Property owners are often attracted to the idea of letting to a company rather than a private individual, seeing it as more secure and better remunerated.
Corporate lettings encompass many different types of lettings whether it be private or company lettings.
Company lettings common among the expatriate community, as local employees are usually responsible for their own housing. In general, while Brisbane continues to accommodate a thriving and expanding expatriate community, companies are increasingly moving towards company leases.
What is a Company Letting?
A company let is when a company takes on a residential tenancy agreement as the 'tenant', rather than an individual. A company employee then occupies the premises as an 'approved occupant'.
In this capacity as tenant, the company is responsible for all the tenant's obligations under the terms of the lease, including the payment of rent & utility bills.
However, it is common practice for the occupant to pay for the utilities whilst the company pays the rent. The landlord's only concern is that the various costs are paid, and the company is fully accountable for any default of rental payments.
Locations
Unless the property is in a fairly specific part of Brisbane, a landlord may find it difficult to let to a company.
Popular locations in Brisbane include Highgate Hill, Southbank, the City, Ascot, Clayfield, Hamilton, Bulimba, Balmoral, Hawthorne, Paddington, Norman Park, East Brisbane, Kelvin Grove, and Carindale.
Houses within a 5 kilometre radius of the City and that are close to reliable commuter links are also popular.
Traditionally, company leases were mainly in the financial sector, but they are now found increasingly in the information technology, engineering, mining, council and telecommunications industries.
Condition
It is worth bearing in mind that company lets variably require a high standard of decoration, ofter in a fairly neutral style. The demand for furnished/unfurnished accommodation varies, depending on the potential occupant, but if furnished, they tend to require the property to be fully equipped, including everything from beds and bed linen to kitchen appliances, cutlery, crockery and glassware.
Inventory
Companies invariably insist that a formal inventory check-in and check-out is done at the start and end of the lease. The landlord should produce a complete inventory of contents and a schedule detailing the condition of each item, or alternatively Harringtons Property Management can produce this.
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