If not, then maybe you should.
Corporate tenantcies are to employees who work for companies that, generally, have agreed to cover the costs of renting a home for their staff members.
This is invariably due to these employees are moving to a new part of the country or who are on secondment to a different part of the business.
Major cities tend to attract the majority of corporate renters, but even in certain rural areas, some employers often need rental properties for temporary staff, new employees pr thiose on secondment.
Companies like to give their staff an accommodation allowance, letting them find suitable accommodation for themselves.
For landlords, the advantages are obvious. Corporate tenants come with the security of regular rental payments with, therefore, a reduced risk of arrears and, all being well, disputes. They may, however, be more demanding.
They are likely to be on a fixed-term contract, so will sign up for a tenancy agreement of two to three years, depending on their employment arrangements. And as most are highly-paid professionals, they will be happy to pay a higher monthly rent if they find the right property. Happy days we hear you say!
In most cases, corporate tenants have extremely high expectations. They will demand value for money
Furnished property is generally favoured with high quality fixtures and fittings. "If you wish to attract top corporate professionals, then you have to provide the wow factor that makes your property more attractive than anything else being offered in the same building."
So, what are corporate tenants looking for exactly? As we stated above, it is high-quality decor, fixtures and fittings. Renters moving from outside of the area will look for fast, accessible local transport links, top class amenities and good schools should they have children.
Corporate tenants expect their properties to be spotlessly clean and well-maintained. They will expect to have a reliable point of contact who can quickly resolve any problems. High class property management is, therefore, a must.
A readily available dedicated property manager and the reassurance of either an on-site concierge or a 24/7 service is essential.. So if you are a landlord thinking of going down this route, contact us for advice. Our property managers will be happy to advise you. Please go to our group site, www.unaliving.co.uk for further information.
Mary-Anne Bowring FIRPM FRICS FARLA FCABE Founder/Head of Asset Management
Strategic partnerships, holistic delivery/ opportunities, growth, value engineering, thought leadership
Ian Barber MD BTR Mobilisation & Leasing
Runs HQ & site lease-up teams. Drives rent pricing, mobilisation, marketing, happy residents!
Jon Curtis MRICS Head of Building Engineering
Chartered Building Surveyor. Lectures on EWS1 & building safety. Runs CapEx programmes.
Kate Robinson MIRPM MD Blocks/FM Management (London Region)
Master plan setup, ops and staffing and resident engagement. ISO45001 champion.
Lee Harle Partner Ringley Law
Plot conveyancing. Debt litigation. Group Company Secretary.
Anthony Kingdon MIRPM AssocRICS MD Blocks/FM Management (North Region)
Stakeholder engagement. Mixed tenure specialist. Budget management. Plant audit, PPM compliance.
Chris Georgalis MRICS Head of Commercial Valuation
Chartered Valuer. Rental valuations: retail, leisure. IRR modelling and valuations for secured lending. Compulsory purchase & rent reviews
Nichola Pughe MRICS Head of Residential Valuation
Chartered Valuer. Rental development & mixed use valuations, IRR modelling. Leasehold enfranchisement specialist
Libby Chen MSc Compliance Manager
Operational Plant & Equipment strategy PPM Compliance lead, Asset tagging Client major projects
Dipesh Parekh Director PlanetRent
Customer centric, vertically integrated PropTech/fin-tech solutions.
Leana Aristodemou MIRPM MARLA AssocRICS Strategic lead: ESG & Asset Business Plan delivery
Financial modelling, valuation analyst to support underwriting & fund reporting.
Natalie Birmingham Helpdesk Support Manager
Trainer & Helpdesk Manager: people, systems,contractors. ISO45001 supply chain accreditation.
Steve Norman Planning Director
Land due diligence (opportunities & constraints) Has contributed to a number of award winning schemes.