Income from corporate accommodation

[hello1234]

Hi All,

Scenario - A normal residential apartment in Sydney metro achieves a rent of $440/wk, however by leasing it out as a corporate/short-term accommodation, it can achieve around $750/wk.

If leased out as corporate accommodation, will it affect the borrower's capacity to finance future properties?

How much of the income from short-term accommodation will banks accept to calculate their serviceability?

Thank you.

 

[Rolf Latham]

I have quite a few clients that do that sort of thing

Monthly leases approx, fully furnished.

works a treat.


Needs to be presented to lenders in a particular way, many will accept it, some wont

ta
rolf

 

[Corey Batt]

Absolutely can be done. Not as straight forward as a standard resi lease, but so long as you keep within the parameters - also you'd want to keep within certain yield limits certain lenders impose (CBA, NAB etc)