How to price a furnished monthly rental for travel nurses

To price a furnished monthly rental well, compare it to other furnished homes near the same hospital, then adjust for what your rate includes and how long the traveler will stay. Your costs set the floor, the local furnished market sets the range, and the inquiries you get tell you whether you landed in the right place.

This guide walks you through each step: choosing fair comparisons, deciding what goes into the rent, handling utilities, understanding how stay length affects both price and the rules in your area, and knowing when to change your rate.

Key takeaways

• The best benchmark for a furnished monthly rental is other furnished homes near the same hospital, not unfurnished long-term apartments.
• Travelers on assignment generally find an all-in monthly rate easier to compare and budget for than a lower rent with separate bills.
• In Canada, GST/HST does not apply to rent when the same individual occupies a residential unit continuously for one month or more.
• Short-term rental rules depend on where you are; Toronto defines short-term as under 28 consecutive days, while B.C. uses under 90 consecutive days.
• Your own monthly costs, including utilities and furniture wear, set the lowest rate that makes hosting worthwhile.
• Treat your first price as a test and adjust it based on how many inquiries you get and what travelers ask about.

Where should you start when you price a furnished monthly rental?

Start with the homes a traveler would actually compare yours to. A nurse on a 13-week assignment is not choosing between your place and an unfurnished one-year lease. They are choosing between furnished homes they can move into with a suitcase, ideally close to the hospital where they work.

To build a fair comparison set, look for homes that match yours on the points travelers care about most:

• Distance to the hospital. A short commute matters after a 12-hour shift. Homes closer to the hospital can usually ask more.
• Type and size. Compare a private suite with other private suites, and a two-bedroom house with similar houses.
• Privacy. A self-contained unit with its own entrance is a different product from a room in a shared home.
• What is included. Utilities, internet, parking and laundry change the real cost to the traveler.

On Travel Nurse Houses, homes show their distance to nearby hospitals, and travelers can search by the hospital they are assigned to. You can search homes near your hospital the same way a traveler would and see what else is listed nearby. Note the range, then place your home within it based on how it compares.

What should your monthly rate include?

A furnished monthly rental is priced as a ready-to-live-in home, so your rate should reflect everything a traveler needs from day one. The more complete the setup, the easier it is to justify a rate at the higher end of your local range.

Most travelers expect a furnished home to include:

• A made bed, linens and towels
• A stocked kitchen with cookware, dishes and basic appliances
• Reliable internet, which many use for scheduling, charting and calls home
• Laundry in the unit or building
• Blackout curtains or blinds for those working night shifts

Extras such as dedicated parking, a workspace or a pet-friendly policy can add value. Whatever you decide, list it clearly so travelers can compare like with like. Here is how the two common pricing styles compare:

Pricing style	What the traveler sees	What you take on
All-in monthly rate	One predictable amount covering rent, utilities and internet	The risk of higher-than-expected usage, especially in winter
Rent plus separate bills	A lower headline rate, with costs that vary month to month	Billing, splitting accounts and explaining charges

Should utilities be included in the rent?

For most monthly stays, including utilities in the rent is the simpler choice for both sides. Travelers are often away from home for a set contract and want to know their housing cost up front. Setting up hydro or internet accounts for a few months is a hassle few want.

If you include utilities, estimate them honestly. Look back at your past bills for the same months, since heating costs in a Canadian winter can be very different from summer. Build that average into your monthly rate, with a small buffer.

A few practical points help keep an all-in rate fair:

• State exactly what is covered, such as heat, hydro, water and internet.
• If you set a reasonable-use limit, explain it in your listing before anyone books.
• Keep your own records. The Canada Revenue Agency's Rental Income guide (T4036) lists utilities you pay as a deductible rental expense.

If you prefer separate bills, that can work too. Just make sure your headline rate is not misleading, and give travelers a realistic monthly estimate so they can compare your home fairly with all-in listings.

How does length of stay change your price and the rules?

Length of stay affects your rate in two ways: the cost of turning the home over, and the rules that apply. Shorter stays mean more cleaning, more empty days between guests and more time spent on messages. Many hosts charge a little more per month for shorter stays and offer a better rate for longer ones.

Stay length also changes how tax and local rules treat your rental:

• GST/HST. Under federal rules, sales tax does not apply to rent when the same individual occupies a residential unit for a continuous period of one month or more. Billing daily, weekly or monthly does not change this, as long as the person has continuous use of the same space for at least a month. Stays under a month can be taxable.
• Toronto. The city defines short-term rentals as stays of less than 28 consecutive days. Operators must register with the city, short-term rentals are allowed only in principal residences, and a 6% Municipal Accommodation Tax applies to rentals under 28 consecutive days.
• British Columbia. Provincial rules define short-term rentals as stays of less than 90 consecutive days. Strata corporations can also pass bylaws that limit or ban short-term rentals, with fines of up to CA$1,000 a day.
• Other cities. Municipalities draw the line in different places, so check your own city's rules before setting a minimum stay.

