Many real estate investors and homeowners wonder if their property is fit to be a corporate rental. Here are some considerations to help you determine if your property is right for corporate housing:
Furniture: Corporate users enjoy the turnkey nature of corporate housing. If you have dishes in the cabinets and a remote control on the coffee table, your home might be a perfect corporate rental. If your property is currently unfurnished, you can contact your local furniture rental company and see what it would take to get it furnished.
Location: Corporate rentals do really well when they are located near areas of business, such as downtown or near large hospitals, industry, universities, military bases or other large businesses. That said, many use corporate housing during a relocation and want to be located in suburban settings that accommodate their kids and the family dog. A large portion of our listings are located in off-beat suburban or rural areas too!
Size: Take, for example, a small condo with one bedroom and little closet space. It’s probably an inexpensive place to buy and sell, but you may wonder if it’s tough to rent too? Did you know these properties often make great corporate rentals? Short-term renters don’t usually need huge closets and lots of space if they’re just in town for three months. Market those unusual sized places as corporate housing and find cash in your pockets.
Wear and Tear: You may think monthly renters create more wear and tear on a home because the property turns over more, but we beg to differ. Renters who move their furniture and lives into your property each year can create more damage than someone who shows up with a suitcase and laptop and simply borrows the bed for a few months!
Are you an owner considering converting to Corporate Rentals?