Do you know what Corporate Rentals are?

Question

Do you know what Corporate Rentals are? They are properties that corporations rent out to provide their employees with a place to stay while they work in a certain area or to entertain clients and VIPs. The great thing about it is that the landlord (real estate investor) gets to earn higher rental income compared to non-corporate rental properties. The rent for these types of rentals is paid monthly, usually on a long-term contract that can last up to two years. This means that property owners can charge higher rates compared to short-term rentals. These properties are usually rented out to companies in a condition that best suits their needs, which includes all the furnishings and amenities they desire.

I currently have two rented to the same company until September 2023.

I currently have two rented to the same company until September 2023.

Charlie Tunstall · Answer

Connor,

2 good content providers I use for MTR...

https://www.youtube.com/@erina...

https://www.youtube.com/@Jesse...

Both of these offer good information re. MTR.  I'm in the process of changing from LTR to MTR on some of my units and have found lots of good advice here.

Ericka Luddy · Answer

I would start with HR departments at local hospitals- find out how they're staffing, are they using 3rd party staffing companies [get the company names/contact info], ask if they have a housing vendor list they send out to new hires, etc.  Then move on to 3rd party recruiters and local companies that are growing/relocating.  It's not one-size fits all but there are a couple places to start. Goodluck!

Doug Spence · Answer

@Charlie Tunstall Thanks for sharing! I'm looking into this strategy in Tulsa.

Ericka Luddy · Answer

In the beginning you'll want to proactively reach out to local hospitals, healthcare recruiters, companies, etc to build your brand/relationships.  We still do that pretty consistently to ensure that we're staying booked.

Account Closed · Answer

Awesome! Do the companies just book it like any other consumer? Or do they reach out to you personally and arrange this?

Nathan Gesner · Answer

It's a technique that's been around for a long time. Some people are referring to it as medium-term rentals, but it's really just a furnished LTR that rents for a higher rate based on the client's needs. Works great for traveling nurses, company employes, temporary housing for people displaced by insurance claims, people between houses or new to the area, etc.

Michael Baum · Answer

My places are pretty rural so this kind of strategy wouldn't work for us.

January Johnson · Answer

I've thought about proactively approaching companies and hospitals in my market and letting them know about my rentals.  So far, I've done a good MTR business to supplement my STRs, but they have been primarily contractors and travel nurses.  Furnished Finders is great for the latter, but travel nurse business has slowed some.

Ericka Luddy · Answer

We do this for our MTR rentals, clientele is great and the higher rates are also pretty nice :)

Sarah Kensinger · Answer

I have also heard this can be a great strategy for rentals! And you know your property will be taken care of since it's a higher class of people.

Do you know what Corporate Rentals are?

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