If you think Airbnb is the only type of short-term rental properties besides the traditional long-term rentals that you can invest in, you are wrong. Real estate investment is so diverse that it includes types of rental properties that you might have never even heard of, such as corporate rentals. But what is it? And can this strategy be a good investment for you? Keep reading this blog to figure out.
Corporate rentals, also known as corporate housing, is a type of rental properties that targets a specific segment of corporate travelers. Corporate rentals are fully furnished real estate properties of high quality to be rented out to business travelers for a minimum of one month. Corporate rentals are sometimes referred to as executive apartments, serviced apartments, corporate apartments, temporary housing, or short-term housing. Corporate rentals refer to the actual apartments including the services provided such as cleaning, security, and other essential amenities, and they are typically designed for those with jobs that require extended stays in different locations, and all they need to do is bring their suitcase and some food for the fridge.
Keep in mind that corporate rentals are different from other furnished units for rent or short-term rentals such as Airbnb in the sense that corporate rentals should be supplied with high-quality furniture, complete, and well-maintained because they serve high-ranking clients and corporate travelers.
As we mentioned before, corporate travelers are the main users of corporate rentals. Corporate travelers refer to employees who get assigned by their employers to be relocated, to train, or to work on projects remotely, and clients of corporate rentals also include government employees on extended assignments.
