Why Is Someone a Corporate Housing Landlord?

Posted on February 1, 2012 by CHBO

In the coming weeks, we’ll be sharing key findings from the 2011 “By Owner” Corporate Housing Report, an annual survey sponsored by CHBO to better understand the “by owner” rental marketplace. The latest report was released in January 2012 based on 2011 trends.

It’s no secret that the primary reason for being a corporate housing landlord continues to be the opportunity for long-term investment, with nearly half of all survey respondents (47%) saying they are a landlord so they can cash-in on long-term investment opportunities.

These stats may signify a few insights worth noting. For one, it may indicate that a large percentage of corporate housing landlords treat their investment property as a serious business, not as a side-hobby. And two, it signifies the continued interest in real estate as a sound, long-term investment strategy for those that do it right.

Here is a breakdown from the survey of why someone says they choose to be a corporate housing landlord:

  • Investment property – Optimize revenue from a long-term investment property: 47%
  • Can’t sell – Offset costs while waiting for the residential market to improve: 17%
  • Vacation rental – Offset costs of owning a vacation home: 14%
  • Primary residence – Offset costs of former residence not being used: 15%
  • Other – 7%

What is your primary reason for being a corporate housing landlord?

Download the report online at http://www.corporatehousingbyowner.com/corporate-housing/2011chboreport or by clicking on the button below.

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Posted in Corporate Housing 101, Financial Legal and Tax Insights for Property Managers, Property Management Toolbox, Real Estate Investing | Tagged Corporate housing, Rental Market | Leave a comment

CHBO’s New Insurance Offering Takes the Hassle Out of Security Deposits

Posted on January 31, 2012 by CHBO

In today’s competitive rental marketplace, offering your guests a travel insurance protection plan is a must. That’s why CHBO has teamed with Travel Guard, the name known and trusted every year by millions of travelers and thousands of companies nationwide.

As you may have heard, we at CHBO have partnered with Travel Guard to provide your guests with a positive experience with your rental property and you. But with common travel problems like flight delays, travel injuries and illnesses, unpredictable weather and lost or stolen luggage more common than ever before, a guest may end up remembering you for all the wrong reasons. That is why we are now offering the All Seasons Travel Plan and the All Seasons Travel Plan with Cancel for Any Reason.

Make Security Deposit Hassles a Thing of the Past!

The single biggest complaint among many property managers is the hassle that comes with managing security deposits. With Travel Guard’s Accidental Rental Damage Insurance (ARDI), security deposits could be a thing of the past. ARDI is an insurance plan designed to address the inherent complications associated with security deposits. It allows you to facilitate the repair of covered accidental property damage without requiring a security deposit from your guests. When included with your guests booking, ARDI can help provide coverage if your property or its contents are damaged during your guest’s stay.

For more information please visit: CHBO Travelguard Insurance page.

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Posted in Property Management Toolbox | Tagged Corporate housing, Insurance, Security Deposits | Leave a comment

Masters Week Housing Presents Opportunity for CHBO Owners

Posted on January 25, 2012 by CHBO

Do you have a property in or near Augusta, Georgia? If so, make sure you’re taking advantage of the scores of people that will be flooding into town looking for housing and short-term rental properties during the Masters Tournament this year.

With the Masters Tournament less than three months away, make sure your property is poised to cash in on this opportunity. Here’s how:

1. Add “Masters Tournament Housing” keywords to your listing.

2. Begin promoting your property to friends and anyone you know who might be coming to town. Facebook and Twitter are excellent ways to connect your property for rent with someone in need of a rental.

3. Mark your availability calendar. Make sure potential tenants know your property is open for business during the days leading up to the Tournament.

Jane Fuhrmann, the president of Tournament Housing and Events, told the Augusta Chronicle that the rental market grows bigger every year and this year is no exception. Rental agencies and housing agencies are optimistic this year – so is Corporate Housing by Owner.

Need Masters Tournament Housing or housing near Augusta or Atlanta? Check out CHBO for details.

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Posted in Promoting and Marketing a Rental Property | Tagged Corporate housing, Marketing Your Corporate Rental, Special Events Housing | Leave a comment

Market Your Property as RNC or DNC Housing

Posted on January 18, 2012 by CHBO

Last week we talked about how thousands of citizens, policians, journalists and “entourages” that will soon be embarking on the Republican National Convention’s and Democratic National Convention’s host cities – Tampa, FL and Charlotte, NC respectively.

If you own a corporate rental in one of those cities, think about ways you can begin strategically marketing your property now. It’s likely there will be lots of demand – so you’ll want to adjust your rental property accordingly.

Some tips:

1. Add keywords. In your property’s description, write “near” or “within XX miles of” the “Republican National Convention” and other keywords that might spark some interest in your property. Writing things like “Republican National Convention Housing” is a must. Remember, Google indexes many individual property pages, so keep it keyword rich!

2. Adjust your rates. Remember, there will be top demand for housing in these host cities, so adjust your rate to reflect such demand for your area leading up to the Conventions.

