Special offer

Corporate client condo rentals in DC

Real Estate Broker/Owner with DROdio Real Estate, Inc

We often have clients asking us about how to get cash-flow positive rentals.  It's very hard to do in the metro DC area.There is one exception, though, that I've found works really, really well:  rent your unit to a corporate tenant.

 Here's how it works:

  1. You have to offer a fully furnished unit, including dishes, towels, etc. (not hard - just visit Ikea and get the basics). 
  2. You have to be willing to do short-term rentals (3 months+)
  3. You have to pay all the utilities, cable, etc.
  4. Your unit probably needs to be near Metro and be no bigger than 2 BR (1 BR's are preferred) 

If you can cover these 4 items, then you'll very likely be able to land a corporate tenant.  There is often a waiting list for these types of units, so getting a tenant doesn't tend to be very difficult.  Although the term can be as little as 3 months, it's often longer - 6 months to a year.

Corporate tenants are great for a number of reasons:

  1. They pay about 30% more than an average tenant.  Most corporations authorize up to $3,000/month for a 1 BR rental.  Usually you can only rent a 1 BR in downtown DC for $1,800 to $2,000/month.
  2. They take good care of your unit:  Since these are generally executives for large corporations that are living in the units, they often work late and are traveling much of the time.  This means little wear & tear on your unit
  3. They pay their rent on time:  Since the corporation is basically paying the rent (usually they give the executive a certain sum, for rent, and the executive then pays you), the tenant is very unlikely to default.

We work with a very established corporate housing provider in DC who usually has a waiting list for these types of clients.  If you'd like us to introduce you, just contact us at right.