Author Topic: Experience renting to corporations?  (Read 853 times)

umterp1999

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Experience renting to corporations?
« on: May 19, 2017, 12:37:57 PM »
Got a call about my vacancy today from a construction company.  They are building a new chik fil a in the area and inquired about my house for their superintendent for until November.  I told the lady that there would be an additional charge due to a short term rental, and for the dog the superintendent has.  She said that wouldnt be a problem.  I can probably charge an extra 50.00 a month due to these factors.  She says the corporation would be paying the rent, so I can pretty much count on the rent arriving every month.

Positives:
Relatively sure bet rents would be paid
can probably get a higher amount of rent

Drawbacks:

Tenancy would end in November, and finding new tenants around the holidays could be tough.

What would you do?  I have two showings this weekend, but no real strong leads at this point. 

Dicey

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Re: Experience renting to corporations?
« Reply #1 on: May 19, 2017, 12:46:59 PM »
$50 doesn't seem like enough compensation for the situation. What does that equat to as a percentage of the rent?
How dog-proof is the house? For sure you'll want a separate pet deposit.
I don't know where your house is, so I can't guess if renting in Nov. will be more difficult than in the spring.
How long have you been on the rental market?
More details, please.

umterp1999

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Re: Experience renting to corporations?
« Reply #2 on: May 19, 2017, 01:20:40 PM »
I could do more than 50 i guess I was just throwing numbers up there.  House has been empty since March-my tenant died, but didnt pay March's rent before she died.  I have had to put about 10,000 in renovations just to get it showable again.  Best case would have been a renter in for June, realistically I was thinking July. 

patchyfacialhair

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Re: Experience renting to corporations?
« Reply #3 on: May 19, 2017, 01:29:48 PM »
You should charge way more for a short term or month-to-month rental. Like, 25-50% more per month. Even more if it's furnished. How much do extended stays rent for in your town? What other short term rental options exist? Answer those questions to help determine the price.

Also, getting a check each month from a corporation may not be a sure thing. You're just a line item on a very large Accounts Payable spreadsheet. You say rent's due on the first? Watch them put it in the mail on the 5th...you don't get it until the 10th.

Source: Used to work in property management. Dealt with corporate tenants at times, most were not "easy" customers for the above reason.