If you have a rental property, you have probably always assumed you have to rent it out to individuals. One person or family lives there for a year or two, and then they move out and find another one. This approach works for many landlords, but there is another approach you may want to consider.
You could instead rent your home to a corporation. The corporation would pay you each month, and then they let their employees stay in the home as needed. One employee may stay there for three months while they're in town on a certain assignment, and then a new hire may stay in the apartment for a month while they search for different accommodations. Take a look at a few of the benefits of renting to a corporation:
1. You won't have to search for new tenants every year
Every year, or every couple of years when a tenant moves out, you have to go through the process of advertising, collecting applications, and choosing someone who you think will be a good tenant. This is incredibly time-consuming. When you rent to a corporation, they usually rent from you long-term for many years. The various people who move in and out of the apartment all work for the corporation, and you don't have to have anything to do with them; the corporation handles all of that.
2. You'll be paid well
Corporations who rent housing for their employees are usually pretty well-off financially and are willing to pay top-of-the-market prices. They won't typically try to negotiate $50 off the rent as a tenant might. They pay well, and they pay on time. An extra $100 a month to them isn't much to pay, but it will probably make a difference in your life.
3. The corporation will often take care of cleaning and basic maintenance
Since they will frequently be moving their employees in and out of the home, most corporations will do some sort of cleaning and maintenance on the homes they are renting. They may have the carpets cleaned once a year, have the HVAC and plumbing checked, and so forth. You can negotiate the specifics in your contract, and everything they do is a little less you need to worry about.
If you have the opportunity to rent your space out to a corporation rather than an individual, take it. In the long run, it's simpler, earns you more, and requires less work.
If you have additional questions, reach out to a local corporate housing service.
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