Here's an interesting profit niche for rental property owners that doesn't get a lot of media attention: Corporate housing.That means you target your furnished rental unit not at long-term tenants, but at people who've been transferred for short to medium-term assignments by their companies, or who have moved themselves to a new work location, and want to take a few months to get their bearings.Or maybe they just need a place to stay while they're waiting for their house to sell … or get remodeled.
The good news about this real estate segment: Corporate housing rentals are more than holding their own in tough economic times, and they often yield more revenue for investors than conventional rentals.According to the industry's trade group, corporate housing rentals had an average occupancy rate of 88.5 percent last year, while standard lodging and hotels were lucky to break 70 percent in many locations.
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About Author:Kenneth R. Harney writes an award-winning, nationally-syndicated column on housing and real estate from Washington, D.C. He is also managing director of the National Real Estate Development Center, a professional education company. He is a past member of the Federal Reserve Board's Consumer Advisory Council, a committee that by federal statute reviews all Fed actions on home mortgage, consmer credit and banking industry regulation.He served as a member of the U.S. Department of Housing and Urban Development's Working Group on Computerized Loan Origination (CLO) systems, and is a member of the Editorial Board of the Fannie Mae Foundation's journal, Housing Policy Debate. He is the author of two books on mortgage finance and real estate.
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