The Boss Rented in Vancouver, Liked it, and Bought a Piece

Corporate executives and skilled professionals are often called to another city for

extended stays to carry out important business and their companies must administer lodging arrangements so as to satisfy both the needs of the executives and the budgetary allocations. Tax deductions in the expenses column shouldn't look overly-lavish; most businessmen don't normally stay in penthouse suites or luxury villas for months on end and a mile-long hotel room-service bill with restaurant meals three times a day would make any accountant recoil in horror. The executive may want more space than a claustrophobic hotel room, and if he is traveling with family members the bills multiply accordingly. In one case, a manufacturing company owner I know wanted to attend a three-week conference in Vancouver B.C. as he liked the idea of getting away from the endless heat of Florida in favor of more temperate climes. He had never been there before and started looking for someplace handy to put himself up for the time he'd be exploring the city. As an old hand at business, in the past he had used agent companies that specialize in first-class furnished apartments and houses. He believes in dealing with people who are in the same city so rather than search for a national website he contacted a corporate suites provider in Vancouver to help him book a nice apartment. He was able to look at available units and make a reservation that suited him. His first two objectives were secured: he was all set to go relax and network with business contacts at the conference and he saved about a half on what a hotel would have cost. He also wanted to travel around the area and take advantage of the restaurants and entertainment. When he arrived, the suite was to his liking - very spacious and it had a kitchen and nice desk where he could set up a virtual office. A maid came to clean regularly and, like all windows in Vancouver, there was an amazing view. The weather was refreshingly rainy with sunny periods, a break from the stifling humidity of Orlando where you're either sweating or frozen by air conditioners. If all that sounds easy, it's because a growing industry has sprung up to cater to the needs of extended-stay temporary corporate accommodations. A typical business tenant may be staying between a few weeks to several months, so the unit will serve as home-away-from-home. The whole family may be coming along, as is in the case of many sports stars, famous entertainers, and all around rich people. (To clarify, the adjective "rich" means those people who can count their money...wealthy people already have a home in every location they want to be in and they have to hire several companies to count their money for them.) Getting back to my friend...he also was involved with property management and owned apartment buildings and he invested in real estate. Diversifying is always in the back of people's minds when the economy plummets and swallows entire sectors like it did the residential housing market in 2008. His holdings were good ones but he is always on the lookout for a safe investment. He checked out the Vancouver condo market and added another objective to his itinerary: getting in on the corporate housing market by buying a condo and listing it with the company as a suite to offer on their database. It turned out to be a very stable investment and the percentage profit was healthy at the very same time that mainstream property ownership was turning into a dead loss for many residents and investors.

The Boss Rented in Vancouver, Liked it, and Bought a Piece

By: Pat Boardman

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