Tag Archives: Corporate housing

Corporate Housing Gained Better than Hotels in 2012

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A press release issued by the Corporate Housing Providers Association (CHPA) earlier this month found that the corporate housing industry remains strong despite a challenging business climate. In the US, industry revenue increased to $2.66 billion in 2012.

CHPA CEO Mary Ann Passi says, “Corporate housing still made gains in revenue in 2012 even though companies faced apartment inventory shortages and increased competition from other lodging choices. With apartment communities having the lowest vacancies since 2002, finding favorable lease terms for corporate housing providers was and remains challenging.”

The reports also found that while relocation and contract work remain the strongest uses for corporate housing, many providers also experienced a dramatic decrease in government or military stays due to spending cuts and significant restrictions on travel. As the government sequestration continues and budgets remain tight, corporate housing providers remain hopeful for a stronger business economy, a more favorable job market with more relocations and an increase in long-term stays needed by clients.

For more information about the report and its findings, visit http://www.digitaljournal.com/pr/1192646#ixzz2RFxcWhjQ

Corporate Housing by Owner put out its own annual by owner report earlier this year. You can learn more about it by reading our blog post, “Reflecting on the 2012 Corporate Housing By Owner Annual Report.”

Is Now a Good Time to Buy Real Estate (and Invest in Corporate Housing)?

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is now a good time to invest in real estate

It’s no secret that the housing market is in recovery mode. It’s quickly become a seller’s market once again.

In our Annual “by Owner” Corporate Housing Report, we talked to hundreds of investment property owners across the country:
  • 19% said “Yes” they will buy this year, up from 17% last year
  • 21% said “Yes” they will buy in the next 2-3 years, up from 15% last year
  • Only 4% said they were waiting to buy when banks to loosen lending requirements
  • Only 17% said they were “DONE” and not going to buy anymore

With all this talk of housing recovery, you may be wondering if now is the right time to buy.

While real estate professionals can often make the case for buying at any time, if you are in the market to buy an investment property, it might be a great time to do so for these reasons:

Low Interest Rates: I have a feeling we will never see interest rates this low again in our lifetime.

Values Low:  Home values are still relatively low as the housing market bounces back to normal. Low prices and low interest rates make for the perfect buying storm.

Pent Up Sellers:  Many homeowners who wanted to sell long ago but didn’t want to sell their home at a low price or risk having it sit on the market for years are finally taking the steps to sell their homes. This brings about the potential for great inventory for investors and home buyers alike. (Remember, quality properties that are slowly making their way onto the “for sale” market are selling fast. Buyers need to identify what they want, watch for it, and move quickly to make a deal.)

As always, before you buy, make sure you find the right investment solution for you. Just because it’s a good time to buy doesn’t mean you should buy. You need to understand what you have and need, create a business plan, and put your plan into action. Talk to your financial advisor and trusted business advisers to learn if now is a good time for you to invest in real estate and corporate housing.

CHBO’s By Owner Corporate Housing Report Now Available in Kindle Reader Version on Amazon.com

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Press Release from CHBO

DENVER, March 06, 2013 – CorporateHousingbyOwner.com (CHBO), an online marketplace connecting private landlords of furnished, short-term rentals with tenants in need of temporary housing, makes the results of its 2012 By Owner Corporate Housing Annual Report available to millions of Amazon Kindle users around the world. For $.99, Kindle users can download the report, which is chocked full of stats, trends and insights for individual landlords managing furnished rental properties.

Further, the By Owner Corporate Housing Annual Report also is available in paperback for $24.95 on Amazon.com.

“Our Annual Report is an important tool that individual landlords managing furnished properties around the world depend on for the latest data and trends in corporate housing management and investing,” says Kimberly Smith, co-founder and CEO of CHBO. “By partnering with Amazon to distribute our Report, we are enabling great reach through the largest online global retailer. The more individual landlords we can reach and therefore help, the better!”

The 2012 Annual Report, released by CHBO in January 2013, includes information on:

Security Deposit Trends. Are individual property owners requiring security deposits or is the trend moving toward Accidental Rental Damage Insurance? What is the average security deposit fee?

Outlook on Real Estate Investing. Are corporate housing investors profitable or break-even? Do they plan to invest in more real estate in 2013?

Short-Term Rental Regulation. How is regulation of short-term rentals, particularly vacation rentals, impacting the corporate housing industry.

The survey was completed by individuals who owned or managed a furnished monthly residential rental property in 2012. The By Owner Annual Report reflects findings from individual property owners, rather than from full-service, corporate housing companies.

To download the Report on any Kindle Reader, visit http://www.amazon.com/Corporate-Housing-Annual-Report-ebook/dp/B00BLWBBD6/ref=sr_1_1?s=books&ie=UTF8&qid=1362082927&sr=1-1&keywords=CHBO.

To receive a paperback version of the Report, visit http://www.amazon.com/2012-Owner-Annual-Report-Corporate/dp/1482348500/ref=sr_1_3?s=books&ie=UTF8&qid=1362083314&sr=1-3&keywords=CHBO.