Because these rules can shape both your minimum stay and your costs, confirm them with your city, your province and the CRA before you settle on a rate. A monthly minimum often keeps things simpler.

What costs set the lowest price you can accept?

Market comparisons tell you what travelers might pay. Your costs tell you the lowest rate that still makes hosting worth it. Work out a monthly cost floor before you look at what anyone else charges.

Add up your typical monthly costs for the home:

• Mortgage interest or the rent you pay, if you are subletting with permission
• Property taxes and insurance suited to a furnished rental
• Utilities and internet, if you include them
• Cleaning between stays and regular maintenance
• Replacing linens, small appliances and kitchen items
• An allowance for empty weeks between assignments

Furniture is a real cost even though you do not pay for it every month. According to the CRA, furniture costs cannot be deducted all at once when you calculate net rental income; instead, they are written off over time through capital cost allowance. For pricing, it still helps to spread the expected replacement cost over the years you plan to use each item.

If the local furnished market sits well above your floor, you have room to price competitively. If it sits close to or below your floor, consider what you could add, such as parking or a longer minimum stay, before cutting your rate.

How should you handle deposits and fees?

Deposits and fees affect what a traveler actually pays, so think of them as part of your price. A low monthly rate with a large deposit or several added fees can feel more expensive than a slightly higher rate with nothing extra.

Deposit rules depend on the province and on how the rental is treated under local tenancy law. In Ontario, for example, a landlord on a yearly or month-to-month rental may ask only for a rent deposit and a key deposit. The rent deposit cannot be more than one month's rent and cannot be used to pay for damage or other costs. Other provinces set their own limits, so check with your provincial residential tenancy office before you ask for any deposit.

Whatever you charge, keep it clear:

• List the monthly rate and every one-time charge in your listing.
• Explain when and how any deposit is returned.
• Avoid surprise fees that only appear once a traveler is ready to book.

When and how should you adjust your rate?

Your first rate is a starting point. The best signal you have is how travelers and agencies respond to your listing over the first few weeks.

Watch for these patterns:

• Plenty of inquiries, quick bookings. You may be priced below what the market will bear. Try a modest increase for the next stay.
• Views or messages but no bookings. Travelers are interested but hesitating. Check whether your inclusions, photos or rules explain the rate.
• Very little interest. Your rate may sit above similar homes nearby, or your listing may not show its value clearly.

On Travel Nurse Houses, travelers message hosts directly, so their questions show you what matters to them. Staffing agencies can also post housing requests with the hospital, dates and budget, and hosts near that hospital are alerted. Those budgets give you a useful sense of what agencies are planning to spend near your hospital. You can learn more on the housing for staffing agencies page.

Review your rate at natural points, such as between assignments or when your costs change. Small, steady adjustments usually work better than large swings.

A fair price for a furnished monthly rental comes from three things working together: what similar homes near your hospital offer, what your own costs require, and how travelers respond once you are listed. Start with an honest rate, describe clearly what it includes, and adjust as you learn. When you are ready, list your home on Travel Nurse Houses so travelers searching near your hospital can find it.

Frequently asked questions

How do I find out what furnished monthly rentals cost near my hospital?

Look at other furnished homes listed near the same hospital and compare them on distance, size, privacy and what is included. On Travel Nurse Houses, you can search by hospital and see each home's distance to nearby hospitals. Use the range you find as your guide, then place your home within it.

Should I charge more for a furnished rental than an unfurnished one?

Yes, a furnished home is a different product, so it should be priced against other furnished homes rather than unfurnished leases. You are providing furniture, kitchen items, linens and often utilities, and you take on cleaning and wear between stays. Those costs and the convenience to the traveler are part of the rate.

Do I charge GST/HST on a monthly rental to a travel nurse?

Under federal rules, GST/HST does not apply to rent when the same individual occupies a residential unit continuously for one month or more. Shorter stays can be taxable. Confirm your own situation with the Canada Revenue Agency, especially if you also host stays of under a month.

Is it better to include utilities in the monthly rent?

For most monthly stays, an all-in rate is simpler for travelers, who want a predictable cost and do not want to set up accounts for a few months. Base your estimate on past bills for the same season so winter heating is covered. If you set a reasonable-use limit, state it clearly in your listing.

Should I offer a lower rate for longer stays?

Many hosts do, because longer stays mean fewer turnovers, less cleaning and fewer empty weeks. A slightly higher rate for shorter stays reflects the extra work. Check your local rules too, since some cities and provinces treat stays under a set number of days as short-term rentals.

How often should I change my rental price?

Review it between assignments or whenever your costs change, rather than mid-stay. If your home books quickly every time, a modest increase may be reasonable. If interest is low, compare your inclusions and listing with similar homes before lowering your rate.