Corporate Housing Real Estate Rental Trends by CHBO

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

CHBOBlogger@gmail.com (Managed Corporate Housing Expert) — Mon, 14 Dec 2009 21:35:00 +0000

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)

Atlanta
Denver
San Diego
Dallas
Chicago
San Francisco
Las Vegas
Phoenix
Los Angeles
Philadelphia
Washington DC
Seattle
Portland
Minneapolis
Austin
Houston
Boston
Sacramento
Colorado Springs
Miami
San Antonio
New York
New Orleans
Charlotte
Detroit

CHBO teams with iWearYourShirt.com - win a free annual subscription

CHBOBlogger@gmail.com (Managed Corporate Housing Expert) — Sat, 12 Dec 2009 14:58:00 +0000

Today is iWearYourShirt.com day at CorporateHousingbyOwner.com. Jason Sadler, a man who wears your company's shirt for one day and then broadcasts it to the world, will don a CHBO branded shirt and giveaway 12 free CHBO annual subscriptions.

Read more about our partnership with iWearYourShirt.com - here's a link to the press release.

What's all the "by owner" buzz about?

CHBOBlogger@gmail.com (Managed Corporate Housing Expert) — Tue, 08 Dec 2009 15:15:00 +0000

There has been a lot of buzz about "by owner" corporate rentals. Should you work with a property management company or should you do it yourself? This is a question many of today's landlords and real estate investors are asking themselves.

If you decide to do it yourself, CorporateHousingbyOwner.com is committed to helping you become a successful landlord. Here is our commitment to you:

1) Our job is to send you quality rental leads. If you have a great property, furnished appropriately and in a quality location - and if you list your property following our detailed instructions - leads will most likely find you! If not, contact our specialists who will assess your listing and offer suggestions.

2) We like to share what we have learned - there are no secrets to what we do. Read the hundreds of articles on our blog or our detailed owner's manual (watch for the 2010 update) and be empowered to be your own landlord!

3) Our goal is if we can't help you, we will point you in the right direction so you can find the resources you need to successfully manage your rental property. We want you to succeed! Check out our long list of landlord and housing resources on our website. If you have a housing-related resource, website or link you'd like you'd like to share with others, please submit it on our site as well!

Helping Your Renter Save Money with a Fully Stocked Kitchen

CHBOBlogger@gmail.com (Managed Corporate Housing Expert) — Mon, 07 Dec 2009 15:00:00 +0000

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.

Seattle Couples Converts Mother-in-Law Suite into Furnished Rental and Makes $10k Per Year!

CHBOBlogger@gmail.com (Managed Corporate Housing Expert) — Fri, 04 Dec 2009 16:00:00 +0000

In July 2003, Colleen Cameron and her soon-to-be-husband, Michael, were looking to buy a house in the North Shoreline area of Seattle. While house-hunting for their dream house the couple stumbled upon a beautiful chateau that had everything they wanted… and then some.

“It just so happened that the house we fell in love with also offered great income-producing potential as it had an 800 sq. ft. mother-in-law suite in the basement,” says Colleen.

After the married coupled settled into their new home, they decided that rather than rent out their mother-in-law suite as a “regular” rental (which was plentiful in their area already), they would convert their mother-in-law suite into a furnished, corporate rental. They spent about $4,000 to finish the basement and convert it into a full-fledged rental property.

“We knew by offering our mother-in-law suite as a furnished, short-term rental, we could reach a different niche and have less competition in the rental marketplace,” says Colleen. “Plus, furnishing the property was easy since we both brought furnishings into the marriage – we had two of everything so we were able to furnish our downstairs apartment without spending a lot on furnishings.”

To find renters, the couple lists their mother-in-law suite on Craigslist.org and CorporateHousingbyOwner.com – both sites, say Colleen, have brought her solid leads, although she says with Craigslist the process is more manual because she has to post her property daily. With CorporateHousingbyOwner, she says, her listing is always front-and-center.

“In five years of renting out our furnished mother-in-law suite, we have only had one month with no renter,” she says. “In fact, our most successful renter stayed for two years. He was a divorcee who needed flexible housing to get him through his life transition.”

Benefits Galore

Colleen says that there are many great benefits to renting out part of their home as a corporate rental.

For one, she says she is able to command a higher rent because the basement apartment is fully furnished and offers flexible month-to-month rental terms. Colleen says her mother-in-law suite has been so profitable that she has been able to supplement her family’s income by about $10,000 per year, with the potential to bring in more.

