Thinking about becoming a condominium investor. Here are few ways you can generate revenues to go from being a condominium owner, to a condominium investor.
Traditional long term rentals
Not everyone wants to be a home-owner, there are many reasons why some people consider renting an apartment for their accommodation. Condominiums become a great choice for young professionals, retired folks, students, and small families.
Furnished Rentals
One of the optimal revenue streams for condominium investors is renting units furnished to professionals such as consultants, doctors, engineers, and military personnel who often travel for work for 4 month, 6 month or a year to different cities for work. The amount of money they would have to invest to setup and furnish their home is quiet steep if they are only there for a short time. Furnished rentals end up being an idea opportunity for these types of renters. They are often comfortable with paying a slight premium to avoid the cost and head ache of furnishing their home away from home.
Co-habitation
We all hear news about the property market being out of reach for millennials. But knowing them, they often find creative ways to bring about innovative and positive change in our society. Many young professionals, and graduate school students prefer to co-habitat with their a friend and colleague as a means to share living expenses.