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For those of you who live/work in RTP, how would you gauge the demand for a corporate rental with flexible lease terms catered specifically to those who are in the area temporarily for work (or otherwise)? It would be a 1 bedroom, 1 bath all inclusive deal - basically, all the person would need to do is show up & pay - everything else would be taken care of.
Is there enough demand for this that would make it worthwhile or is it a total shot in the dark? I'm an experienced landlord so I'm aware of what could go wrong... I am asking specifically about whether I'd find enough potential tenants.
Thanks in advance for any thoughts/opinions/suggestions!
Don't the various extended stay hotel chains have this pretty well covered?
Yeah. That's what I thought, too. Plus, some of the apartment complexes near RTP do corporate rentals of furnished units for when people need 3-6 months.
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Thanks guys... the fact that there is competition means that there is a potential market for it... so competition doesn't necessarily scare me but I'd definitely have to look into what they're offering vs. what I could potentially offer.
I'd say there is a market for it. You will often see people post here who are working on temporary assignment or looking for short term leases so they can explore the area for a few months before settling in on a community to buy a house.
I stayed at an extended stay when I first moved here before we closed on our house. There were many to choose from back then. Good luck in your venture!
Appreciate the responses so far. I'd list the space on Airbnb, Craigslist (when needed) and work on cultivating business contacts with nearby companies letting them know of this potential option. Any other ideas??
I'd say if you offer it as a pet-friendly rental you'll be in good shape. I'm sure there are others around, but a nice pet-friendly corporate rental would be so appreciated.
I am presently looking for a rental house in the Wake Forest or Youngsville area. I would be interested in a short term rental since I just started my new job. I have found with Corporate Rentals that they are not affordable! My two dogs were never the problem, but the price was. Rental houses with a fenced-in back yard would be nice! Thanks for posting this!
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