Providing Temporary Housing to Benefit Your Bottom Line
At Stellar Housing Solutions, we specialize in providing temporary housing to a wide range of clients. While the needs of our clients are diverse, they all have one need in common: a comfortable, furnished place to call home for a short period of time. Our clients require at least 1 month of housing or longer, with a typical stay lasting 3 months.
Who needs temporary housing?
Our clients primarily consist of the following:
- Travel nurses and other healthcare professionals who frequently work 3 month assignments.
- Corporate housing for consultants, project managers, or company employees on assignment in a new city.
- Insurance companies who are relocating those whose homes have been damaged due to fire, flooding, or other catastrophes. Depending on the time it takes to repair their homes, these clients may need temporary housing for 6-9 months or longer.
How Does Stellar Housing Solutions Provide Temporary Housing?
We work with landlords to secure and set up suitable temporary housing apartments. We have three different methods we can offer depending on the landlord’s level of comfort and available time.
Sublease / Sublet
With this method, we sign the lease with you, make minor cosmetic renovations with your permission and at our expense, and furnish and decorate the apartment. Once that’s done, we begin offering it to our clients who need temporary housing.
We maintain direct contact with the client and are first in line to deal with any issues that may come up. We also hire the cleaning crew to clean and restock the unit between guests.
Benefits to You
- We pay the rent directly to you on autopay every month, so you do not need to worry about late payments.
- We take exceptional care of your property, because our business relies on 5-star reviews from guests. We strive to make sure everything is in tip-top condition at all times.
- Our clients are carefully vetted and make ideal tenants.
Co-Hosting
With co-hosting, you provide a furnished apartment with our guidance on furnishings, decorations, and necessities to ensure that a comfortable and appealing home is being offered. We provide additional services to do the shopping and staging for you! Once the unit is ready for guests, we handle all the marketing, scheduling, cleaning, and client communications.
Benefits to You
- You will collect substantially higher rents than you would from renting an unfurnished apartment to a long-term tenant.
- After the initial furnishing stage, you can expect a passive role moving forward.
- While the income is generated only while clients are residing in the apartments, there is very little commitment required on your part, as we take care of most client interactions.
Consulting and Setup
If you would like to provide temporary housing yourself but aren’t sure how to begin, we offer a multi-layered consulting service to provide you with the tools you need to succeed. Whether it’s guidance in selecting furnishings and decorations, help with staging and pictures, marketing, guidebooks, leasing, communication, etc., we can help you each step of the way.
Before going down this path, it is important to recognize that providing temporary housing is a hospitality business that requires more time and engagement than your typical landlord duties with long term rentals.
Benefits to You
- You receive 100% of the revenue for your efforts.
- The potential to maximize your rental income. Furnished apartments rent for more than unfurnished, and temproary housing commands even higher rents. This is especially beneficial in areas where ordinances place limitations on rents. Please note – this is highly specific to your township or city laws.
- Guests stay for periods of 30 days or more, which means you aren’t subject to the bans some municipalities have against short-term (AirBnB) rentals. Again, it’s important to understand and follow your township or city laws.
