If you have been on the market for a new home lately, you might have noticed that the current housing market in many areas has a supply shortage. Home sale prices have hit record highs, leaving prospective buyers to bid over asking price, waive inspections and even pay above appraised value. And it’s still a gamble if they will win the bidding war. This housing shortage has trickled down too, leaving rentals and vacancy rates to hit record lows and causing price inflation in the rental market. This impacts travel nursing.
Travel nursing requires most candidates to find a short-term place to live, typically a lease of roughly three months. Low vacancy rates affect whether a traveler can temporarily move to your area. With pay rising across the country, facilities are looking for additional ways to stand out and attract candidates. More travelers are looking to secure housing before accepting an assignment, due to the risk of potentially not finding a suitable place to live. Here are some tips to prevent the housing shortage from affecting your prospective travelers:
Leverage partnerships with local hotels
See if a local hotel near your facility or campus is willing to block rooms for a travel floor or give potential employees a special rate. Hotel partnerships and long-term hotel stays are preferred by travelers due to the ease of booking and the typically convenient location to the hospital. Another plus is that they generally have vacancies and availability. Hotels are often willing to negotiate because you have something they want: consistent guests and stays.
Share local references
Sending candidates a list of referrals for nearby rentals is a great way for a traveler to start looking at housing in your area. This helps them jump right to the reputable locations that have been used before and provides peace of mind that their rental is reliable and traveler friendly. These references are especially useful if they come from employees at your facility who know someone renting their place to travelers, or if they are renting space for travelers themselves.
If you have housing accommodations available, now is a great time to start offering these to travelers. Medical Solutions can roll the accommodation into the pay package and adjust the bill rate accordingly if needed.
Ultimately, travelers are looking for a safe and easy place to live while they are on assignment. Making this easier will attract candidates who are looking for accommodations and leave them more time to focus and prepare for their upcoming assignment.
I started at Medical Solutions seven years ago as a college intern. I have been on the Account Management team for six years and enjoy the inspiring people I get to work with every day. My favorite part of my job is the opportunity to connect with people all over the U.S., make new friends and help them with their staffing needs. I grew up in Jacksonville, Florida where I also attended college at the University of North Florida and majored in Economics. I live in Jacksonville with my husband, Mitch and my pup, Myla. Outside of work, I love reading, traveling, and hanging out at the beach with my friends and family.