21 Nov Temporary rental for employees: profitable for owners and employers alike
With net annual returns of up to 14% for owners and up to 40% savings for employers, temporary rental for employees proves more than beneficial for all parties. This extends to the tenants (employees) themselves, who won’t get fed up with the coldness of a hotel or outdated apartments not adapted to their technological needs.
More and more sectors are making use of this type of month-to-month leasing in Barcelona. From aeronautics to construction, from chemicals to pharmaceuticals, from industry to consultancy, diplomatic teams, brokers and artists. Production companies are increasingly using these accommodations for their technical and artistic teams.
Is temporary rental for employees really such a great deal? What advantages does this product offer over other legal options for owners of the apartments? And for the companies that make use of them?
More benefits than a conventional rental, more savings than a tourism rental
The number of homeowners in Barcelona who are benefitting from this formula increases daily. Because Barcelona is very attractive for business, there are numerous projects moving their teams here for several months at a time.
This “odd” length of stay (between one month and eleven) is precisely what makes this product viable, because a tourism license is not required to let the accommodation. Those who own a vacant property but do not want to commit to five years of rental can take advantage of these seasonal contracts.
But the advantages do not end there. Temporary rentals for employees do not suffer the high turnover of tourism rentals. This in turn means less maintenance and greater savings of money and time related to administration, check-in, check-out, etc. In addition, these tenants’ priorities are known (work), making them more reliable, and payment for the accommodation is guaranteed by their company. The result? Up to 27% more income per month than in a traditional rental, and a net annual return for the owner of between 12% and 14%.
Savings, professionalism and quality services
In these month-to-month rentals in Barcelona, prices are not set per day but per month. Thus, a company that rents housing for its workers can pay up to 40% less than they would if they were paying for a hotel.
Although the two products work in a very similar way (online booking, signed contracts with digital signatures and easy invoicing), these apartments are fully furnished, have high quality furniture, and usually have everything guests need to live (appliances, supplies), work (WiFi, a desk, chargers, adapters, and a printer) and rest (including cleaning and laundry services).
The employees themselves avoid a long stay in a cold and impersonal hotel room, instead enjoying a modern apartment with designer furniture and all the comforts that make them feel at home. This translates, for the company, into better productivity, and, for the owner, into very positive reviews online. There is no doubt about it: temporary rental for employees benefits all parties involved.