“Renting out a part of your home is definitely worth doing if you have a basement apartment with a separate entrance,” says Colleen. “The main reason is you can instantly diversify your income stream. While my husband and I are gainfully employed, there’s always the risk that one or both of us could lose our job. We have this extra income to fall back on, just in case.”

Also, Colleen says she enjoys not being tied to any one renter for 12 or more months in case things didn’t work out. She also likes the fact that her renters only bring along their necessities and that they don’t move large furniture in and out of her basement, which means less wear and tear on her home.

Another huge benefit to renting out her basement suite, Colleen says, is that she lives on-site. “I can conveniently take care of requests and keep an eye on the place.”

Plus, because the couple is already paying for amenities like cable, water, electricity, trash, wireless Internet, etc., it doesn’t cost them a whole lot extra to provide amenities to the basement apartment.

“We’re able to offer our home at a low, all-inclusive rental rate because we don’t incur a lot of extra fees ourselves,” says Colleen.

A Word to the Wise

Colleen says that renting out a furnished apartment isn’t for everyone.

“You do have someone living in your house and you have to continually be on the look out for your next renter,” says Colleen. “It can be time-consuming to market your home.”

She also advises that someone shouldn’t buy a home with a mother-in-law suite unless they can afford the full mortgage payments themselves.

“We are fortunate that we can afford our mortgage. Any income we make from the mother-in-law suite is a bonus. I tell people looking to do what I’m doing to make sure they’re not dependent on income from their rental suite because they’re putting themselves at unnecessary risk.”

Overall, Colleen says because they have found so much success renting out a part of their home they may never go back to not renting it out. “It’s a peace of mind for us. We don’t have to think twice about money since we supplement our income with our greatest asset – our home!”

Saving Money While On the Road or Traveling for Business

CHBOBlogger@gmail.com (Managed Corporate Housing Expert) — Thu, 03 Dec 2009 15:11:00 +0000

Extended travel can be expensive and the last thing you want to do is blow the budget on food.

Consider this: A sit-down meal at a restaurant can cost anywhere from $10-$25 per meal. Multiple that by three meals per day for 30 days straight and you're looking at a food bill of $900 - $2,250! A family of four may not even spend $900 on groceries per month.

Sometimes spending this amount of money is unavoidable because travelers have had little options when it comes to meal time. Most of today's hotels do not provide full sized kitchens, making eating out or room service the norm.

But smart families and business travelers who opt to stay in corporate or vacation rentals are finding it easy to ease the financial burden.

Corporate and vacation rentals are fully furnished and offer a full-sized kitchen will all the amenities of a common kitchen, including a stove top, microwave, fridge, pots and pans, dishes, etc. This is good news for travelers who want to take a bite out of their exploding food budget. They can simply go to the grocery store, buy cereal and milk, cold cuts, spaghetti, hamburgers and prepare their meals themselves.

Since a corporate rental means you won't have to blow your budget on food, you'll have more money in your pocket to enjoy a nice night out or upgraded flight amenities, etc. Score!

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

CHBOBlogger@gmail.com (Managed Corporate Housing Expert) — Wed, 02 Dec 2009 14:00:00 +0000

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

CHBOBlogger@gmail.com (Managed Corporate Housing Expert) — Tue, 17 Nov 2009 15:29:00 +0000

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!

Furnished Monthly Rental Owners Wanted to Participate in Survey to Measure Do-It-Yourself Landlording

CHBOBlogger@gmail.com (Managed Corporate Housing Expert) — Mon, 16 Nov 2009 22:28:00 +0000

DENVER, November 12, 2009 -- It's no secret that do-it-yourself property management is on the rise - and the furnished or corporate rental marketplace is no exception. But do we really know how prevalent this segment of the lodging industry is? To find out, we are asking owners of furnished rental properties to help.

CorporateHousingbyOwner.com, a website connecting available furnished rentals with corporate housing renters, is sponsoring the first ever survey to statistically measure how many landlords are managing and marketing their furnished rental properties. The survey, conducted by independent consulting firm The Highland Group, also aims to understand trends in furnished rentals and corporate housing.

Kimberly Smith, the co-founder of CorporateHousingbyOwner.com, says that understanding this market can help more property owners understand how lucrative the furnished monthly rental marketplace can be.

