Although homeowners have trusted AvenueWest to manage their investment properties for more than 20 years, the advantages of working with a specialized corporate housing team have never been more apparent than in today’s hot real estate market.
With inventory levels at historic lows, many are turning to short-term rentals provided by managed corporate housing businesses to bridge the gap between a home just sold and the one yet to be purchased. With peak traveling season just around the corner, now is the ideal time to consider generating top rental income from your home with this innovative lodging solution.
Here are three reasons why adding your home to the corporate, short-term rental market is a smart, lucrative real estate investment.
The race to own real estate shows no signs of slowing down, and it’s common to underestimate just how much property contributes to wealth over a lifetime; statistics show that by the time the average homeowner retires, 83% of their retirement equity will come from their home’s value.
As experienced real estate professionals, we can help position your investment property for such growth by making tailored recommendations to garner top rental income. We can help you choose an in-demand location for an investment, ensuring there will be a steady stream of tenants, or we can assess your existing property for rental potential. Many spaces we see that present limitations to their occupants actually function well as short-term rentals. For example, properties that have a tiny kitchen or closets make wonderful furnished rentals because they are usually less expensive to buy and don’t compromise the experience of a guest who prefers to eat out and has only a suitcase of items to store.
Monthly cash flow
Dreaming of a second stream of income? Even factoring in occasional vacancies, homeowners steadily enjoy strong demand for our furnished rental inventory which delivers a more profitable return on investment than unfurnished rentals. Our team has built connections with Fortune 500 companies and a diverse group of business travelers who have a healthy budget to put towards rental housing and prefer to rent from a full-service team like ours.
Our extensive client base is looking for rentals all the time, so your property doesn’t have to sit vacant between tenants. Barring any major issues, the AvenueWest team can seamlessly transition your property from one tenant to the next in an average of six hours; this includes proper inspection and preparation for fresh occupancy.
Whether you intentionally carve out vacation time at your rental or make the most of a short-term vacancy, homeowners love the flexibility and convenience of owning a second property. Many of our clients offer their space to friends, family, and business colleagues to enjoy, and rest assured knowing their guests will feel at home thanks to AvenueWest’s Signature Experience; we guarantee well furnished, fully equipped homes with all the essentials, along with clean, comfortable linens and towels.
Finally, in such a hot seller’s market inventory is often a barrier for those looking to cash in on their real estate investments, but AvenueWest homeowners have options; owning an investment property means homeowners have an interim place to stay should they wish to sell their primary residence and take their time securing their next purchase.
We pride ourselves in taking care of every detail to help you reach and maintain your real estate goals, which is why each AvenueWest office is a fully licensed real estate brokerage. Whether you’re in the market to buy, lease or sell property, our professional team is your one-stop-shop, so sit back and relax while we take care of the rest.