When companies send staff on extended business travels, they must pick where they will stay. No matter how nice it is, a hotel will never be able to give you the feeling of being at home.
Furthermore, staying in hotels for extended or frequent business trips can dramatically raise a company’s overheads. Many businesses and entrepreneurs are turning to corporate housing as a viable solution.
Corporate housing has changed the real estate game compared to other types of residence, such as homestays, motels, and traditional apartment leases.
Corporate furnished housing brings a positive aspect to real estate by providing fantastic options to make your transition easy, convenient, and pleasant.
Why Corporate Housing is Important
Corporate rentals are furnished apartments or houses rented to traveling business people by corporate housing organizations. Corporate rentals are usually move-in ready and equipped with as many amenities as possible to make guests feel at ease. These units are typically offered for both short- and long-term stays.
The liberating sensation of entrusting the work of locating temporary lodging for your vacation is perhaps the strongest motivation for choosing a corporate housing provider to acquire your business rental. A firm that excels at what they do can modernize the housing process, allowing you to focus on more essential things while knowing that your accommodation needs will be met.
How It’s Changing the Real Estate World
Since corporate housing/leasing came to light, the real estate world has been turned upside down. Let’s take a closer look at the ways it has changed.
Lease Terms are more Flexible
One of the changes corporate housing brings is the flexibility of the lease lengths. Many corporate housing leases are month-to-month rents, with periods starting at just one month. In addition, in corporate housing, the lease is usually in the name of the corporate housing firm or provider.
The company will then sublease or provide the accommodation to one of their clients as a tenant. This allows businesses to use furnished lodging for their employees and contract workers without committing to a 12-month lease.
Revenues are Maximized
Like any other rental market, the corporate housing market is becoming adaptable and dynamic. Before renting to corporate clients, it is essential to carefully consider the demand for these properties in your area and your own property’s occupancy capabilities and unique selling proposition.
Depending on your market, you will want to investigate modifying your corporate housing rental property to match the demands of a long-term client or a group of corporate clients that could profit from it. You can increase your profit margins by planning and going above and beyond to outperform your competitors. To make the job easier, you can hire a professional leasing company like Global Property King if you have a vacant property and want to lease it for corporate use. Global Property King will ensure you get the maximum rent and will make sure your property fulfills all the requirements a company is looking for.
Real estate has strived hard to play a role in helping us live healthier, be more productive, and have connected lives. And the industry is prepared to meet the demand.