Temp Housing for Fire/Flood Victims. When there’s a flood, fire or natural disaster, insurance companies scramble to house their insured. Be sure to get on their short list.

12 – Ambulance and Emergency Services Providers. Some crews need to be on call 24-hours a day. And all though they don’t have live-in firs stations, they still need a place to sleep. This is a wonder place for a landlord to serve.

13 – Veteran Housing. Some vets have had difficulties transitioning back into our society. They may have even got into some legal troubles and find it impossible to qualify for housing. There a need for supportive housing and patriotic landlording.

14 – Professional Athletes and their Families. Some baseball, baseball, football, soccer and other major sports teams bring in talent from all over the world for extended periods.Building relationships with your favorite professional sports team may be one of the most lucrative business relationships to pursue.

15 – Corporate Housing. Some businesses will rent your furnished rental on an annual basis to houses their executives and staff that stay for extended assignments. There are plenty of up sell opportunities for you including, housekeeping, private chefs, and car rentals. That’s why I consider corporate housing to be the most profitable use of your rental.

Seasonal Housing

16 – Vacationers and Tourists. Typical Airbnb housing is for people traveling for enjoyment and that don’t wish to stay in a cookie cutter hotel.

17 – Housing for Weddings and Special Events. Large homes or small groups of homes can accommodate these happy events. Add a shuttle/limo service and become an irresistible offering.

Short-Term Niche Rental Ideas

18 – Short-Term Guests of Apartment Residents. If you arbitrage a unit inside a large apartment complex, you could create a “extended stay hotel” just for the guest of that apartment complex’s residents. It is a high-value proposition for any apartment management company and definitely a ninja move.

19 – Inn Keeper of a Short-Term Rental. Many cities are adopting ordinances that restrict how you can use short-term rentals that aren’t your primary residence. By forming a partnership with someone who lives on site, you can create a hybrid short-term rental that captures the most lucrative rates in the best areas of your town. Read the details in my book 40 Ways to Increase the Net Income or Your Rental Property.

20 – Rent Rooms to Public. (Short-Term Stays) Airbnb is one of the best places to make a lot of money with this business model. People, who are looking for an affordable way to travel, are willing to rent a private room and share a bathroom if a permanent host is present. A home owner can make this work wonderfully at their primary residence, however an off-site investor may find it too hectic.

21 – Crypto Currency Backed Short-Term Rental. It’s still too early to know if short-term rentals that accept crypto curencies will gain steam, but it’s certainly an appealing idea to those who are big fans of promoting digital nomad-ism.  The player to watch are CryptoCribs and CryptoBNB.

 

22 – Rent Beds to Public / Youth Hostel.

 

23 – Private Dormitory for Peers.

 

24 – Parole Housing. In this situation, the landlord might rent a home to a non-profit group which, in turn, rents beds to paroles. Typically parolees share rooms for three to four months, transition into having their own room, then they leave the program. The density of “clients” make this niche very profitable.

Long-Term Niche Rental Ideas

25 – Animal Specific – Friendly Rentals. People traveling with horse might stay at a short-term rental listed on HorseMotel.com, but what about people who love their pit bull dogs? More and more renter consider their pets (large and small) to have family member status. Creating a niche rental that caters to Rottweilers, Great Danes, and other breeds requiring additional pet insurance, is a sure way to bring in above market rents.

26 – Rent Rooms to Public (Long-Term Stays). This is the traditional rooming house model. Tenants share bathrooms and chores. In general, this is a management intensive operation and may require an on-site manager to make it work.

Other

27 – Interim Housing for New Home Builder Clients. There’s a need to house people who’ve sold their homes before their new homes, which are under construction, are ready.

28 – College Exchange and International Students.  International student have special challenges that makes it difficult to establish credit and get utilities place in there names. They also have difficulty to passing a typical tenant screening. Therefore need a housing provider that can accommodate them. Students will share spaces with others in there discipline. Check out my Dormitory Business Plan to learn more.

 

Please remember this is a living document that I’m adding to as we try to collect 100 ideas


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3 Responses

  1. Joshua July

    Wow, this article really opens my eyes to short-term rentals! Thank you so much for sharing your knowledge.

  2. Great ideas! I’m in Nashville, TN and there are so many opportunities for these niches to be applied. Another idea might be catering a rental to those involved in the music business, since producers, engineers and musicians may need to stay in town temporarily to record and then move back to their home city.

  3. Great idea Nathan. Put a small studio right in the rental!

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