On February 7, 2010, there will be a Super Bowl in Miami, FL. Every hotel room and corporate apartment is going to be booked, and not just by the 75,540 attendees who will be flocking to the stadium. There are also the cheerleaders, the high school dance teams, the Super Bowl Half Time Show performers, not to mention the NFL Teams themselves. And on top of that, every local restaurant, bar, and performance venue will be bringing in entertainment of their own, hoping to capture some of that extra business.
Here’s the catch: Any stay less than 7 months in Florida gets hit with the sales tax. And there’s something else you should be aware of… Although there are local corporate providers in Tampa (See SCH’s Tampa page), your best bet once you’ve exhausted this resource is the private owner. However, beware: Florida is facing the highest rate of foreclosure of any state in the US, at 18.81% as of last March. Which means two things:
1.) Many, many private owners are looking to rent out their second home to corporate housing.
2.) Be extra careful whom you rent from, so that your tenants don’t end up getting locked out of their apartment by the bank.
Here are some options for marketing your corporate apartment:
1.) Auction it off on eBay.
2.) Craig’s List. In this case, it’s not a bargain hunter’s paradise.
3.) Shop Corporate Housing.