renting to corporates

Has anyone managed to rent their house to a corporate body (e.g qantas etc) rather than just the "normal" private renters? If so, how did they do it and what sort of deal was it?

It happens up here in Newcastle quite a lot. They seem to prefer apartments in this area though. Sometimes companies rent them on a permanent basis for different staff other times they will take them for shorter periods when necessary.

I think you will find that there is a agents who will specialise in this sector. You just need to find them!

Rents are certainly higher however they expect a certain level of furnishing to be provided.

Cheers,

Hi,

I've noticed that some properties in country towns are for sale with a government dept type tenant already in them. Quite often the value of the lease is built into the price. For example if the rent is 12k per year for 3 years, then often the property is 36k more expensive than it should be. My advice is to check out comparable properties and their prices before buying into anything like this, unless you want to be stuck with a unlettable, overpriced property at the end of the lease term.

-Food for thought

Dave

Thanks for your replies.
Dave, I already have the house...I just think it's a nice enough house to perhaps move into the corporate renting area but I don't know how to research it or achieve that. If one could get into the corporate renting side, then with what you say, the value of the house should increase once a deal is secured.

Our company just goes through the normal lease process with real estate agents. Usually we want longer leases than normal (ie 1 year+).

Hi there.

In Gladstone 4680, Bechtel were leasing properties for their workers. They were being sourced through RE agents and then, I think, representatives from their company (who had an office in the town) would go out and check them out.

Perhaps, start with the RE agents?

Originally posted by Jen
Has anyone managed to rent their house to a corporate body (e.g qantas etc) rather than just the "normal" private renters? If so, how did they do it and what sort of deal was it?

Click to expand...

As a property manager we have a number of corporate tenants leasing the properties on our books.

It would be hard for you as an individual landlord and one property for lease to deal directly with the corporate tenants.

How we get get corporate tenants?--

1. Relocation agencies - they act on behalf of many big corporations and get paid by them - we regularly email 15 relocation agencies all properties that may suit their needs.

2. Some property managers have connections with large corporations or industries in their geographic area and inform them of propertties that may suit their needs.

Corporate tenants are usually good payers and take care of the properties, but often only take 12 month leases. As has already been mentioned in a previous post, the longer the tenancy the better.

Thanks to every one for your advice