We are continuing our question and answer guide to help real estate agents and their investor clients understand the ins and outs of corporate housing as an investment opportunity for their portfolios.
Corporate housing has been traditionally used by traveling business professionals who are staying in a city for one or more months at a time, or relocated families in need of temporary housing in their new location.
However, today, corporate housing has become a popular lodging option for military families, traveling nurses, visiting professors, doctors, athletes, traveling theatre companies, individuals seeking medical care at a treatment facility outside of their housing area and displaced homeowners who are given temporary lodging by their insurance company when their home has been damaged.
For real estate investors where to buy a corporate rental involves close examination of the location. If you are a real estate agent helping an investor client, choose areas for your clients that are located in or near city centers or near military bases, hospitals and universities.
Avoid buying in a touristy spot unless you want to attract vacation renters.
Great cities for corporate housing include Atlanta, Chicago, San Francisco, Denver, Seattle, Toronto, San Diego, Dallas and Washington, D.C.
You can review rate statistics and trends in the annual Corporate Housing Industry Report and the annual “by owner” report which you can find here.