How does the business model of arbitraging rental properties work?
- Step 1: Enter a lease agreement with property owner for 2-4 years (usually)
- Step 2: Beautifully furnish and invest in the property
- Step 3: Market property on short or medium-term platforms
- Step 4: Carefully vet guests through host reviews, id verification, etc.
- Step 5: Give guests a unique and memorable experience
- Step 6: Clean, repeat steps 4-5 and continue to take good care of the property
Benefits to owner:
- Rent will always be paid on time and in full
- Lease is typically between 2-4 years, offering stability and eliminating vacancy costs
- We insure the property with our liability insurance + $1 million coverage
- We handle a lot of the smaller maintenance issues ourselves
- We will be investing thousands of our own capital to invest into the property through furniture, security cameras, noise aware tools, smart locks, etc.
- Less wear and tear on the property as traditional tenants are LIVING in the unit, whereas my business sees occupancy of about 60% of the year (less maintenance and repair costs for owner)
- Our amazing team of professional cleaners will be cleaning the property 2-3x per week and letting us know of any damages or repairs needing to be addressed immediately – this prevents any long-term damage that go unreported by traditional tenants
- Each guest goes through a thorough screening to ensure they are eligible to stay at the property including validating their ID, careful review of host reviews, etc.
High Elevation HomeStays LLC
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