Have you ever stopped to wonder why most corporate housing landlords do the work they do? Reading through the 2019 CHBO Corporate Housing Real Estate Report answers this question, along with others that you may have had on your mind. No matter what your personal reason is to rent corporate apartments, it’s always interesting to know what’s going on with others like ourselves. Below we’ll share the top reasons to be a corporate landlord.
Top Reason to Become Corporate Housing Landlords
Respondents to the survey that led to the creation of the CHBO report explain in no uncertain terms why most landlords do what they do. More than three-quarters of those offering corporate apartments (78%) claimed the top reason for being a landlord is for investment purposes. That wouldn’t be the case unless people were making decent money renting out fully furnished homes through CHBO.
It’s also interesting that out of hundreds of survey responses in everywhere from Washington, California, Georgia, Texas, and Colorado, this remains the top reason to own and rent corporate lodging options. Considering these results, if you’ve been on the fence about jumping into the field, this might be the perfect time.
Some People Rent a House that Doesn’t Sell
Another reason that some choose to become landlords with corporate dwellings is because the home is not currently selling. However, keep in mind that only three percent of respondents indicated this is the reason they rent. This is not the most common reason, but it is a legitimate one. While your house is on the market or you are waiting for the residential market to improve, renting the house can be a reasonable alternative to leaving it open and ignored.
Others Want to Offset Costs of their Current Residence
In 2018, nineteen percent of the respondents noted offering corporate apartments as a way to offset the costs of their main residence. This is done when the owners move into a larger or more appropriate house, but the original property is still owned by them. By renting the space out, the extra money can go to bills and other needs for the home that family is living in.
Becoming part of the world of corporate housing landlords can occur for many reasons, but the most common is to use the home as an investment property. Why are you a corporate landlord?
For all inquires, please contact:
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