"Our hope is to show, statistically, that corporate rentals are a viable lodging segment for anyone in need of month-to-month furnished housing. By understanding pricing, geographic and amenity trends, we are certain we can help more homeowners and landlords," says Smith.

Property owners with furnished rentals should visit the following website to participate in the short survey: http://www.surveymonkey.com/s.aspx?sm=YNliTgS3fKdRDKLP6aytzQ_3d_3d.

About CorporateHousingbyOwner.com – CorporateHousingbyOwner.com was founded in 2006 out of a need to connect private homeowners and real estate investors offering furnished, short-term rentals with corporate housing seekers such as traveling executives, relocated professionals, traveling nurses, actors, athletes and more. The company gives individual homeowners and investors tools to manage a corporate housing property themselves as well as helps them market their property to a mass audience turning to corporate housing to fulfill their housing needs. Please visit www.CorporateHousingbyOwner.com for more information.

The Highland Group Hotel Investment Advisors, Inc. – The Highland Group is an independent consulting firm nationally recognized as a leader in the hospitality industry, known for researching and reporting on the corporate housing industry, extended-stay hotels, B&B operations and others in the hospitality industry. Please visit www.highland-group.net for more information.

Making Sure Your Corporate Rental Stays Clean Between Tenants

CHBOBlogger@gmail.com (Managed Corporate Housing Expert) — Thu, 12 Nov 2009 16:30:00 +0000

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.

How to Winterize Your Corporate Rental

noreply@blogger.com (Property Management Expert) — Tue, 10 Nov 2009 17:00:00 +0000

With the cold season just around the corner, it's time to start winterizing your rental property. Here are some tips for the do-it-yourself landlord:

1. To keep heat from escaping, spend a day, sealing the doors and window with weatherstrips. They are a rubbery flexible tubing that can be adhered to door and window frames. Stand by the doors and windows and see if you can feel a draft coming in - if so, you are losing a lot of warm air through these cracks and sealing them will prevent heat from leaving your home.

2. Wrap a special blanket around the water heater to keep it insulated so that it can retain its heat more efficiently. Don't cover the panel of switches or the ignition point. These blankets are available at Lowe's, Home Depot and neighborhood hardware stores such as True Value, Osh and Ace.

3. If the property is a single family home or town home/duplex, check around the basement and garage for cracks in the cement. Seal all cracks with a concrete mix to prevent moisture and rodents or insects from entering in the winter.

4. The towering tree in the backyard that has been providing shade from the summer sun can be a liability. High winds and heavy snowfall can cause tree limbs to crash into the roof of a home. Prune these limbs now (even with its stunning autumnal hues of gold and red leaves). Hire a professional pruner if the tree is too tall. This will save the hassle of relocating tenants, hiring repair people and filing insurance claims in the future.

5. For single family homes, be sure to do some other maintenance yard work. Blow out your sprinklers before they freeze, put down a winterizing fertilizer on your lawn and make sure all the leaves and pine needles are raked and bagged.

If you're looking for more ideas, discuss additional ideas with neighbors, friends and the HOA on what steps they are taking to prepare a home for winter and/or check out do-it-yourself sites such as this one. Old man winter is on our doorstep so don't forget to winterize your home before it's too late!

San Francisco Couple Invests in Second Property in Texas to be Closer to their New Grandson

CHBOBlogger@gmail.com (Managed Corporate Housing Expert) — Mon, 09 Nov 2009 19:14:00 +0000

Janie Perez and her husband happily live in San Francisco – although they miss their grown children dearly. Their son was living in San Antonio with his wife and a baby on the way.

Perez decided to buy an investment property – a condo – in San Antonio. It would be her second home – a home away from home – where she could comfortably stay during her frequent visits to the area. Also, because her condo was vacant much of the year, she figured she could make some extra income on the property by renting it out between visits.

"We advertised our property in the newspaper and online and didn’t like the feedback nor quality of tenants we were getting. We talked with a Realtor and a property management company and they recommended we try CorporateHousingbyOwner.com," she says.

CorporateHousingbyOwner.com is a website that helps private landlords market their furnished, short-term rentals to corporate housing tenants.

Immediately upon listing her property on CorporateHousingbyOwner.com (property ID #2986), Perez found a tenant – a business executive visiting the area for a temporary work assignment. She says that since signing up with CorporateHousingbyOwner.com, the property has been occupied by a string of high quality renters. “It’s barely vacant!” she says.

