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The following was written by guest blogger Al Williamson of LeadingLandlord.com.
Landlords have always had the ability to woo business travelers to their rentals.
But now that online travel agencies such as Airbnb, HomeAway, and TripAdvisor are mainstream business, it’s become even easier.
A corporate rental may be defined as a dwelling that’s leased directly to a company or a business traveler who is provided a housing allowance. Simply put if a company is paying for the rental, and not the tenant, then it’s a corporate rental.
When a company is paying for their employees or contractors to work remotely, that tenant:
- Will behave and not embarrass their employer
- Will have a binary attitude towards your rates. Either they are within their allowance or they aren’t.
These two characteristics make business travelers ideal people for your rentals.
The Corporate Rentals Trend
Business travelers find that with short-term corporate rentals, they are able to afford more home-like conveniences for less. They are able to cook their meals have more privacy, and have a richer travel experience when they don’t stay at a hotel.
That’s why the trend in corporate housing is spiking – especially when a traveler is on an assignment for 30 days or longer.
Extended stay business travelers actively search for houses and apartments to live in. Many want to live in neighborhoods and not near freeway off ramps.
Now, is it possible that you could furnish a rental to accommodate corporate travelers? Could you earn hotel-size money instead of market rents?
How Much Can You Earn from Corporate Rentals
The Government Services Administrations (gsa.gov) maintains a list of daily hotel rates for various cities throughout the United States. Their website provides per diem housing rates for each calendar month.