Atlanta, Denver among most searched cities for corporate, furnished rentals

We have our pulse on the furnished rental market and temporary housing trends!

Below is a list of the top 25 cities searched on CorporateHousingbyOwner.com. Atlanta, Denver, San Diego and Dallas top the list of the most queried cities for temporary, furnished apartments.

What this means to you? If you're offering a traditional rental in any of these markets, consider converting it to a corporate, furnished rental because demand is on the rise and you may be in for a more lucrative rental experience.

Top searched cities on CorporateHousingbyOwner.com (CHBO)

1. Atlanta
2. Denver
3. San Diego
4. Dallas
5. Chicago
6. San Francisco
7. Las Vegas
8. Phoenix
9. Los Angeles
10. Philadelphia
    
11. Washington DC
12. Seattle
13. Portland
14. Minneapolis
15. Austin
16. Houston
17. Boston
18. Sacramento
19. Colorado Springs
20. Miami
21. San Antonio
22. New York
23. New Orleans
24. Charlotte
25. Detroit

Helping Your Renter Save Money with a Fully Stocked Kitchen

Staying in a corporate rental can save a traveler a lot of money - especially considering the cost of eating out these days! To help your renter eat-in, make sure you stock your kitchen will all amenities your renters will need to prepare meals for themselves.

What kitchen supplies should you provide in your corporate rental? Here's a checklist to help you get your kitchen up to par:

Place Settings:
Studio apartments - dishes/table setting for 6
1-2 bedrooms - dishes/table setting for 8
3+ bedrooms - dishes/table setting for 10

Kitchen - Accessories:
Blender
Broom/Dust Pan
Coffee Maker
Dishwasher
Fire Extinguisher
Garbage Disposal
Icemaker
Microwave
Mixer
Mop
Oven
Refrigerator
Scissors
Stove
Tea Pot
Toaster
Trash Can

Kitchen - Cooking:
Baking Dish
Broiler Pan
Can Opener
Colander
Cookie Sheet
Corkscrew (Wine)
Cutting Board
Fork/Tongs
Grater
Ice Cream Scoop
Knife Set
Ladle
Measuring Spoon set
Measuring Cup/Set
Mixing Bowls
Pizza Cutter
Salt & Pepper
Spatula-flipper
Spatula-scraper
Spoon–slotted
Spoon–cooking
Tupperware
Utensil Holder
Vegetable Peeler
Water Pitcher

Kitchen – Drinking:
Coffee Mugs
Drinking Glass Set
Wine Glasses

Kitchen – Plates:
Large Plates
Small Plates
Bowls

Kitchen – Pots and Pans:
Large Frying Pan
Small Frying Pan
Large Sauce Pot
Small Sauce Pot
Large Pasta Pot

Kitchen – Cutlery:
Cutlery Tray
Forks
Spoons
Knives
Steak Knives

Kitchen – Linen:
Dish Towel
Dish Cloth
Potholder
Placemat Set
Napkin Sets

For more details on how to furnish your corporate rental, please refer to the Corporate Housing by Owner User's Manual.

Traveling for Business - Your Diet Doesn't Have to Go Out the Window

When we travel for business we often find ourselves faced with a lifestyle of constant fast food, take-out meals, room service and steak dinners. But this kind of eating may make you pack on the pounds fast - after just one week you may find yourself already 5 pounds heavier! Plus, you may not be eating as healthily as you should be, which could make you sick or susceptible to illness and decrease your energy levels.

To prevent yourself from getting "traveler's gut" - try these ideas to keep your diet on track when traveling for an extended period of time.

1. Grocery shop each week. It's important that you plan your week's meals and stock your kitchen with fresh meats, fruits, veggies, whole grain cereals, low fat milk and other staples to keep you track.

2. Brown bag it. Buy bread, lunch, meat, chips and fruit so you can bring your own brown bag meals each day. You'll eat much healthier and save money too!

3. Keep it simple. Prepare for your stay by coming up with a handful of simple dinner recipes you can easily prepare in your corporate rental. Perhaps you like baked chicken or tortilla soup - make enough for two nights so you don't spend a lot of time cooking. Whatever you like, try to keep your diet on track by preparing simple meals for yourself and eating in.