"We're getting 3-5 rental inquiries per month, more than enough to keep it rented 9-10 months out of the year," she says. "When the condo is vacant, we seize the opportunity to visit our son and new grandson without having to stay in a hotel or burden my son and his family."

Even though Perez lives hundreds of miles away, she says the Internet has made it possible for her to manage the property by herself. "I'm able to do everything online including the application, verification and contract processes," she says.

One of Perez's strategies is to motivate the lessee to treat the condo well.

"We tell them if they leave their condo as tidy as they found it, they get their full $500 deposit back. We have been able to return the deposit to everyone we've rented it to and our condo is always in immaculate condition when we return," she says. "You can hardly tell anyone has lived there."

CorporateHousingbyOwner.com has made the process so easy for Perez that she says she decided to purchase another investment property in Austin, Texas (property ID #5312) so she and her husband could visit their daughter, who lived in the area at the time (although her daughter has since moved).

Perez says she listed the Austin condo on CorporateHousingbyOwner.com on a Monday and by Friday her first lease deal was signed and she had the deposit and first month’s rent in hand!

"CorporateHousingbyOwner.com has helped us keep our place continuously rented, cover our mortgage and maintenance costs, and has given us a place to visit and feel at home for few months out of the year," says Perez. "It has been well worth the investment."

Read case studies of other homeowners finding success with CHBO on our website.

Renting out part of our home as a corporate rental. What you need to know

CHBOBlogger@gmail.com (Managed Corporate Housing Expert) — Fri, 06 Nov 2009 16:00:00 +0000

Many homeowners these days are looking to make a little extra cash and the first place they often look is their home. Renting out part of your home can be an effective way to make a little extra money, but you need to go into the process with a little education first.

There are two ways individuals are renting out parts of their home.

The first way involves someone renting out a room in their home. Room rentals are not considered corporate rentals and should not be marketed as such. However, a great website, Sublet.com, connects individuals renting out a room in their home with potential rentees. I recommend keeping your rental asking price reasonable as to attract more tenants and have a greater pool to choose from - after all, this person will be sharing your living space as a roommate would.

The second way is to rent out a basement, attic, or floor of your house. For it to be considered a corporate rental, it must have a private, keyed entrance and all the amenities required in a furnished home, including a kitchen with standard appliances, a bathroom with a toilet, sink and shower, and a living/sleeping space.

Obviously renting out a part of your home will come with some downsides (noise, etc.), so it's important to set ground rules before doing this. If you are renting out your walk out basement, for example, you will want to make sure you clarify rules on sharing parking and laundry, as well as rules about parties and loud noises.

The upside is that you not only make some income from your home, but also you are on-site to oversee how the property is used and to maintain the property, which makes the process much easier for a do-it-yourself-landlord.

You can market your rental basement or attic on CorporateHousingbyOwner.com, just be specific in your listing as to the nature of your rental property. Good luck!

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

CHBOBlogger@gmail.com (Managed Corporate Housing Expert) — Thu, 05 Nov 2009 15:30:00 +0000

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.

Recoding a Garage Door Remote For Added Security

noreply@blogger.com (Property Management Expert) — Tue, 03 Nov 2009 03:46:00 +0000

In one of my prior entries, I suggested re-keying door locks as a more cost-efficient, do-it-yourself method than having an entire lock changed repeatedly after each tenant occupancy.

I realized that I left out another helpful method of re-securing a home for each new tenant. Not all rental properties are condominiums or apartment complexes with large common garages. Some landlords rent out a house in the suburbs with a garage attached to the home.

Recently, I had to hire a specialist to re-program a garage door remote and learned how simple it is.

In the case of the Genie brand, it's as easy as a press of a button. Here's how to do it:

Locate the garage door transmitter box above your head in the garage. It is the big box that commands the garage door to open and close when a remote control button is pressed. You will need a ladder as you will need to press a button on the box. By pressing and holding this button for a few seconds, it sends a computerized recoding message to your hand held remote. If anyone else has a duplicate copy of your original remote control it will not work anymore.

Find out the exact make of the garage door, either Genie, Craftsman, Raynor, Amarr, etc,, to see if the brand has any unique instructions (you can Google anything!).

I found this site containing helpful instructions for the Genie brand.

If needed, extra garage remote controls can also be purchased at stores such as Sears, Lowe's and or Home Depot.

