Imagine watching money flow into your account regularly from the rental properties you own. The exciting part of real estate investing is that you can increase your cash flow without having to punch a clock over and over again. However, the investment strategy you choose will ultimately determine your level of financial success. This is why many investors are turning to the corporate housing model, according to business guru Brian Ferdinand in a recently published article.
WHAT IS CORPORATE HOUSING?
Corporate housing targets specific segments of today’s corporate travelers. This type of housing goes by several additional names, including corporate rentals, executive apartments, corporate apartments, and short-term housing. Other names for it range from serviced apartments to temporary housing.
In the recently published article, Brian Ferdinand explains that these types of rental units come fully furnished and are known to be of high quality. In addition, they come with essential amenities, such as security and cleaning services. As the owner of corporate rentals, you would rent out your units for at least one month at a time.
WHO USES CORPORATE HOUSING?
Corporate housing is designed for people whose jobs require them to stay in various locations for extended periods of time. They may be traveling to work on a project somewhere else temporarily, for example.
However, corporate housing clients also include those who are required to train in certain locations for a few weeks at a time. In addition, some people use corporate housing as a temporary home when they are relocating to take on new job positions at companies. A government employee who has to go on an extended assignment can take advantage of this type of housing.
With corporate housing, clients simply have to bring their suitcases along with some food to go in their refrigerators. In light of this, you’ll need to supply your guests with top-tier furniture that is well maintained and complete, as your goal should be to create the perfect home-away-from-home atmosphere for them.
Note that when you rent out corporate housing units, it is critical that you view your guests as clients who are high ranking. After all, their employers will likely be the ones covering their corporate traveling costs. If you keep your guests happy, you’ll make their employers happy. And as a result, you can expect to continue to receive a stream of clients from those employers in the future.