Attention all property owners: this is a game changer! In today’s real estate market, the demand for short-term rentals provided by specialized corporate housing teams like AvenueWest is soaring, according to AirDNA’s 2024 Outlook Report. With peak traveling season just around the corner, now is the perfect time to consider this innovative lodging solution to maximize your rental income and free time to make memories of your own.
Here are four reasons why transforming your income property into a corporate short-term rental is a smart decision, and a lucrative real estate investment.
- Minimize Vacancies and Maximize Income
With corporate housing, you can enjoy a second income stream that outperforms traditional unfurnished rentals across the board. Unlike traditional long-term leases, which often yield fixed monthly rents, short-term rentals command higher rates, particularly in high-demand markets and desirable locations. According to research conducted by Forbes, short-term rentals can bring in about 30% higher profits than long-term rentals.
When you work with a property management firm like AvenueWest, you also get the opportunity to tap into a network of quality tenants who are seeking high-quality rental housing (and are willing to pay premium prices for it). AvenueWest has established connections with Fortune 500 companies, business travelers and relocating professionals who need the convenience, flexibility, and amenities offered by short-term accommodations run for professionals, by professionals. Our extensive client base ensures consistent demand for your property, minimizing vacancy periods and maximizing your ROI. Plus, our seamless transition process maintains minimal downtime between tenants, with an average turnaround time of just six hours!
- Personal Use
Beyond the financial rewards, converting a property into corporate short-term rentals also offers the added perk of personal use—meaning, you can enjoy the benefits of ownership while traveling for business or leisure. While traditional long-term leases may restrict your ability to use your property for personal purposes, short-term rentals provide greater flexibility and freedom to use your own space when you want to.
Whether you want to carve out vacation time at your rental by blocking off calendar days or enjoy a short-term vacancy, furnished corporate housing offers the perfect blend of investment and personal use. Many of our clients share their space with friends, family, and colleagues, knowing that AvenueWest’s Signature Experience ensures a home-away-from-home atmosphere. From well-furnished accommodations to clean linens and towels, we guarantee a comfortable stay for your guests.
- Premium Service, Hassle-Free Management
As an award-winning business with over two decades of experience, AvenueWest is a trusted leader in the corporate housing industry. Our partners benefit from our five-star customer service, industry expertise, and turnkey property management solutions. Whether you’re a seasoned investor or a first-time property owner, you get an expert team by your side to guide you through every step of the process, providing personalized recommendations to suit your unique needs and goals. With our finger on the pulse of the real estate market and a strong understanding of industry trends, we’ll help you navigate the world of corporate rentals with confidence and ease.
Plus, we understand that the last thing you want to be doing is playing landlord. That’s why we handle every aspect of managing your property—from marketing and tenant screening to maintenance and accounting—so you can enjoy passive income without the stress, and your guests can enjoy the 24/7 support they need to feel at home in your rental.
- Equity Growth
Did you know that by the time the average homeowner retires, a whopping 83% of their retirement equity will come from their home’s value? AvenueWest’s experienced real estate professionals can help position your investment property for maximum growth. We’ll provide tailored recommendations to ensure top rental income, from choosing the most in-demand locations to assessing your property’s rental potential. Even properties with seemingly limiting features, like tiny kitchens or closets, can thrive as furnished rentals, offering a unique experience for guests without compromising comfort. Whether you’re looking to leverage your equity for future investments, fund retirement goals, or pass down wealth to future generations, corporate short-term rentals offer a powerful vehicle for building wealth through real estate ownership.
Interested in learning more? Call or email us today. Conversations are always free.
1.800.928.1592
Global@AvenueWest.com
