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15 Jan 2021

BRIAN FERDINAND: WHY NOW MIGHT BE A GOOD TIME TO RENT OUT PROPERTIES

Post by Jordan Toplen

During the coronavirus-fueled Great Lockdown of 2020, many businesses were shuttered, and travel came to a halt. However, now, many businesses are bouncing back, and so is travel in many ways. Thus, if you have contemplated starting your own business in the travel industry, then now may be as good of a time as ever. Specifically, you may want to rent out properties for personal or business travelers. Here are some pointers for experiencing success in this industry, according to travel expert Brian Ferdinand in a recently published article.

VALUES

Brian Ferdinand, who is the managing partner of SoBeNY and parent company CorpHousing Group, explains in the recent article that a corporate housing firm can be a rewarding type of business to own. The corporate housing accommodation model is an alternative to the Airbnb model for leisure and business travelers, and it is gaining traction among travelers due to the benefits it affords when compared with Airbnb.

One of the main benefits of corporate housing is that this type of accommodation has developed a positive reputation around the world. This will make it easier for you to draw customers looking for quality accommodations. In fact, CorpHousing Group’s chief value propositions, for example, include service, trust, and safety, and these are values that you’d be hard pressed to find in Airbnb rentals.

ADDITIONAL CONSIDERATIONS

Another major drawback of the Airbnb model is that the company’s platform is a self-service one. This means that if you own an Airbnb property, your guests will have to solve any problems they encounter on their own. This can cause frustration and, in turn, cause you to miss out on repeat business. However, if you own a corporate housing firm, you can hire staff to quickly respond to and address issues right away. This will help you to maintain a strong reputation time and time again.

Another reason to choose the corporate housing model? Reviews of posts made on social media, and criminal background checks are standard among top corporate housing firms. Meanwhile, Airbnb’s policies are relatively lax when it comes to background checks. Thus, if you have an Airbnb property, you are at risk of experiencing vandalism and theft issues.

Finally, Airbnb listings can sometimes be scams or feature misrepresentations, which is why some travelers don’t trust the company’s rental listings. However, corporate housing firms have developed a reputation for providing an experience that is repeatable as well as transparent. With that, drawing customers and keeping them happy may be easier for you if you’re a corporate housing firm owner.

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