Corporate housing benefits the travelling businessperson in many ways. Corporate housing allows a weary traveler to experience home life without having to buy or rent an apartment for long periods of time. The experience can be great because the cost is relatively cheaper than a hotel, yet it offers more than a hotel in terms of living experience.
Corporate housing can also benefit property owners in the St. Louis, MO area. The ownership of corporate housing can be very beneficial for several reasons. Depending on many external factors such as the condition of the house, location, and marketing strategy, a property owner could reap many benefits from being a corporate housing provider. Here are some simple benefits that a homeowner can experience with corporate housing.
- Stream of Income: The money may come inconsistently from month to month in corporate housing, but it does come with time, patience and proper marketing.
- Tax Sop: For short-term rentals, depending on how long the tenant stays at the corporate housing facility, the rents collected by the owner can be tax-exempt in some cases. If the owner of a corporate housing unit rents out a property for 14 days or less, the rent paid is tax-free. This can save a lot of money for homeowners in the future should they decide to become corporate housing landlords.
- Relevancy: Unless scientists and engineers can create houses that can fly to any location, corporate housing for the most part will always be relevant. Some traveling executive or big business person will always be looking for a place to stay that is of high value and low cost.
- Area: The area in which the property is located will allow an owner to create a niche client depending on the type of businesses in that area. For example, if a number of bankers have to attend a business expo for a few weeks, where are the bankers likely to look? At the corporate housing options closest to their business destination. So the corporate housing owner can create his or her own monopoly in an area by just renting to select clientele.
- In Demand: Corporate housing is becoming more and more in demand because of all the benefits associated with living in a corporate house rental. These benefits include short-term leases, the comfort of living in a home away from home environment, and not having to deal with the high cost and low privacy of a hotel.
The relatively cheaper corporate housing rentals in St. Louis, MO, can make life easier for both the owner and the renter. The owner benefits because he or she has created a source of income with short-term rentals. To succeed in this business, like any business, demands only time and effort.