4. Limit dining out to 1-2 per week. When you're traveling for business, it's tempting to go out to dinner every night. Eating out usually means you'll consume way more calories than you intended because portions are large and you don't always know what's going into your food. Limit how much you eat out and remember, if you're meal is huge, take home half of it, put it in your fridge, and enjoy it for dinner the following night.

5. Ignore meal stipends. Many business travelers get into the mentality that they have to spend their meal stipends or they lose it. This mentality will surely help you pack on the pounds because you'll be tempted to eat out more. Company money should not factor into how much and what you eat when traveling.

Keeping your diet on track when traveling can be challenging, but it's made a whole lot easier when you stay in a furnished corporate rental with a full sized kitchen vs. a tiny hotel room that forces you to eat out. Corporate rentals enable you to enjoy the creature comforts of home and keep your diet on track!

Corporate Housing's Brush with The Blind Side

With all the hype surrounding the new Sandra Bullock film, "The Blind Side," I can't help but get excited that CorporateHousingbyOwner.com played a small role in the film's success.

A few months ago I spoke with CHBO customer, John Berner. John owns this amazing 6,000 square foot home in Savannah, Georgia, just a few miles from where The Blind Side was filmed.

John was working on a long-term project out-of-state and offered his beautifully furnished home for temporary rent. He told me that he was contacted by The Blind Side's production crew, who ended up renting out his house and using it to house the family displaced by the film. You see, just a few miles from John's house was the home used in the filming of the movie. The family that lived in that home needed temporary housing and John's house offered exactly what that family needed.

Here is the full scoop on John's and CHBO's brush with fame:

Atlanta Homeowner's Corporate Rental Goes Hollywood

While Atlanta-resident John Berner was busy working on a project to restore the historical Sorrel Weed house in Savannah, Georgia, his beautiful, fully furnished, 6,000 square foot, five bedroom home near Chastain Park in Atlanta had been sitting vacant.

Berner learned that he could rent out his home, furniture and all, as a temporary corporate rental. He didn’t want to sell his house, nor did he want traditional renters because he would have had to move all his furnishings out of the home. That’s when Berner thought to list it as a corporate rental on CorporateHousingbyOwner.com.

With in one week, Berner got his first inquiry.

A production manager with Alcon Entertainment was in a predicament. He and the director of the upcoming Sandra Bullock movie, "The Blind Side," had scoped out a house about five miles from Berner's home to use in the film.

However, the family currently living in the home didn't want to spend seven weeks in a hotel while the film crew used their home, after all, they had two kids, two dogs, a housekeeper, a house manager plus four cars.

The production manager investigated the world of corporate rentals, where he discovered Berner's house listed for rent on CorporateHousingbyOwner.com. Berner's home certainly was large enough for the entire family, and it was close to the kids' school too.

When the production manager called Berner to explain the situation, Berner says he was immediately on-board to help. The displaced family agreed that Berner's home would work well and they moved into the home shortly thereafter.

Berner says he now understands the draw to corporate rentals – as there are a variety of people and situations that require temporary, furnished housing.

Plus, he says, he believes that corporate renters truly take care of a home. "My house was returned to me in pristine condition," he says.

Berner says he only has one regret, though. When negotiating the stay, he only wished that he asked for a date with Bullock!

Making Sure Your Corporate Rental Stays Clean Between Tenants

Many CorporateHousingbyOwner.com landlords have noticed that their tenants are staying an average of 3-6 months. This is great by all intents and purposes, but tenants who stay for multiple months may not always be the best housekeepers.

To ensure your home gets regularly cleaned, leave cleaning supplies on hand for your tenants to use. Mark them clearly as to their purpose, as you don't want furniture polish being used on your hardwood floors. Keeping supplies under the kitchen and bathroom sinks will provide hints to your tenants to tidy up.

Also, communication is key to keeping your home well maintained. Make sure you talk to your tenant about their responsibility in cleaning the home and reporting any maintenance issues to you right away. Build this into your contract so you protect yourself and your home. If they are too busy to maintain the home, you should charge them a fee to bring in the maid/cleaning service - a fee they may happily pay in exchange for not having to scrub toilets and floors.

