If you are looking into investing by offering corporate housing, it’s essential to know the pros and cons. It can be a lucrative decision, but there can also be inconveniences you aren’t aware of. We’ll share what you need to know before you jump into this option without all the information.
Pro: Flexible Rental Terms
One of the great things about offering furnished rentals is that many offer month to month leases. That means you can take advantage of providing housing only when it’s convenient for you.
Con: Need to Deal with Tenants
With corporate housing, tenants are going to come and go regularly. This means working with many different people and trying to make a positive impact on them. Being friendly and fair to each of them is an excellent way to ensure additional bookings.
Pro: Opportunity to Enter a Lucrative Industry
You can’t deny that offering furnished rentals places you in one of the most lucrative industries out there. The industry is worth a ton of money, and you can get a piece of the pie reasonably easily by merely showing up and doing a good job.
Con: Hassles When Accepting Payments
Sometimes it can be stressful keeping up with all the ways that tenants can offer payments. With furnished rentals using CHBO, this process is made simple, and you can take payments over the website.
Pro: Can Grow Portfolio Quicker Through Cash Flow Opportunity
If growing your portfolio is something crucial to you, corporate housing may be the ideal option. This kind of rental opportunity tends to make much more money than traditional renting. By making additional money, you can grow your portfolio and be ready for the next investment that comes your way.
Con: May Be Downtime in Between Tenants
Since furnished rentals are often rented for short periods, there may be downtime in between tenants. However, this also gives you the chance to continually market for the next tenant who may be looking for your space.
Pro: Minimal Maintenance Requirements
Most of the people who are moving into corporate housing are professional and may not even be spending much time in the space. The company usually funds the stay, so tenants are careful to be respectful of your home and belongings. Investing in corporate housing shouldn’t be taken lightly, but there are many positives if you choose to do so. When you find solutions to the cons, you can make a lot of money and enjoy being in good company with many others who offer this service.
Let CHBO Help
When it comes to finding the perfect condo for rent short time, Corporate Housing by Owner can help you find the right option. A quick search will offer you insight into possibilities you won’t find elsewhere. Take a moment to see exactly what kind of homes you can stay in near your new work location.
For all inquires, please contact:
- How do you pay for your Monthly Furnished Rentals
- Do You Accept Credit Cards for Payment in your furnished housing business?
- What to Know About Contactless Move Ins for Rental Properties
- Don’t Use These Property Images When Marketing Your Furnished Rentals
- Short Term Rental Owners – Now is the Time to Accept Pets!