If you have an apartment that you would like to sell, but are holding it for a better deal, or if you just want to rent it out, but are not very confident, you can consider corporate rentals. It is a trend that has caught on in the last few years and can be a very profitable turn if done right. Most people who have a spare apartment and like to make some quick cash for a repair or upgrade can also consider letting out as a corporate rental apartment.
The concept is very simple, people on traveling assignments on official duty need a place to stay, and hotels may not be feasible or just too expensive, so they will take rental apartments for short stays.
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Why you should consider corporate rentals?
- Quality clients: Traveling executives are normally high value and priority to the companies, so they will not hesitate to pay well. Also, the people who are going to stay will be trustworthy and come from different backgrounds. The safety of your rental apartments is almost guaranteed.
- Rent: Corporate rental apartments bear a lot more rent per stay than long term tenants, this means bigger incomes for shorter stays, also, the business person may be and usually are alone, which translates to lesser resources used. The cost v/s benefits ratio is extraordinary.
- Flexibility: Rentals usually last a week or maybe a month or so at the most, this gives room and the flexibility to put the rental apartments back in the market immediately. If the company receives good feedback, they will surely keep on coming back, a good list of clientele can be built easily.
If you have rental apartments at your disposal, you should definitely consider the corporate option. It requires a bit more paper work, but the end results are worth it.