3. Begin now. Remember, there are many people planning, scoping and canvasing these cities in preparation for these momentousness events, so start marketing your property as a RNC or DNC Housing property available for rent now.

4. Keep your calendar open. Chances are if your property is close enough to the RNC and DNC action, you’ll want to try and keep your calendar open to accommodate visitors who are coming for several or more weeks. We obviously don’t want you to say “no” to other renters, but just be aware of these events and what that might mean for your rental property. Knowing and planning ahead is a powerful tool to maximizing your rental’s income potential.

5. Freshen your listing. You’ll want to put your property’s best foot forward, so freshen your pictures and make your property look “presidential” for the occasion. Competition to attract the best tenants will be fierce.

Good luck!

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Posted in Promoting and Marketing a Rental Property | Tagged Corporate housing, Marketing Your Corporate Rental, Special Events Housing | Leave a comment

Talking Politics: How to Find Quality RNC and DNC Housing

Posted on January 11, 2012 by CHBO

While most of the country is all a buzz with primaries and caucuses, it’s likely that few Americans have given much thought to the Republican National Convention in Tampa, Florida on August 12, 2012 and the Democratic National Convention in Charlotte, NC on September 3, 2012. Mind you, however, the RNC and DNC will be bringing in thousands of citizens, politicians, journalists and lots of “entourages” in the week’s leading up to each event.

With mountains of people attending such National Conventions, it’s time to think about and plan for your housing options.

Instead of staying in a hotel for weeks and even month’s on end (especially the RNC and DNC planners that will be living in these cities for several months prior to the events), consider corporate housing as your lodging alternative.

A corporate rental will provide you with a fully furnished apartment home away from home where you can get away from the hustle and bustle of politico life and enjoy a relaxing evening spent inside.

So if you’re looking for RNC Housing or DNC Housing, consider finding your next corporate rental at Corporate Housing by Owner.

Tampa Housing / Republican National Convention Housing

Charlotte Housing / Democratic National Convention Housing

 

 

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Posted in Corporate Housing 101 | Tagged Corporate housing, Special Events Housing | Leave a comment

Furnishing Your Corporate Rental – Corporate Housing By Owner Featured in Costco Connection

Posted on January 5, 2012 by CHBO

Kimberly Smith, CEO and Founder of Corporate Housing By Owner is featured in the January 2012 issue of the Costco Connection where she discusses the corporate housing industry.

A point she touches on in the article is the importance of properly furnishing a corporate rental.

“A short-term renter won’t be bringing furniture, so you’ll have to supply the furnishings and accessories in every room,” says Smith.  “These don’t have to be the best, but they should be sturdy, clean and of good quality.”

Smith recommends Costco to those starting out as corporate landlords when outfitting their properties.  Costco is known for their value buys.  Plus it’s unique in that you can buy a new sofa, TV, dining room set and kitchen accessories and appliances all in one place.  Business travelers and other short-term tenants expect a fully furnished, home-like setting from a corporate rental.

Costco also helps corporate housing landlords stay on top of their tenant’s needs by stocking up on paper towels, toilet paper and cleaning supplies.  These household staples are all items that landlords will be responsible for supplying.

Costco truly is a corporate housing property owner’s one stop shop!

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Posted in CHBO in the News, Property Management Toolbox | Tagged Corporate housing, Property maintenance | Comments Off

Why Business Travelers Should Consider Renter’s Insurance When Staying in Corporate Housing

Posted on December 27, 2011 by CHBO

Recently, Corporate Housing By Owner partnered with Travel Guard and offered a webinar to provide landlords with information on renter’s insurance options for their tenants.

 

As a business traveler, you may think insurance is just for the owners or landlords of corporate rentals (it’s not your flat screen television or expensive furniture).  However, you may want to (re)consider the following:

  • Renter’s insurance will cover your personal belongings in case of a fire, flood or any liability issues.  If the property you are renting experiences any damage from the outside elements, the owner’s insurance will cover expenses and repairs. But let’s say your computer, iPad, cell phone and expensive business suits you are traveling with are destroyed from the overhead sprinkler system that was set-off due to a fire, who will replace those items? If you have renter’s insurance, they will be covered.
  • Renter’s insurance will cover any hotel costs you may incur if the unit you are renting becomes inhabitable during your lease term.
  • Renter’s insurance also covers you, the renter, against any liability if someone is injured on the property and tries to sue or if any property within the rental unit is damaged by fault of your own – such as breaking a glass table or damaging a wall

If you are interested in obtaining renter’s insurance, shop online, or inquire with the insurance company that covers your car or business (discounts are usually offered when you add renters insurance along with your current policies). Also, many CHBO landlords offer low-cost insurance policies if you need short-term insurance only. Check with your landlord if this is something you’d like to consider.

Hopefully you’ll never have to use the insurance during your extended travels, but as the saying goes, it is better to be safe than sorry.

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Posted in Business Traveler Advice, Tenant Issues | Tagged Business travel, Corporate housing | Comments Off