I Want Media

Top Menu

  • About Us
  • Contact Us

Main Menu

  • Home
  • About Us
  • Contact Us
  • Business
  • Health
  • Marketing
  • Money
  • Travel

logo

I Want Media

  • Home
  • About Us
  • Contact Us
  • Business
  • Health
  • Marketing
  • Money
  • Travel
Business
Home›Business›BRIAN FERDINAND: A LOOK AT AIRBNB VS. CORPORATE HOUSING FOR LANDLORDS

BRIAN FERDINAND: A LOOK AT AIRBNB VS. CORPORATE HOUSING FOR LANDLORDS

By Gareth Willmot
November 16, 2020
234
0
Share:

The idea of growing your bank account by delving into the real estate industry—especially the temporary lodging area—couldn’t be more exciting for you. However, before you jump into the market, it’s critical that you understand all that is involved from a legal point of view. Here is a look at the difference between renting out an Airbnb property versus a corporate housing unit, for example, according to business expert Brian Ferdinand in a recently published article.

AIRBNB VERSUS CORPORATE HOUSING

Airbnb and corporate housing properties differ in that guests pay for Airbnb properties by the night for short-term stays, whereas guests use corporate housing for longer-term stays. The benefit of corporate housing is that the prices of these units are typically competitive and don’t involve as many add-on charges or hidden charges, so they are more likely to draw travelers.

Another benefit of corporate housing is that the units are designed to make guests feel as though you are at home. This can feel like a breath of fresh air for guests who prefer not to feel like transients, which is common in the hotel setting, according to Brian Ferdinand.

AIRBNB AND RENTAL LAWS

The process for booking Airbnb properties mirrors that associated with booking hotel rooms, as Airbnb rentals are short-term rentals. Thus, a guest will simply message a host, and then, the booking process will take place online. Because your guests will likely stay at your property for under 30 days, today’s hotel law will apply. This means that your visitors will pay hospitality taxes on their stays.

CORPORATE HOUSING AND RENTAL LAWS

Because corporate housing stays are usually monthly, a completely different law will apply if you choose to rent out a corporate housing unit. Specifically, for all stays longer than 30 days, the landlord-tenant law and real estate law will kick in. This means several things for you as a landlord.

First, you cannot legally discriminate against your tenants. Second, if you want a tenant to vacate your property, you have to abide by eviction law; otherwise, you cannot legally remove this tenant. Unfortunately, the eviction process can be time consuming and financially costly. In light of this, it is wise for you to conduct background checks of your potential tenants before handing your unit keys over to them.

Finally, leases are necessary to cover the liability associated with stays of more than 30 days. These leases are designed to protect both the tenant and the corporate housing provider.

Gareth Willmot

Gareth Willmot is a serial weird festival collector, coffee snob and a neurotic last-minute traveller who is passionate about marketing, ultramarathons and yoga.

Tagsairbnbcorporate housinghousingreal estate
Previous Article

Joe Cipolla Chicago Based Promoter Talks Future ...

Next Article

BRIAN FERDINAND: TIPS FOR CREATING THE IDEAL ...

0
Shares
  • 0
  • +
  • 0
  • 0
  • 0
  • 0

Related articles More from author

  • Business

    Doing it For Healthcare Workers Fighting Against Coronavirus, Short Term Rentals NYC Step Up

    November 19, 2020
    By Gareth Willmot
  • Money

    Why You Need to Buy Property in Spain

    November 30, 2020
    By Gareth Willmot
  • Business

    William Seegmiller – Handy Advice For Small Businesses

    November 16, 2020
    By Gareth Willmot
  • Business

    Why the Fleet Inspections Are So Important?

    October 28, 2020
    By Gareth Willmot
  • Business

    Ecomm Elite Review: Your Guide On How To Get Started In E-Commerce

    October 13, 2020
    By Gareth Willmot
  • Business

    Why Video And Video Promotion Are An Interior Designers Best Friend

    October 19, 2020
    By Gareth Willmot

Leave a reply Cancel reply

  • Money

    4 Companies That Went Bankrupt Due to Covid

  • Money

    5 ways to save money using a thermal printer

  • Travel

    Check Average Charter Bus Rates and Travel Domestically During Covid

Recent Posts

  • 5 ways to save money using a thermal printer
  • 5 uses of ultrasonic cleaner you never knew
  • How to make video content for your social media page
  • 7 Creative Gifts For Your Grandparents
  • How to plan your vacation to Qatar

Pages

  • About Us
  • Contact Us