One of the best ways to keep your rental home looking clean and maintained is to simply build into your lease agreement a bi-weekly or monthly maid/cleaning service. Doing so will ensure the property gets thoroughly cleaned and that there is no deferred maintenance when you're not around to inspect it. Over the years, I have accumlated a long list of regional and national cleaning services that I recommend you check out too.

Regular maintenance is key to keeping your home looking good year after year - so make sure it gets regular cleanings whether they're needed or not.

Rental Security Deposits. What you should ask for and how to handle disputes

Security deposits are one of the most important tools a landlord has to protect his/her rental property.

We have found that 92% of landlords collect a security deposit - as it is generally considered standard operating procedure for furnished rentals.

The average security deposit on a corporate rental is as low as $500 up to one month's rent. Owners sometimes charge a separate pet deposit to insure themselves against damage and wear and tear caused by a pet. Security deposits must be given back to the tenant (if no damage is done to the property) in a timely fashion. State laws govern this time period (generally within 21 days). I recommend returning it as soon as the tenant leaves and you've had a chance to inspect the property. The more time that passes, the more questions may arise as to whether the damage was done by that tenant or a following tenant.

In today's tight business market, corporations often balk at the idea of locking up money in a security deposit - and it can kill a deal. Because landlords feel pressured, they may skip the security deposit in order to seal the deal. But beware if you do this, because someone who isn't willing to pay a security deposit may have something to hide. Do your homework and research the client before making any rash decisions about whether to skip the deposit or not. If it's a reputable corporation, you can probably feel good that the property will be gently used by its employee and that the company will cover any damage to the unit. After doing a little research on the company or individual and things turn up okay, you can also have them sign a LOR, or letter of responsibility, which you can download from your MyCHBO account.

Remember, security deposits are meant to protect your property and yourself from unruly tenants. Most of the time (especially in the corporate rental world) they are never tapped... but they sure do make an effective incentive for a tenant to keep the place orderly. That said, you can be flexible with your security deposit policy when working with reputable corporations. Ultimately you have to go with what works best for you taking into consideration your clientele.

How to Create a Pet-Friendly Furnished Rental

If you're catering to the many business travelers who take along their beloved pet these days, here are a few tips to pet-proof your home and to show you welcome animals too!

1) Purchase a dog bed for each floor of your house. It's a small investment to make but may save you big time in the end. Pets need an inviting and soft place to lounge - by giving them their own beds you are deterring them from spending time on your couches or beds.

2) Use a semi-gloss paint on the walls because it is easy to clean up with soapy water and a sponge. For difficult stains, try Mr. Clean's Magic Eraser. It's amazing at cleaning dirt and grime off walls.

3) Avoid having exposed hardwood floors. Keep hardwood covered with large rugs and runners or opt for Pergo or carpeted flooring. Exposed hardwood floors can get scratched by a dog or cat's nails.

4) Keep pet feeding supplies on hand, like a bowl for food and a bowl for water. It's unlikely a homeowner would travel with those supplies and they might end up using your good dishes to feed Fido - ick!

5) Invest in a good vacuum. Encourage your homeowners to vacuum weekly or ask them to pay an extra fee for a weekly cleaning service. Pet owners are happy to pay extra if you let them keep their animal in tow.

6) Set ground rules. Dog poo must be picked up. Leave plenty of baggies to encourage pet poo pick up. Also, discuss with your renter the possibilities the dog could bark and disturb neighbors, damage property, and other issues ahead of time. Set a plan for handling such situations so there are no conflicts.

7) Think about leaving a few dog treats or toys in your home to show the homeowner you're welcoming not only the humans but also the animals too. Pets owners love pampering their pets after all and you will certainly make them feel welcome by inviting their dog into the home.

Make Room for Fido: How to Pet-Proof a Rental Property

Is your rental pet-proofed?

Pet proofing a rental means that your unit is prepared to receive tenants with pets. Let's face it, pets are the new surrogate kids nowadays.

Housing seekers traveling with pets use gentle persuasion with terms like: "well-mannered, house-trained, small/medium-sized, quiet, mindful and clean" to describe their pets.

