Corporate Housing: Should You Allow Weekly Rentals?

It’s likely a prospective tenant will ask if it’s okay to rent your property for only a week.  What will you say? From time to time you may be asked by a potential tenant if you would be willing to rent out your property for a week-long stay. Typically these tenants are looking to book for a future date (ie, a planned vacation). While most corporate housing stays are at least one month long, it’s not uncommon for corporate housing owners to be approached with someone in need of a weekly rental from time-to-time. So should you allow it?...

Keep Your Corporate Housing Lease Terms Simple

In light of the recent short-term rental bans and discussions on future bans across the country, Kimberly Smith, president of Corporate Housing By Owner, offers the following advice to corporate housing owners: “Simplify your life.” “By renting your furnished home as a monthly rental you avoid being impacted by short-term bans that apply mostly to properties marketed and leased as weekly rentals. By offering your property as a monthly rental vs. weekly, you will simplify your life as a busy landlord,” says Smith. There are many benefits to being a monthly rental versus a weekly rental including less transition...

Should Your Monthly Furnished Rental be a Weekly Furnished Rental Too?

An article in the Chicago Tribune a few months ago talked about how some hotels that once only appealed to business travelers are now offering amenities to attract vacationers, especially as business travel continues to declines in the U.S. With business travel down in the U.S., many corporate housing landlords are wondering the same thing: Should they offer their properties for weekly rent and try to appeal to vacation renters instead of or also? I think it’s always great to know your options… and to keep your options open. If you’re looking at offering your property for weekly rent, carefully...