Taxes: Deduct These Expenses From Your Rental Property

Wondering what expenses you can and can’t deduct come tax time? Many property owners wonder what expenses can legally be deducted from their income. This article will give you some general guidelines, however, you should always consult your accountant and financial advisor for specific advice. Maintenance Fees: Consider deducting any expense you incurred for cleaning, lawn maintenance, painting, carpet cleaning, pest control, and any other general maintenance fees. Also, you may be able to deduct mileage to and from your property, so it’s worth keeping track! Marketing Fees: You can deduct any expense incurred by marketing your property, from hiring a...

Minimizing the Hassles When Renting Out Your Corporate Home

A growing portion of the population — nearly 39 million households — are choosing to rent rather than own their corporate homes, according to the Joint Center for Housing Studies of Harvard University. If you are a homeowner who suddenly finds yourself in the unfamiliar role of landlord — perhaps you need to relocate quickly for a new job or you inherited a corporate home — the good news is that demand for rental properties is expected to remain strong. But even with a strong market, you may be feeling uneasy over all the responsibilities that come with renting out...

Five Ideas on How to Market Your Property to Traveling Business Consultants

Getting in front of the traveling business crowd can make or break your corporate rental’s success, depending on your location. With business travel up, it’s time to think about whether your rental is poised to capture this elite group of tenants. Here are some tips to getting the attention of traveling business professionals in your area. Go where the traveling consultants go. Traveling professionals may be using the Internet to find a hotel or property on their own – skipping the HR department altogether in their search for temporary housing. You want to advertise your property where they go....

Marketing your corporate rental

As a Corporate Rental Owner, are you aware that more than 20% of tenants in “by owner” rentals stay one year or longer? This is in stark contrast to the managed corporate housing industry where the average stay is only 80 days. In the extended stay industry, the average stay is less than seven days according to the 2009 “By Owner” Corporate Housing Report. To best market and optimize your property’s likelihood of attracting desirable tenants, you may want to consider offering the following to prospective renters: List a monthly and/or yearly rental fee in addition to your nightly...

How much should I spend on my marketing efforts?

As a general rule of thumb, corporate housing landlords should dedicate any where from one to three percent of their total annual revenue to marketing and advertising their property. Here are some other general rules of thumb about how to go about successfully marketing your corporate housing rental property: Don’t Limit to Local: Property owners should not only look at local marketing (such as local housing lists, newspaper classifieds, flyers, etc.), but instead turn to national marketing efforts. Furnished properties are being searched for by locals and non-locals looking for temporary living but the majority of people needing furnished...