As the housing slump drags on, homeowners unable to sell their properties are taking an unusual approach. Instead of taking in long-term renters, many are offering unsold properties as fully furnished rentals for corporate housing.
Since these leases are typically short term, homeowners can easily put their property back on the market should the buying activity increase.
Companies benefit because renting private homes can be cheaper and more desirable than traditional corporate housing options.
A host of websites and organizations have cropped up to help homeowners advertise their houses to business travelers and corporations. http://www.corporatehousingbyowner.com/ now has 14,500 registered corporate users in search of private rentals.
It's nice to have options in this tough and strange housing market.
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