executive/higher end rentals

8 Replies

I have a very nice, quaint 1400 sq foot home in Tucson AZ (area of Sabino Canyon Road and Tanque Verde road).  it's in a quiet gated community.  I am moving up the street and would like to hang onto this house and use as a rental.  Can anyone give me their thoughst/experience with higher end, furnished rentals?  My wife is an amazing decorator and we are toying with the idea of leaving all furniture/ammenities in the house and renting to mid-term renters (people relocating needing a place while they get settled, healthcare providers doing residencies etc..)...

I'd really appreciate any feedback from anyone who has experience with this..ideas on advertising, pricing rents, contracts etc....

thanks in advance

Brian

@Brian Mitchell . Is it legal? Are your high end neighbors going to want strangers who are likely ringing heavily in and out all the time? Start with local regulations. Your gated community most likely has regulations regarding short term rentals.

I highly doubt AirBnB going to work in a GATED community. I'd imagine the hassle/logging of your guests by the front gate going to put a damper on that.

Corporate looks like it'd work though and quick google search gives some results.... 

My wife's business utilizes Corporate rentals quite often for her employees.  There are quite a bit of 3rd party sites and agencies that will list your property for short term for a percentage/referral fee which will be helpful as you get started.  I would recommend having amazing looking pictures and possibly having a website to generate your own leads.  

You will be surprised how many people need a 6-12 month rental for their work contract and having a place that looks nice, that is cozy in a beautiful neighborhood is a really big plus.  

I've stayed in AirBnB homes when traveling for work; the company paid the bill and we were surely very gentle on the home and furniture during our stay (who wants to have THAT conversation with your CEO?). I've also stayed in AirBnBs in gated communities; they just provide the door code and the guest lets themselves in. 

Definitely pull the by-laws for the HOA. If they have no stance against it, go for it; you'll be able to provide a high level of service to that place being just up the road. And if you decide in 6 months that it's too much to keep up, you can rent it out long-term in the summer when that season starts picking up.

@Brian Mitchell You can start reaching out to corporate companies within your vicinity and advertise to them. I've met a lady who has a master lease from a hospital where they pay her 10k/month (regardless if it's occupied) and they house patients there.

I would find out from your HOA first what restrictions you have in terms of renting. You might only be able to do once a year or three times a year.