Robert Lett in Cheyenne, Wyoming, emailed in a great idea for our $100 Idea Challenge!
He recommended setting up an apartment to provide corporate housing. The terms need to be that a company pays rent even if the unit is vacant.
A savvy Leading Landlord would then stay in contact with the company’s property manager/coordinator to find out when they didn’t need the unit. Then instead of allowing the unit to sit vacant, you rent it out on a short-term basis.
This tactic gave Robert double rent for the same apartment!
It’s easy to see this tactic bringing in more than $100 extra per month. In fact, the idea is so powerful, you don’t even need to own the rental to make money using it! We’re going to add the idea to the “Active Landlord – Passive Tenant” category of the idea matrix. Click HERE to see an updated version of the matrix.
Use websites like airbnb.com and Craigslist to advertising your temporary housing offer. You should have good success.
Robert warns that maintaining the furnishings is a down side, but I think the double rent is worth it.
Find out more about Robert Lett at www.BuyWyomingHomes.com
He is looking for investors and joint venture partners. Robert blogs at www.buywyominghomes.com/blog
Facebook and LinkedIn: Robert Lett