Here is a reason to smile for those owning a second home or looking to invest in property. As, the new word spreading in the property market is Corporate Housing. This offers you a chance to earn good returns in terms of rent and also keeps your property in a well-maintained condition. So, scroll down the page and learn about the concept and benefits of Corporate Housing:
1. Concept of Corporate Housing
A fully-furnished property which is rented to a company to accommodate its employees who travel to several cities for a week or 10-days is known as corporate housing. Also, these kinds of properties are enabled with all basic and smart amenities but you the owner is responsible for housekeeping service.
2. Better Return
Opting for Corporate housing is suggested as a better option when you think about renting out the property. Today, the MNCs [Mutli-National Companies] and various other companies have branches all over the world and your city is also no different from others. So, get into a rental agreement with a company and let their employees enjoy a homely environment to live in when they are in your city for an official visit. This is an amazing deal for the property owners as the companies ensure safe, secure and a clean accommodation for its employees as their business depends largely on the workforce.
Corporate housing is also a good option because companies pay way more than what a family can pay as a rent and getting a homely accommodation with smart amenities in a city is always better than opting for a hotel. Being a commercial entity most of the companies pay you annually. So, think about how good corporate housing is as your rental earning can increase by manifold through this kind of property.
3. Essentials of a Property
The companies look for basic conditions before finalizing a deal. So, invest in a primely located property that has smooth and multiple connectivity to various places including workplace, shopping and entertainment arcades and more. No company will rent a property which is not capacious enough to offer comfortable living along with smart amenities and smooth connectivity. So, keep these things in mind when you buy a property to invest in corporate housing.
4. Things to Consider
Make the property client-friendly by adding furniture that suits the requirement of the companies you wish to keep as tenants. Also, look around the small things and try to incorporate folding furniture and easy to use cabinets to make accommodation an easy place to live during an official visit.
5. Focus on Home Décor
Today, people focus on living in a green environment. So, use LED lighting fixtures, solar panels installation for hot water, gas pipeline in kitchen and CCTV to secure premises from any kind of mishap or theft. Also, keep plants in the garden or a balcony of your property to make the guests feel nice and fresh.
6. Keep a List Handy
Take a print out of a list that includes emergency numbers, nearby medical store, grocery shop number, car rental, florist and restaurants nearby. These numbers prove helpful to the guests as people can have a requirement of any of these services.
7. High Rental Income with Growth
We suggest you list the property as a corporate housing on various real estate portals as it makes your property rank high on search. Also, keep a review book and ask the guests to fill it while leaving the premises as it works as a testimonial for your property.