The pros in considering a tenant with a pet is a renter's willingness to pay more and the ability to attract more renters. The con is the possible wear-and-tear of the property.

Therefore, it makes sense to pet-proof a rental so that it can attract more renters. Here are some pet-proofing tips:

• Plan ahead and get furniture that can be cleaned easily such as microfiber. Avoid material like leather that can be scratched up.
• Buy furniture covers for couches and chairs. These covers can be found at places like Ikea or Target.
• Buy a hepa-filtered vacuum and a handheld vacuum and negotiate with the tenant to use them frequently. Outfit the rental with a portable air purifier. These devices also use hepa filters to help refresh the air inside a room.
  

Also, if you have pet-proofed your home, make sure you mention it when marketing your rental. State in your listing that you will "consider" a pet. You can even ask to see the pet and decide if it's a good fit for your rental. If you decide to accept the pet, make sure the contract stipulates the accepted pet and the number of pets the renter is bringing.

Also, when allowing pets, be sure to ask for an extra deposit or ask the pet owner to cover the cost of the departure clean. If you have carpets, get some professional estimate amounts and pass this amount onto the tenant. Or charge a higher rental rate and offer to provide the tenant with regular maid service to keep the pet dander at a minimum.

These are some tips to help you accommodate pets in your rental home. Good luck!

Converting inquiries into rentals

You may get lots of people emailing and calling you to inquire about your furnished rental property, but are you effectively converting those inquiries into full-fledged rental customers?

Here are some tips to help convert a rental prospect into a customer:

Respect each lead. You never know how a lead will turn out so never let any stones go unturned. If you don't call back a lead because you don't like their rate or pet you may be missing out on the perfect renter who is willing to make compromises to work with you!

Call. Whenever possible get a potential lead on the phone - email is nice and fast but great renter relationships are developed through personal connection. Take the time to better understand their needs over the phone and you'll find that they will do a better job at taking care of your property and they will likely stay longer too! Also, return calls promptly. Chances are the prospective renter is sending out several queries - you want to be the first to snag the lead!

Ask for referrals. Don't just focus on converting this one lead, but see if you can use it to build future renters as well. If your renter is connected with a company, remind them to have their housing coordinator register for free as a CHBO Corporate User and have them bookmark your property for future employees.

Remember, ensuring that your rental property continually rented takes some time, but if you make the extra effort with each and every lead, it's likely you'll be a successful corporate housing landlord! Good luck!

Go Green with Smart Power Strips

Landlords of furnished rental apartments know that renters are looking for green rentals these days. It’s a selling point that sets some rental properties a part from the rest.

That said, we also know that going green can save you money – cutting down on electricity and water usage and resulting in lower utility bills for you.

One my readers recently told me he began implementing smart power strips. These power strips automatically turn off energy-draining LCD TV’s and DVD players when they are left in standby mode. When the TV is turned on, the power strip recognizes this and automatically switches back on all the devices. Most people know that turning off a power strip can save energy – but many forget to turn it off. This device does the thinking for you!

The power strips can be bought online at Conservation Mart for about $30. It’s a small price to pay to help the environment and shave dollars off your utility bill.

List your home on CorporateHousingbyOwner.com for FREE if you live in the Atlanta metro area; help flood victims find temporary, furnished housing!

Prolonged rains in Atlanta, Georgia have caused massive flooding, leaving thousands of homeowners displaced and left to find alternative housing solutions.

To help find temporary, furnished housing for these displaced Atlanta residents, anyone offering a furnished rental property in and around the Atlanta metro area will be given a FREE listing on CorporateHousingbyOwner.com, a website connecting homeowners offering fully furnished, temporary housing with renters in need!

Anyone offering a furnished rental property in the Atlanta metro area should contact a CHBO property specialist at 877-333-2426 to get their free month-long property listing coupon code.

Currently, CHBO has hundreds of furnished properties listed as available in the Atlanta, Georgia metro area, which can meet some of the demand for temporary housing created by the flooding.

Who should list their home through CHBO?

• Anyone who has a home listed for sale that is vacant but still furnished (staged).
  