About CorporateHousingbyOwner (CHBO)

CHBO was founded in 2006 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, etc. CHBO gives individual homeowners and investors tools to manage a corporate housing property themselves and helps them market their properties to a mass audience turning to corporate housing to fulfill their lodging needs. Visit online at www.corporatehousingbyowner.com.

Corporate Housing by Owner Featured in Personal Real Estate Investor Magazine

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Personal Real Estate Investor magazine is a must-read for personal investors, including those individual investors who own corporate housing. In fact, it’s often touted as America’s best-selling investment, business and finance magazine for real estate investors. I have a feeling many of our CHBO blog readers also read PREI magazine.

This month, the magazine editors did a wonderful write up about the CHBO By Owner Annual Report, which is now available for download on Amazon.com (paperback, $24.99) or (Kindle Reader, $.99). Here is an image of the article – but you’ll need to subscribe to the magazine to see more.

Corporate Housing by Owner in Personal Real Estate Investor Magazine

In the article, “An Under-Appreciated Opportunity,” PREI explores whether real estate investor who don’t have corporate housing in their portfolios are missing out on a diversified and profitable investment opportunity (HINT, we think so!).

Remember, as corporate rental property owners, it is essential we take the time to better understand our largest investment – PREI helps us do just that!

PS – Exciting news, Kimberly Smith, our co-founder and CEO, is on the PREI Board of Advisors – congrats Kimberly!

And the Winner of our Caption Contest Is…

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The winner of our third and final Create the Caption contest is…. Yellie R.! Please leave a comment to congratulate her!

Below is what the winning caption looks like. I guess you could say our judges are suckers for a little CHBO love (don’t say you weren’t warned – haha!).

Corporate housing caption winner

myCHBO winning caption created by Yellie R.  Illustration by Denver artist, Don Sidle.

Yellie won a $100 American Express gift card and $100 worth of upgrades to her corporate housing listing on CHBO!

Thanks to everyone for playing. We received quite a few clever captions – it was hard to choose just one!

What To Expect Your First Night In A Corporate Rental

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Man entering a corporate rentalIf you’re a corporate housing property manager or by owner landlord, you know your tenant’s first night in the property is going to make or break their stay. We like to say that 90% of the details are in the first night. That’s why it’s crucial that you set the stage for your tenant to have a pleasant stay.

First Night Dos:

Check-In and Keys:  Make sure the check-in process is smooth. Your tenant should be welcomed by someone with a property key or given very specific instructions on how to enter the property. Do not mess this up – when your tenants arrive, it’s likely they have been traveling all day and just want to take their shoes off and kick up their feet.

Property Manual: Have a property manual available in plain sight. Your tenant might be hungry and need to know how to get to the closest grocery store or restaurant right away. Or maybe they simply need to know how to use the remote control or turn up the heat. Leave all these instructions in a property manual and deter a panicked phone call within minutes of their arrival.

Clean and Ready: Make sure everything is clean and ready for your tenant. The bed should be made with extra pillows and blankets in the closet or in an obvious spot. The toilet paper roll should be full with extra amenities in the cabinets under the sink. When I stay in a corporate rental, I enjoy it when the owner has left behind some cooking essentials, like salt, pepper and oil. These little touches go a long way!

Welcome Wagon: Leave a welcome note – or a goodie basket!  Your welcome note should include a nice welcome message along with your contact information should they need you. If your property is high end, consider leaving a basket of goodies for your tenant to enjoy. Some wine, fruit and crackers make a wonderful gesture and show you care that your tenant has a positive stay.

Departure Instructions: While 90% of the details are needed within minutes of check-in, don’t forget to leave detailed departure instructions too. You don’t want your tenant leaving with a bad last experience!

Does anyone have any other suggestions for making the first night a positive experience for your tenant?

Corporate Housing by Owner Featured in Inman News

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Corporate Housing by Owner featured in Inman News

CorporateHousingbyOwner.com was recently featured in Inman News – a top real estate media source.

In the article, “Capitalizing on Stealth Lodging Niche,” author Steve Bergsman discusses how corporate housing is helping homeowners find quality renters from around the world.

Bergsman features Todd Hunter, a CHBO member who snagged his first renter through CHBO, and he talks to the founder of CHBO, Kimberly Smith, about the corporate housing industry.

“Kimberly Smith, co-founder and CEO of Corporate Housing by Owner (CHBO), calls corporate housing “stealth lodging” because few people are aware of it until they need the services, even though it produces $2.5 billion to $2.9 billion a year in gross rents.

While anyone, including a mother and daughter looking for employment in a new city, can use short-term residential housing, the business is called corporate housing because residences in the programs are most frequently used by executives and other businesspeople on temporary assignment in another city or going through a corporate relocation.

Some of the many users of corporate housing include visiting nurses, baseball players in spring training, Cirque du Soleil performers on an extended performance schedule in one city, and snowbirds.”  Read More.