Companies Reluctant to Relocate - Be wearing if you're asked if you "rent or own"

CHBOBlogger@gmail.com (Managed Corporate Housing Expert) — Mon, 02 Nov 2009 21:01:00 +0000

This weekend, The Denver Post featured an article about how companies are hesitant to relocate employees due to sour housing market. I was grateful to have been interviewed by reporter Margaret Jackson for the article.

I found it really interesting that it costs more than $76,000 to relocate an employee who owns a house whereas only about $22,000 for someone who rents.

With this in mind, I told Jackson that there is nothing stopping employers from asking a potential candidate whom the company is interested in relocating if they own or rent - as employers want to know if this is going to be a costly relocation for them. With all other variables being equal, the renter will get the job.

Check out the article, "In Sour Housing Market, Companies Relocating Fewer Employees" online and be weary if an employer is asking you if you rent or own... because it may hinder you from getting the job.

How to Create a Pet-Friendly Furnished Rental

CHBOBlogger@gmail.com (Managed Corporate Housing Expert) — Fri, 30 Oct 2009 14:00:00 +0000

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.

Taking Pets on Business Trips - Why Your Corporate Rental Should be Pet-Friendly

CHBOBlogger@gmail.com (Managed Corporate Housing Expert) — Wed, 28 Oct 2009 14:30:00 +0000

Americans love their pets and if possible, many are taking their pets along when going on lengthy business trips. I can only imagine how difficult it would be for a single professional to be put on assignment in another city and leave behind their beloved companion in a kennel or with a burdened friend.

Many corporate homeowners have shied away from accommodating pets because of worries of damage to the property, but airlines and hotels have made it easier than ever to take Lassie along for the ride and no longer see pets to be as "damaging" as once assumed.

If you have a corporate rental and have not considered ways to appeal to this growing number of business travelers who commute with their beloved dog in tow, you may want to rethink your pet strategy.

Here are some dog-gone good reasons to allow pets in your corporate rental:

-More traveling business executives and traveling professionals are taking Fido along for the trip. By not opening your home to animals, you may be limiting the number of prospective tenants.

-Pet owners are willing to pay an extra fee or deposit. They don't mind as long as they can take along their beloved animal.

-Pet owners are quite responsible. If they're taking their pet along with them, it usually means they care for them dearly and are quite responsible themselves.

On the other hand, there are many travelers who will look for just the opposite accommodation. They may have an allergy to pet dander. So there is a space in the marketplace for "pet-free accommodations" as well (so don't be discouraged if pets aren't your thing).

My next post will discuss how to make your corporate rental pet-friendly.

The 50 Mile Myth Debunked

CHBOBlogger@gmail.com (Managed Corporate Housing Expert) — Tue, 27 Oct 2009 14:00:00 +0000

I learned something new today that applies to relocation and business travelers. Perhaps I can put the kibosh on this myth once and for all:

Question: Do you need to travel a minimum of 50 miles from your primary residence before your housing and meal allowances can be provided on a tax free basis?

Answer: NO – The IRS simply says an overnight stay is required and has no reference to the distance of 50 miles. Remember, however, that in an audit the burden of proof will always be on you, the individual taxpayer.

When should I care about 50 miles? Any one who is relocating should be mindful of the 50 mile rule. Moving expenses are only allowed as a deduction under section 217(c) when a person’s new job is 50 miles farther away than the distance of the old commute.

When in doubt always seek the advice of a professional. To learn more go to TravelTax.com.

Free Webinar-The Hotel World Is Flat

CHBOBlogger@gmail.com (Managed Corporate Housing Expert) — Mon, 26 Oct 2009 19:04:00 +0000

Learn how the hotel world is changing - I believe by understanding where your renters are coming from you will be better able to market your corporate housing rental - If you have the time you might like to tune in.

The Hotel World Is Flat -
The blurring of distinctions between different lodging tiers is affecting negotiations and policy

Tuesday, October 27, 2009, 2:00PM EST

Join Business Travel News tomorrow for a live webcast, sponsored by Staybridge Suites and Candlewood Suites, with a panel of industry experts who will discuss how to read in between the lines.

Distinctions between hotel tiers already were blurring well before the current economic downturn changed lodging from a seller’s to a buyer’s market. The lines between upper upscale and upscale, those between upscale, midprice and limited service properties and even those between hotels and extended stay properties became fuzzy and have grown even fuzzier in the past year or so.

