AvenueWest Arizona is a fully licensed Real Estate Brokerage in the State of Arizona that specializes in providing high quality short-term rentals for 30+ day stays via Property Management specifically utilized for corporate housing. We are here to help you answer that question.
There are two main things that need to be considered in determining if a particular property would work for corporate housing: The property itself and then secondly, the owner’s particular goals and needs (YOU).
Each topic is quite involved so we are going to split this discussion into two separate posts: Part A “The Property Considerations” and Part B “The Owner Considerations”.
We will address Part A today: There are a number of items that we take into consideration when it comes to whether a property would work for Corporate Housing:
Minimum Lease Terms – 30 Days
1) First and foremost, if the property is governed by an HOA (Home Owners Association) does it allow for 30-day minimum lease terms? This is the biggest single item that will determine if the property is a good fit, as our corporate clients expect to be able to book for 30 days up front and then extend as their business needs dictate.
Clean, Modern and New (or Like New)
2) Is the property in new or like new condition? Corporate clients expect a higher end hotel experience. This includes newer finishes, modern appearance, complete furnishing package finished with attractive décor, and of course, meticulous cleanliness.
Amenities – Pools, Fitness Center, Dedicated Workspace
3) Are there amenities that come with the property? Historically, access to state-of-the-art fitness facilities and pools are many guests’ main desires. With the changes in the world due to the pandemic, we now hear increased requests for single family houses, and work from home set ups including dedicated workspace and high speed internet.
Location, Location, Location
4) Where is the property located? As the old real estate adage goes: The three things that mean the most in real estate is “Location, Location, Location”. In Corporate Housing that means; is the property located near large employers who are likely to need temporary housing for their staff? Also, properties located in or close to city centers, commercial airports, major medical facilities, and areas of current expansion, historically perform very well as corporate housing accommodations.
Sounds like a lot to consider but keep in mind a phone call with AvenueWest Arizona and we will help walk you through the answers to all of these questions…and get you prepared to answer the question we will raise next week in Part B “The Owner Considerations”.