EP: 282 Why Corporate Housing is Better Than Short Term Rentals with Angela HealyJul 06, 2022
Working smart is always better than working hard especially when it comes to real estate investment. If you’ve been stressed out in dealing with the responsibilities that come with short-term rentals, maybe it’s time to shift to corporate housing.
In this episode, Liz and special guest host Stephanie welcome Angela Healy to talk about why it’s smart to invest in the corporate housing niche. She breaks down the business model she used to grow her portfolio and discusses everything we need to know to get into the space: from finding the right property and partnering with corporations to navigating regulations on corporate housing.
Angela Healy is the co-owner of multiple AvenueWest Managed Corporate Housing Franchises and AvenueWest Global Franchise, LLC, an award-winning, woman-owned business that delivers real estate investors a turnkey solution for property management. During her tenure, AvenueWest has grown exponentially from a small real estate investment brokerage to a national, award-winning franchise organization, representing annual gross revenues above $20 million and over $150 million in residential real estate under management.
• “Corporate housing is kind of that sweet spot in between the two. You get the benefit of a higher rental rate than you would on furnished. But you don't have all the pains of dealing with the nightly’s, the unfurnished tenants not treating your property well. (11:19 - 11:37)
• “Because the corporations are renting the properties for their employees or consultants coming in on assignments, people aren't doing anything to the corporate apartment that will make them get disciplined at work.” (11:39 - 11:51)
• “If you're paying top dollar for the property… they're looking for the best of the best. They're looking for the Ritz-Carlton of corporate housing. You need to be able to provide that product. (19:03 - 19:23)
• “We want to work smart… but how do you also work smart so that you're not burning yourself out? That you're able to provide and get that next property, and the next property, and the next property?” (20:52 - 21:05)
• “Change is good for corporate housing. People coming and going, all of that creates the demand.” (33:48 - 33:53)
• “We're doing this for our families. And if you're working so hard that you miss them growing up, then you're going to blink and they're going to be 30. You're going to miss it. (42:56 - 43:08)
Connect with Angela:
- Corporate Housing by Owner
- Don’t Sweat The Small Stuff. . . and It's All Small Stuff by Richard Carlson
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