Part of the erosion of these barriers can be seen in the number and quality of amenities offered by less expensive hotels, and perhaps particularly the inclusion of free Internet access. It also can be seen in rates, with upscale hotels in some cases offering significant discounts or contract terms and some midpriced or limited service properties in downtown markets commanding a premium. The recession also has spurred trading down from upscale and midprice tiers accommodations while also providing the negotiating environment in which some companies are able to trade up.

What this blurring means for corporate travel buyers is that there are more options, but also more intelligence required about individual markets to make the best choices for the company and its travelers when it comes to negotiating hotel agreements

How to regrout old tile to make it look new again

noreply@blogger.com (Property Management Expert) — Fri, 23 Oct 2009 16:15:00 +0000

Have you ever cleaned something to the point that it smells clean but just doesn't sparkle? I noticed that tiles, whether it's the ones covering the bathroom floor, bathroom walls or kitchen counter tops suffer the most wear-and-tear. Bathrooms and kitchens see such frequent traffic. When tiles get dirty, so does the grid of grout in between. They get discolored and stained, making a white bathroom look unkempt.

While regularly web surfing for do-it-yourself instructions, I've come across Eric Stromer's videos. He has plenty of good advice for various home improvement topics.

I've learned that regrouting is a simple process that can make a kitchen and bathroom look new again requiring only a few tools. Tackling such a project in between renters can make your rental appear cared for, attractive and appealing. To ensure further maintenance of your bathroom and kitchen tiles, provide your renters with cleaners such as Lysol basin and tub spray cleaner. For the eco-conscious audience, there are brands like Method and Ecodiscoveries. Or provide a spray bottle with a homemade concoction, such as a vinegar and baking soda mix as this blog suggests.

Check out Eric Stromer's website for handy tips around your house like these!

Business travel outlook for 2010 better but not good

CHBOBlogger@gmail.com (Managed Corporate Housing Expert) — Wed, 21 Oct 2009 14:30:00 +0000

A new survey says that business travel may show some signs of improvement for 2010, but not much.

A staggering 10% unemployment rate and companies continuing to be frugal with travel costs are keeping analyst expectations for a solid travel in the year ahead at a minimum.

Here's how each industry impacted by business travel stacks up.

Airlines: The survey says that business-class fares on airlines will be up 1-6% while fares in general will be up 2-7% in 2010.

Hotels: Hotel revenues have fallen nearly 20% in 2009 and are predicted to fall another 1-6% in the year ahead as supply remains plentiful.

Conventions: Meetings and conventions have been cut this year and key convention destination cities like Las Vegas and Orlando are reporting visitors to the area are down 26% and 9% respectively.

But don't be discouraged by this news.

Corporate housing is utilized by more than just business travelers and we're seeing more relocated families, traveling nurses and professors, visiting mother-in-laws and more taking advantage of fully furnished rental properties. Plus, corporate housing is becoming a well-known alternative to hotels. As more business travelers become responsible for booking their own travel, more will come to personally learn about the perks the corporate rental world offers.

Security for hotel and temporary housing no laughing matter

CHBOBlogger@gmail.com (Managed Corporate Housing Expert) — Mon, 19 Oct 2009 01:06:00 +0000

An article in USA Today got us thinking about hotel security - and general security of any rental property. Barbara De Lollis, a writer with USA Today, told the story of her dad asking the front desk of a hotel for a new key card and the hotel staff made him one right away, without even checking for ID. They simply believed his story.

We have all heard stories about how hotel security isn't always what we'd hope it would be. People getting key cards they shouldn't have. Doors being left open while cleaning staff is in there. I even remember a 20/20 hidden camera investigation a few years ago where a man (actor) entered a room that was wide open and being cleaned. He told the cleaning staff member in the room he'd forgotten something and quickly stashed someone's stuff without the staff member second guessing who he was.

In corporate housing, you rarely run into these situations because you and your landlord are the only ones with access to your temporary living quarters.

If you're worried about security in a corporate rental, ask your landlord these questions:

1) Are the security codes for the garage and such changed between users?

2) Are the keys collected promptly and are the locks periodically changed?

3) What should I do if I suspect a security issue?

4) Who has access to the property besides myself?

5) Do you have chain locks on the front and garage entrances?

If you're a landlord, you want to make sure your home is secure and that your renters feel secure living there at all times.

Assure them that you change security codes and that the locks are re-keyed on occasion. Kwikset has keys that can easily be re-keyed by the homeowner without involving a locksmith. This could be a worthwhile investment, especially if security in your area is of concern. Check your local Home Depot or Lowes stores for these do-it-yourself re-key locks.

