An executive rental, also known as corporate housing is a fully furnished property that is rented out on a short-term basis, typically month to month. These rentals are usually rented out by people who travel to the area for extended business projects or for people relocating for business purposes. An executive rental would come complete with utilities and cable, dishes, linens, and all the necessities so that the tenant only needs to bring clothes and personal items.
Executive rentals are yet another investment strategy that can be quite lucrative under the right circumstances. Location is important since the tenants will most likely be unfamiliar with the area. It would be beneficial if the commute to industry areas was relatively short. Being near grocery stores, restaurants and some entertainment is also helpful. Furnishings would need to be appealing and comfortable and consistent upkeep would be necessary.
The maintenance on an executive rental is more demanding than renting to a long term tenant and that could be seen as a downside. It is also true, however, that rents are typically much higher and the profit potential can offset the high demands.
Lisamarie Wand is experienced in property management and managing executive rentals, as well as with assisting clients with relocation. Whether you are looking to rent a property, or looking to relocate, having an experienced property manager can help make the experience as stress free as possible all while keeping your financial goals at the forefront.