Housing is often one of the most crucial components of the compensation package for travel nurses, but it can also be one of the most challenging aspects of the job. It offers the thrilling yet terrifying experience of looking for a new home while being required to sign a contract almost always without seeing it first.
Options for Travel Nurse Housing
1. Agency-placed housing – Your staffing company arranges your accommodation.
2. Stipend pay - You are given a stipend and are responsible for finding your housing.
Agency-Placed Housing
In most cases, letting the agency arrange the house for you would be the less stressful alternative. Most organizations have a housing department on staff that locates properties for short-term leases (often, they have long leases that they rotate travelers in and out). The company can also help you purchase household items like linens and dishes, rent your furniture package, and pay your bills (generally for an extra fee).
Although it's uncommon, I've heard of certain agencies paying for internet and cable. Frequently, they will book you into an extended-stay hotel equipped with all of those features.
If available and if you request it, agencies will typically provide you with two to three housing options to pick from. Still, ultimately they will place you where it is most convenient for them (typically what is currently available and the cheapest). Although you can ask for what you desire, there is no assurance that you will receive it. Discounts that are frequently unavailable to travel nurses are available to agencies.
Stipend Pay
Understanding travel nurse contracts and the company's payment structure for travel nurses is the first step in making a decision on contracts and how a company pays travel nurses. The only money that is taxable is the meager hourly rate that some employers pay nurses (as little as $20/hr).
The extra cash is included in the living and housing stipends, which are exempt from taxes. When booking your agency-provided lodging, some agencies will take a look at the housing stipends and use all of it or a sizable portion of it. You are then left with a meager sum of money you acquired while working. However, you can keep the remainder of the stipend if you secure less expensive lodging.
When you select stipend compensation, you arrange, arrange, and pay for all your accommodation and related costs. The precise monetary amount will vary depending on the location and the terms of your contract, but it is often modified to reflect the local cost of living. The travel agency will give you a weekly or monthly sum for the particular stipend.
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