Many landlords can potentially make much more money by offering corporate housing for their rental properties. In some cases, renting a furnished corporate rental can bring in up to 3 times more money than a typical long-term 1-year rental. 

Corporate housing is usually the most appealing to executives or employees who spend a lot of time traveling or contractors that stay in certain cities for 30-day plus stays.

So what is a corporate rental?

Corporate Rentals are typically fully furnished, including utilities and other potential amenities or services. It allows these types of tenants to allow the amenities of a home without the cost of a daily hotel. Some people can choose to advertise their corporate rental to luxury clients who prefer luxury condos and high-end furniture, or a blue-collar employee who doesn’t need the frills and high price tag.

Corporate rentals typically compete with both Hotels & Airbnb’s or short-term rentals whose prices are typically much higher since they’re priced at a nighty price point, and not monthly.

Some of the downsides of corporate rentals include higher marketing costs, more turnover and wear & tear, higher cleaning costs, and potential wear and tear on furniture which can often lead to furniture replacement or repair.

Corporate housing isn’t for everyone. Although the upside of higher rent may seem worth it, most corporate housing units see more vacancies, and owners are typically responsible for paying for all utilities, cleanings, furniture and items replacements, and higher cost of advertising. However, if the unit is well furnished and advertised, it could be a great answer for those that aren’t interested in short-term leases or long-term leases.

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