Offering your units on rent, as a typical landlord, is backdated and the least profitable path to operate in this sector. You can make more money each month with corporate housing. This is a way where you create a turnkey accommodation to those who need long term as well as temporary short term place to stay in Cooma.
It is the service where you can rent out your furnished place to business where all kinds of utilities are included. It is like all inclusive hotels without everyday housekeeping. For example, businessmen or travelling interns or employees will choose an affordable accommodation Cooma motel where they can stay for a couple of weeks or even months. Customize your rent units according to the variety of clients’ needs.
The benefits of a serviced corporate accommodation manifest themselves when the temporary accommodation of 20 days or a month is an issue. Staying in a hotel room for 20 days not only hikes the rentals highly, but also deprives of the feel-at-home ambiance.
The target of apartments for corporate matters is to set an offering which is up to 50% less expensive than a hotel room for saying a month long stay. Set the rent of a room at $50 if it is $100 in a benchmark hotel. If you’re providing 3 bedrooms with 2 washrooms, you can make $150 per night and $4500 per month. It
is much higher than the typical house rent of $1500 per month.
Increase the net income by high end clients who expect to pay extra for premium services. Target workers who tend to stay at home rather than classic hotels and insurance companies who need to place dislocated families for a couple of months.
Quick Tips to Startup
You need to study the competition and also the corporate housing market before you leap in.
- Create a contact with HR managers and travel executives
- Follow the construction bid in your locality and network with the contractor who’s the winner and pitch the rent out choice to them.
- List your place in corporate housing websites. A single consolidated bill is an edge over the hotels. So, keep the account section strong and happy.
- Rentals vary seasonally and hike during festivals as catching the times of high demand is more fruitful than a year’s rents of market rate. You need to operate a decent website too for clientele and advertising.
Get into the research the market and plan properly to start renting out your place to people who prefer serviced apartments than pricey hotels.