Thinking about venturing into the real estate investing world? This is a choice that you shouldn’t take lightly.
A combination of in-depth research, commitment, and patience is necessary for you to experience a profitable investment journey and steady income even amid economic fluctuations.
However, you generally can’t go wrong with one real estate investing option in particular—corporate housing investments—according to rental expert Brian Ferdinand in a recently released article.
THE CORPORATE HOUSING DIFFERENCE: WHAT MAKES CORPORATE HOUSING STAND OUT?
In the article, Brian Ferdinand offers an in-depth glimpse at why corporate housing ranks high compared with other types of real estate investments.
In general, corporate housing companies emphasize service with the goal of removing headaches from management, security staff, and guests.
In fact, corporate housing firms employ teams of greeters who are trained to build solid relationships with housing owners and managers.
This enables them to rent out units in the least obtrusive manner possible. Again, this is beneficial for guests, but it also helps with streamlining the property managers’ daily lives.
RELATIONSHIP BUILDING IN THE CORPORATE HOUSING INDUSTRY
With short-term rentals such as Airbnbs, clients usually use the properties for a few days at a time—nothing more.
However, if you invest in corporate housing, you get the opportunity to build strong relationships with employers that have projects and trainings that they would like to regularly send their employees to in your area.
This means that these companies will have to use your housing regularly, which provides a potentially consistent income stream for your firm year round.
Of course, to keep employers and their employees coming back to you, it is paramount that you keep you properties clean for your guests.
Make sure that your units are professionally sanitized between guest stays to ensure the highest levels of comfort possible.
Also, make it your mission to be extremely responsive to your guests and their employers.
Even if mistakes are made or things happen outside of your firm’s control, you can keep your tenants happy simply by letting them know that you are there for them.
Finally, be sure to add some character to your units to make them feel more homey and comfy.
The right design, style, and amenities can help you to leave the right lasting impression on your guests and thus pave the way for more business for your corporate housing company in the years ahead.