Real Estate Tips for Corporate Housing
To take the best advantage of HighStreet’s specialized knowledge, it’s important for real estate investors to know what our future residents need – before they make their investment.
You want to maximize your return on investment while minimizing risk but real estate investment properties are not all created equal.
Our experience in this niche market has taught us a lot. We are happy to share.
- A view of water, mountains or parks is attractive but not essential;
- 2, 3 or 4 bedroom suites with a minimum of 2 or more full bathrooms are most frequently requested;
- Structurally in great condition (floors, doors, walls, kitchen, bathroom(s), & etc.);
- Open balconies, sunrooms, and/or home-office spaces are pluses;
- Master bedroom must fit a Queen- or King-size bed, and other bedrooms must fit a Queen- or extra-long Double-size bed;
- Living room should comfortably seat 4 people in a one bedroom suite and minimum 6 people in all 2+bedroom units;
- Dining table must seat 4 people in a one bedroom suite and minimum 6 people in all 2+bedroom units;
- Must have in-suite laundry and dishwasher;
- All appliances must be in great condition;
- At least one dedicated parking space per suite;
- Sun-exposed suites will require air conditioning units.
- Location, location, location! Check with us to see what’s hot when YOU are in the market, but pay attention to
- Proximity to public and rapid transit (within walking distance is ideal)
- Close to shopping (groceries, pharmacy, banking, & etc.);
- What’s around the corner? Transitional neighbourhoods are problematic
- Fitness facilities are important, while lap pools and hot tubs are optional;
- Should be relatively new or in fabulously well-kept condition; condition of exterior grounds, interior halls, elevators, entrance ways, common areas, and other building facilities must be excellent;
- Concierge/Front Desk service is a plus;
- Excellent maintenance, including preventative work, is very important, so check Strata minutes for activity; avoid buildings with pending envelope issues, also known as “leaky condo” issues;
- Provide current building bylaws and rules to HighStreet before purchasing;
- Clean, well-kept and safe;
- Loud noises emanating from railroad yards and fire halls will make a property unsuitable.
- New construction in immediate vicinity can be noisy, dirty and unpleasant for residents.
With hundreds of properties throughout Vancouver, Greater Vancouver, and the Lower Mainland, we’ll be able to tell you if we’ve worked with a particular property or building before.