Take five minutes to Google a term like “short term rental problems” and you’ll see that it is not a shortage of corporate housing options or listings for those who wish to rent a furnished apartment. Instead, it is that a lot of home owners in all parts of the country are looking to crackdown on short term rentals in their neighborhoods.
As we discussed in Don’t Break the Law When Renting Your Corporate Housing Property, websites like HomeAway and Airbnb face a lot of regulatory challenges because they allow a high amount of traffic (and risk) to flow into apartment buildings and neighborhoods. Because of that, homeowners’ associations, and town or city governments are starting to make laws about such rentals.
Corporate Housing is Different
If you are looking to rent a furnished apartment, and are worried about the laws, consider whether it would be suitable as corporate housing instead. Why? There are a few reasons. The first is that you are going to require at one-month stay at the very least. This is entirely different from a long weekend stay or a holiday visit.
Secondly, when you rent your furnished apartment to a corporate client, you can do thorough background and credit checks, and know the quality of all tenants you welcome into the area.
Naturally, when you do offer corporate housing, you still need to be certain it is still allowable in your area. As CHBO’s Jeremy Blackburn advises, “It is very important to know your local city regulations and laws. Especially since so much has been under radar recently with short term rentals.”