WHAT IS THE REMOTE WORKER RENTAL MODEL?   

RENTING TO REMOTE WORKERS

WHO ARE THE REMOTE WORKERS? 

WHAT REMOTE WORKERS WANT

HOW TO FIND REMOTE WORKERS

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IT IS NO LONGER JUST TRAVELING NURSES

If you are looking for tenants for your mid-term rental, it's time to think about all the options: remote workers, traveling nurses, people that are new to the state, people getting divorced, military and college kids. All of these demographics can be your midterm rental tenants. You just need to get in front of them.

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WHAT IS THE REMOTE WORKER RENTAL MODEL?

AKA, WHAT DOES IT MEAN TO RENT TO TELEWORKERS?

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This is a guide for people that own investment properties or are considering buying investment properties with the intention of (and/or a curiosity about) renting to people who telework (also called, remote workers.) 

 

--> the terms teleworkers and remote workers are used interchangeably on this page.

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REMOTE WORKERS

Because of covid, we strongly believe that remote workers will become an important midterm rental demographic. Likewise, we believe a significant number of teleworkers will be entering Colorado because of its attractive quality of life. 

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There is a huge opportunity to cater to remote worker tenants as they often have solid employment and disposable income.

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The telework rental model is a furnished, 30+ day model that caters to people that want to try living in your city before committing to living in your city.
 

• The remote worker will need a furnished unit

• The remote worker will need 30+ day rents

• The remote worker will need a smaller space

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WHO ARE THE REMOTE WORKERS?​

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Know thy audience. Due to covid,  we know a huge number of people (some estimates put it as high as 24 million) will be working in a city different from where their job is located. It's important to think about who these remote workers are and why they are traveling.
 

• remote workers are in a job or profession that allows them to work remotely

• remote workers are likely single or part of a couple

• remote workers frequently have cars

• remote workers is a good chance they will have animals with them

• the absence of children means remote workers have expendable income

• remote workers are looking for quality of life locations  (access to outdoors or access to culture)

 

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WHAT REMOTE WORKERS WANT​

Reviewing who these people are will give us a good sense of what they want.

• remote workers are in a job or profession that allows them to work remotely

  • the rental needs to have a dedicated work space​

  • the rental needs to have premium wifi

• remote workers are likely single or part of a couple

  • the rental doesn't need to be too big: a studio, one bedroom, two bedroom or three bedroom will suffice​

    • we are looking for opportunities to have offices and maybe a spare bedroom for friends or family visiting.​

• remote workers frequently have cars

  • It's important that you offer remote workers a parking space.​
     

• remote workers is a good chance they will have animals with them

  • when you don't have kids, your animals are your kids, so we recommend making your rental not just animal friendly, but animal welcoming​.

• the absence of children means remote workers have expendable income

  • remote worker tenants can be thrifty or extravagant. We don't think there's a preference here.​

    • some of them will be leading a nomadic/fire lifestyle and want to pay ​less for the experience.

    • some of them will be used to higher end amenities and what not because of where they are in their career and life. 

• remote workers are looking for quality of life locations  

  • If you are reading this from Colorado, you know we have a pretty crazy quality of life: great hiking, skiing, biking, paddleboarding, kayaking, etc., excellent weather, great dog parks, a good food scene, etc.​

  • remote worker renters are not a monolith and will want:

    • mountains, or​

    • the ocean, and/or

    • be in a city, or

    • be in a small town. 

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HOW TO FIND REMOTE WORKERS

Finding remote workers is fairly easy. You can advertise your rental to remote workers...

• Airbnb - just set the minimum stay to a longer duration (usually, 30 or more days)​  

• Furnished Finders

• ZILLOW RENTAL MANAGER
   

WE HOPE YOU ENJOYED OUR GUIDE

If you found this helpful and are considering purchasing a primary residence with a mortgage rental reduction piece (aka, renting a room or your basement to a remote worker), we can help. If you are considering buying an investment with the intention of renting to a remote worker, email us,  we can help.

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         erin@erinandjamesrealestate.com

         james@erinandjamesrealestate.com