The short-term rental market doesn’t just cater to tourists and occasional travellers; more and more companies are looking for flexible housing options for their employees on short- to medium-term projects. Whether for executives on temporary assignments, work teams on new projects or employees in training, short-term rentals for companies are a convenient and adaptable housing solution. This article explores how landlords can take advantage of this trend and how tenants (in this case, companies and their employees) can find the best accommodation for their needs.
1. What is a Temporary Rental for Companies and Why is it So Popular?
Temporary corporate rentals are properties rented to companies for their employees' use as housing. These stays typically range from a few days to several months, depending on the length of the employee's project or assignment.
This model is gaining popularity for several reasons:
- Flexibility: Offers short-term accommodation options that allow companies to adjust the length of stay to their needs.
- Controlled costs: Compared to long-term hotel stays, short-term rentals are often more cost-effective.
- “Homey” experience: Employees benefit from a more comfortable and private environment, which can improve their well-being and productivity.
Advice for Owners: Including in your listing that the property is available for corporate rentals can help you attract the attention of companies looking for temporary accommodations for their employees.
2. Advantages of Temporary Rentals for Companies: For Owners and Tenants
For Owners:
- Stable occupation: Businesses tend to book for longer periods, which reduces guest turnover and generates more predictable revenue.
- minor wear: Employees who occupy temporary rentals usually take good care of the space, especially if they are staying for longer periods of time.
- Good reputation and visibility: Having a property that businesses frequent can boost your reputation in the market, as most businesses are looking for stability and good service.
For Tenants (Companies and Employees):
- Economy and flexibility: Companies can benefit from better rates for longer stays and adjust dates according to the project.
- Employee Convenience: Employees enjoy more amenities than in a hotel, which can reduce the impact of commuting.
- Adaptation to specific needs: Some short-term rentals offer options like furnished apartments with full kitchens and workspaces, perfect for employees from different sectors.
Advice for Owners: If you want to attract corporate clients, set competitive rates for long stays and offer flexibility in check-in and check-out dates.
3. Key Features Companies Look for in Temporary Rentals
Companies often look for certain features in a short-term rental that allow them to provide a comfortable and functional experience for their employees. As a landlord, consider offering:
- High speed internet connectivity: Ideal for employees who need to work from the property.
- Furnished and equipped: Fully furnished apartments with kitchen facilities are a plus, as they allow the employee to have a “home” experience.
- Cleaning and maintenance service: Companies value regular cleaning services, which can be weekly or biweekly, and prompt assistance in the event of maintenance.
- Parking and security: Parking spaces and a safe neighborhood are essential for employees who work long hours or must come and go frequently.
- Proximity to the company or the city center: Location is key to minimizing employee travel time.
Advice for Tenants: Before renting a property, check the features carefully and ask about possible additional services. If you plan on staying for a longer period of time, you can also negotiate certain details with the owner.
4. How to Prepare Your Property for Corporate Leasing
For property owners who want to attract short-term rentals for businesses, it is essential to adapt the property to these types of guests. Here are some tips:
- Provides a workspace: A comfortable desk and ergonomic chair will help employees work productively from the property.
- Provides practical amenities: Make sure the apartment includes basic appliances such as a microwave, coffee maker, and washing machine, as well as kitchen utensils and dishes.
- Decorate with neutrality: Opt for a sober and professional decoration that will appeal to a wide audience. Avoid personal or flashy decorations.
- Efficient cleaning and maintenance strategies: Ensure your property is always in perfect condition and schedule cleanings between each stay to maintain the quality of the space.
Advice for Owners: Highlight these benefits in your property description to attract the attention of corporate HR managers.
5. Flexibility in Contracts and Cancellation Policies
Companies value flexibility in rental agreements, as work assignments can change or be extended. To make the process easier, it's ideal to offer flexible cancellation options and the ability to extend the stay when needed.
- Contract period: Allowing customized stay periods, ranging from weeks to months, helps attract more business customers.
- Cancellation policy: Consider flexible cancellation policies, such as a penalty-free cancellation period with one or two weeks' notice.
Advice for Owners: Negotiate directly with the company to adjust contracts in a way that benefits both parties, and establish a clear and fair cancellation policy.
6. Reputation and Security in Corporate Temporary Rentals
Security is essential for corporate short-term rentals. Companies want to know that their employees will be in a safe environment with a reliable landlord.
- Liability insurance: Make sure you have insurance that covers any accidents or damage that may occur during your stay.
- Privacy Protection: Respect tenants' privacy and ensure the property has adequate locks and security measures.
- Comments and ratings: Companies often look for properties with good reviews and reputation in the market. A good rating increases the likelihood of attracting more corporate clients.
Advice for Owners: If you have good references or feedback from previous clients, include them in your profile. This inspires confidence in potential corporate tenants.
7. Tax Benefits and Financial Considerations for Landlords and Tenants
For landlords, offering short-term rentals to businesses can also have tax benefits. In addition, in some countries or states, landlords may qualify for specific tax deductions for short-term rentals.
- Tax benefits for owners: Consulting a tax advisor can help you understand the deductions available in your area for short-term rentals and improve your profitability.
- Clear billing and agreements: Companies often prefer contracts with clear billing details to organize their finances and justify their hosting expenses.
Advice for Tenants: By hiring temporary rentals for employees, companies can reduce costs related to hotels and additional services, which improves their budget.
Conclusion: Temporary Rentals for Companies, an Opportunity for Both Parties
Temporary rentals for companies are a beneficial solution for both owners and companies. With the convenience and flexibility it offers, this type of rental has gained popularity and is becoming an ideal option for companies looking for short-term accommodation.
For landlords, fine-tuning their properties and practices can attract a steady stream of quality tenants, ensuring continued occupancy and good referrals. For businesses, opting for short-term rentals helps improve employee well-being, while allowing for greater cost control than traditional accommodation.
If you are a landlord, consider adapting your property to the needs of corporate rentals to make the most of this growing niche. If you are a tenant, make sure to choose a temporary rental that offers comfort, flexibility, and all the necessary services for a productive and enjoyable stay for your team.