Another great way to make your homeowners feel safe while in the home is to install a chain lock on the front door and garage entrances. They way a homeowner can use the chain lock when they are home and not worry about someone entering the home while they're present.

Negotiating Strategies: How to get renters to pay what you're asking

CHBOBlogger@gmail.com (Managed Corporate Housing Expert) — Thu, 15 Oct 2009 15:43:00 +0000

It's likely many of your leads are asking you for a price break these days. Even I was asked for a deal when I sold my rental home a few months ago.

It seems like no one wants nor expects to pay full price for anything these days... period.

But if you're like me, you want to get a reasonable market rent because you've priced your home strategically to begin with. I've come up with a few tips to help get the price you want without souring the deal:

Anticipate the Negotiation: You have researched your market, you know the comps and you priced your property accordingly (and yes they probably know the comps too), however, the media has been training them to ask for concessions so be ready for them to negotiate and don't get frustrated and walk away from a possible good deal. Take the time to develop a dialog.

Give them Understanding: Everyone wants to know their needs are being listened to and understand what they're paying for. If someone is stuck on price and they're trying to get a lower rent rate from you, make sure they know that if they went to a hotel, they would have to pay for parking and Internet usage and other hidden fees. With you, it's all inclusive - turn-key! Some times renters need a little understanding of all the great add-ons they get with your property. And you can rest assured that most of us hate being nickel-ed and dime-ed by hotels - so planting that thought in their head will keep them hooked on you.

Develop a Relationship: Explain to them that as their landlord you will take good care of them and they're in good hands. Illustrate how your previous or current tenants have enjoyed the property. Making them comfortable with you as a landlord will make them see that they're not getting a run-of-the-mill property to rent - but a thoughtful landlord too, which is priceless!

Offer Incentives: If a homeowner is stuck on price, rather than lower your rate or heading down the negotiation path, offer instead to throw in an extra service. Maybe you provide a weekly maid service or a discount if they agree to a longer lease or a monthly metro pass to use public transportation to get to work. Think outside of the box. If you also own a vacation rental offer a discount if they choose to rent it for their next vacation. This way you can get two properties rented in one deal.

Leave Wiggle Room: While you want to price your home as strategically as possible, go into
the process knowing everyone wants a deal. Set your rate and then cushion it with a little wiggle room. This way you can still price yourself competitively and negotiate to make your renter feel like he's getting a deal. A win-win for all!

Lump Sum Relocation Trends - 3 tips to get more rentals!

CHBOBlogger@gmail.com (Managed Corporate Housing Expert) — Tue, 13 Oct 2009 15:30:00 +0000

One of the world largest financial institutions contacted CorporateHousingbyOwner.com a few weeks ago to learn more about our property listings and how their employees can rent them. The company representative said she wanted to recommend the site to all of her company's relocating employees. In the past, a company HR official would have coordinated the entire relocation process for an executive, but this phone call reinforced that the relocation trend now involves lump sum payments.

Lump sum relocations are where employers give an employee they are relocating to a new city a lump sum of money to cover their costs. In the past, the employer would coordinate the entire transition, paying for moving and travel expenses and putting up the family in a corporate furnished rental.

But today, with tight corporate budgets and a do-it-yourself employee attitude, companies will simply give an employee they're relocating a sum of money and let them coordinate their own moving process and expenses.

The executive who called us a few weeks ago wanted to recommend CorporateHousingbyOwner.com to her relocated employees so the employees could negotiate their own corporate rental fees and choose where they wanted to live.

What this means for you as a corporate housing landlord:

First, if your rental property is located near a business district or specific business (Microsoft, Comcast, etc.), you need to put this information in your listing. For example, you could say, Chicago corporate rental located in heart of downtown Chicago near Accenture, Boeing, Aon, RR Donnelley, etc. Chances are executives are being relocated to these big name firms and they are choosing their own corporate rental accommodations. Relocated employees given lump sum relocation fees will search for such company names in the keyword section and you want your property to "show up."

Second, be sure to follow up with all leads you get on your property. Some property owners only want to work with companies, however, an individual contacting you may be working with a company but managing their own relocation as a lump sum recipient.

Third, if you do work with a lump-sum relocated employee and you have a positive experience, ask them to recommend your property and CorporateHousingbyOwner.com to their HR team. Growing recognition for you and the CHBO site will only help you attract quality renters in the future.

Good luck!