Apartment and Condominium Rentals
Thinking about renting your condominium or apartment? Here are few ways you can generate revenue to go from being a condominium owner, to a condominium investor.
Traditional long term condominium 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 condominium 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.
Short term and AirBnB condominium rentals
If you own an apartment, either as an investor, or as a home-owner, you know there are ample expenses of maintaining a properties. Even as a homeowner, you are ultimately an investor. This is because your home is likely one of the biggest, if not the biggest, purchase you’ll ever make. So to be able to use your investment to generate a higher return is a no brainer.
AirBnB, HomeAway (r) and other websites allow you to rent your condominium apartment to vacationers in your area for a short period of time. This could be as little as one night, and extending well into months. One of the benefits of this site is the ability to rent your apartment or condominium when you are away on a personal or a business trip. We have another blog about short term rentals, click here to read more.
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 colleage as a means to share living expenses.