How to turn your apartment into a corporate apartment

How to turn your apartment into a corporate apartment Popular belief is that you can go to a furniture store and pick up a furniture bundle, get a deal where you pay interest only and no payments for 2 years and you got yourself a corporate apartment.  I would like to think it was this easy and fast but the reality of it is much more work involved and tedious. To start you must follow this basis steps to insure you can turn your unit into a corporate apartment

1.              Is your apartment complex/ community / bylaws allow for short-term rentals. Short term rentals are defined by rentals shorter than 6 months and more specifically less than 30 days to be categorized as a vacation home

2.              Zoning and License: Many county and municipalities have strict zoning and license laws that do not allow for rentals less than 30 days or monthly rental and your county should have this information handy

3.              Taxes: Corporate apartments and vacation homes much like hotels are required to register with their state and pay sales tax and in some county’s like Miami-Dade you must also registered with Miami Dade tax Agency to collect sales tax and report it monthly

4.              Insurance : Landlords should at all cost look into having a liability policy in place before venturing into corporate housing or vacation homes. You are putting your apartment / condo for rent to the public, and in-turn a greater due diligence and greater responsibility is placed on you to make sure that you have a safe and danger free apartment

5.              Credit Card / Payment options: In our fast pace world we live in today most guest want to have the booking experience done in fast and safe manner and less and less are guest willing to send a check in the mail and only then have their reservation confirmed. They want to be able to go into a secure site and have a reputable company person handle their sensitive credit card information and be able to pay for their deposit / stay and do it quickly. You would then need to find and be able to process credit card payment as part of your corporate housing venture 

6.              Inventory : Your furniture package is a combination of many items in your apartment  and much like your own there are many that you may use sporadically like a can opener or potato peeler, but when a guest is cooking and he or she assumes its there it can trigger a phone call , review, and ultimately a new purchase. You would then need to take into consideration that the more you put into the apartment the less headache you will encounter

As you can see above there are many points to consider when making such a decision and there many more items to consider before plunging into corporate housing / vacation home venture and if you do decide its for you we can provide you with further information and resources to get your started correctly .
Author: Franco Battistini