• Anyone who owns an investment property, corporate rental or vacation rental in the Atlanta area.
  
• Anyone who is not living in their home for the next several months who can offer their property as a short-term furnished rental (i.e. someone who lives elsewhere part of the year).

Who should rent through CHBO?

• Anyone whose home has been damaged by the flooding or who has evacuated because of the floods in Georgia.
  
• Any insurance companies looking to find temporary, furnished housing for flood victims.
• Families with children and pets who have been displaced but don't want to stay in a transient hotel - furnished temporary housing is the right solution for these families.
  

2009 Furnished Apartment Market Report from New York Habitat

Be sure to check out the 2009 Furnished Apartment Market Report to learn about some of the trends going on in the furnished rental industry.

Here's a snapshot as extracted from the company's press release:

"With the economy facing one of the most challenging times in recent memory, this report brings into perspective the challenges in the current market and offers advice for owners and renters in New York City. A comprehensive review of this report will offer the necessary insight to thrive in this challenging real estate market.

"Throughout the 1st half of 2009 the number of rentals and prices were falling across all segments of the industry covered in the report, but what we saw is that in the areas where prices fell the most the number of rentals declined the least. Therefore, we have strongly encouraged owners to drop their prices to market bearing levels to keep demand for apartment rentals strong and keep occupancy levels higher."

The full report can be downloaded HERE.

Should you play "Let's Make a Deal" with renters, buyers and everyone in between?

I keep reading articles about how the American consumer wants to negotiate on everything they buy and how even in large box stores consumers are getting deals just by asking. Negotiating is nothing new to most of the world and we do it in real estate all the time -- but we are not used to getting a deal at the local Sears.

I remember traveling through Vietnam in the early '90s and my traveling companion got addicted to negotiating and would spend 15 minutes negotiating on a 10 cent item - so there are some times when it makes sense and other times when it is important to hold your ground.

Last month I listed for sale and sold a fully furnished corporate housing condo.

The first question I always get is why did I sell. Three main reasons (1) I had owned the property for five years and even in today's market could make a profit; (2) It doesn't fit into my current investment theory; and (3) Based on the current deficit and tax policy, I believe capital gains taxes will go up significantly in the next five years and wipe out future gains.

The next question I get is, "Who bought it?' It was a turn key sale - I sold it fully furnished with a tenant to an investment buyer who was tired of losing money in the stock market and was much happier putting her money back into real estate. The best part is that everyone involved in the deal walked away happy. My Realtor was happy (even though I am a broker I don't do my own sales) because she got a commission, my brokerage firm was happy because they got the sale, my management company was happy because they kept the property in their inventory, I was happy because I didn't have to worry about that property, and the investment buyer was happy because she got exactly what she wanted without furnishing the property herself -- plus she had a tenant on day one!

But I promised to tell you about negotiations and I hear from a lot of CorporateHousingbyOwner.com owners that tenants just want to negotiate -- after all, that is exactly what the media is telling them to do. When I listed this condo for sale I priced it correctly for the market. Next time I'll price it a little above so I can make someone happy by negotiating a little. The potential buyer came in well under my listing price and was frustrated that I wasn't willing to negotiate. My feeling was I was being fair to begin with and I wasn't interested in playing games. In this case I won and the deal was closed just under asking.

Another example I am facing right now is with a vacation rental I have - again everyone wants to make a deal and there are a lot of people willing to give a deal - in this case I am not. Normally, my rental house would rent for $400 - $600 a night depending on the season, but right now everyone wants something for $200 a night - in this case I decided the wear and tear on the property wasn't worth the reduced rate and I am content with not renting the property rather than loosing value through wear and tear. Each property and property owner has their own reasons for making a deal or not making a deal, just make sure you know your market and understand what is important to you before you start to negotiate anything.

Corporate Housing Tip: Don't Buy a Bed with a Foot Board

If you're furnishing your home as a corporate rental, don't buy a bed with a foot board. We got a request this week from a potential tenant who is tall - he requires a king bed or queen bed without a foot board.

Remember, when you furnish your home, think about every possible scenario and make your home as accommodating to as many people as possible so you don't lose any potential renters!