ok so I'm looking to buy my first property and was wondering if anybody knows about extended stay contracts.. When I lived in Alabama I stayed for a year in a extended stay Hotel..which pretty much meant if I didn't pay my rent on the day they wanted me to.. I would come home and there would be a pad lock on my door.. There was no eviction or ne of that nonsence because it was treated like I was at a hotel.. This also meant I could tell them I was leaving ne time.. Aka no contract.. I WANT THIS FOR MY FUTURE PROPERTY.. I just wanted to know if ne one has ne expierce or knoledge about this.. Also I'm buying in Massachusetts's.
Well, you'd have to be a hotel. Otherwise, you have to follow landlord-tenant laws for rentals, other than hotels - or what would fall under the same category, like a bed and breakfast.
We are currently looking at developing or acquiring an extended stay property. The market is very good for them right now. Typically, the extended stay model is done on a weekly basis. Housekeeping is done maybe twice a week instead of daily. Front desk is not available for later hours. Studio style suites with limited amenities. Its a good business.
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