Perhaps you’re getting ready to take a business trip for a few weeks. Or, maybe you’re an investor looking for a way to accommodate a business traveler.
Corporate housing is an accommodation option that offers benefits to people in both categories, says industry expert Brian Ferdinand in a recently published article.
Here’s a rundown on what exactly corporate housing is and why corporate housing makes sense for both travelers and investors today.
CORPORATE HOUSING FOR THE TRAVELER
Corporate housing is temporary housing that travelers can rent out for several weeks. Unlike long-term rental properties, travelers don’t have to worry about entering into yearlong leases.
However, unlike extended-stay hotels, corporate housing units offer more spacious and homey environments filled with high-quality amenities designed to enhance the guest experience.
Today’s top-tier providers of corporate housing have taken steps to create properties that appeal to residents and guests in several other ways as well.
For instance, corporate housing units are often viewed as luxury apartments that offer aesthetic appeal.
In addition, corporate housing managers are passionate about offering secure and safe places for their guests so that they feel comfortable in these units from day one.
Furthermore, even though fraud and scam cases happen to be rare, they do occur with Airbnb.
In fact, some renters who use Airbnb have their vacationed ruined due to relying on unscrupulous hosts.
However, with corporate housing firms, you can rest assured that you will consistently receive fair treatment and that your best interests will be protected every time.
CORPORATE HOUSING FOR THE INVESTOR
A major benefit of investing in corporate housing is that this type of housing is generally easier to manage, according to Brian Ferdinand.
Short-term rental properties, such as those on Airbnb, require constant guest follow-up.
After all, you’ll have to remain in touch with your guests both before and during the guests’ brief stays.
However, corporate housing doesn’t require as much follow-up given that tenants typically stay for 1-3 months. This decreases the number of tenants you have to cater to annually.
Finally, corporate housing firms typically cater to corporate travelers—or those who travel for work or business purposes.
Corporate travelers are usually mature tenants who are focused on their professions and don’t often bring family members along with them.
This decreases your chances of experiencing property damage and will also help to facilitate professional and productive communication between you and your tenant time and time again.