A seller with no offers on a house can collect income while waiting to sell by entering the house into the corporate housing pool. Corporate housing is an area that few sellers or landlords consider when a house is listed, and without an occupant. At www.corporatehousingbyowner.com, companies planning to relocate an employee can search for furnished housing by region and enter into a lease agreement of negotiable length. Some other websites offering similar opportunities are www.rentalspacenetwork.com and www.condo.com.
In addition to traditional corporations, lesser-considered organizations actually offer even more potential for tenancy. The military, for example, is a large segment of the corporate housing market, relocating about 600,000 people per year. Another group is traveling nurses, averaging 200,000 moves per year on assignments ranging from two to twelve months in duration. Business relocations, summer internships, traveling entertainers, insurance adjusters, and medical patients are just a few more examples of those who frequently opt for corporate housing.
A home occupied by a corporate tenant has a built-in human security system, in that the home's occupancy can be perceived by nosy outside parties. Additionally, it can be part of the agreement that the house be shown during the tenancy, and vacated in the event of a sale. So long as the house is clean, easy, and comfortable, a furnished place will be attractive to any number of people with various reasons for a lengthier stay than a hotel might encounter. Quality and security are, of course, of the utmost, so a house located in a neighborhood perceived as unsafe will be a more difficult one to rent. Naturally, one that is decorated attractively will warrant consistent occupancy, for the dormitory look is most certainly a less popular one!
Corporate users are willing to pay a premium for flexibility due to the nature of their needs. It is simply worth the extra money to have a furnished, clean place with a short-term lease for the entirety of their business travel. The going rate for such an opportunity depends largely on location. A major city with a transient business market can supply unlimited renters with the budget for convenience, delivering perhaps $3900 for a unit that might otherwise rent for only $2000 unfurnished.
There are a few things to consider before becoming a corporate landlord. For starters, attention to detail is essential. Linens, silverware, functioning amenities...all of these must be set in place before engaging into an agreement. Another important tip is that a renter will likely be calling from a list of prospective corporate rental properties, and with sometimes quite short notice, so be prepared to return a phone call very quickly. Lastly, a prospective corporate landlord must be aware of association rules, legal requirements, and possible limits on rentals. Some associations, for example, will place limits on number of tenants per year or a length of stay. Rules vary from state to state as well, with some requiring owners to collect a lodging tax for a stay under six months in duration. Armed with pertinent information, being a corporate landlord can become a fruitful way to maximize your home ownership in anticipation of a sale.