What is Corporate Housing by Owner?

CHBO is a web portal that connects individual property owners with highly desirable segments of the traveling public. The first is the corporate relocation market that is driven by the need for corporate managers to move where they're needed for a specific project or to relocate on a long-term basis. The second market is the hard-to-contact traveling professionals who are looking for an alternative to hotels and apartments. These renters include organizational consultants, traveling nurses, contract trainers, visiting professors, athletes, journalists and theatrical performers. Both groups of travelers prefer doing business directly with the private owners market because:

It is more cost-effective with better value
It offers greater flexibility for shorter stays and
It supplies a much broader range of unit size, style, locations and amenities.

An article by Douglas Bjotvedt in the May 2008 issue of Mobility notes that "The private owner ...typically is the easiest to deal with....The owner is intimately aware of his or her financial concerns and motivated toward the successful execution of a lease contract." When a prospective corporate user or renter comes to the website, they can easily search for properties based on their most important personal criteria. That criteria may be proximity to their workplace, numbers of bedrooms, availability of parking and other amenities. Perhaps more important is that the photos of the furnished interior gives the renter a realistic preview of what they will experience when they get there. Imagine the appeal a well-furnished, private residence would have for a relocating family compared to a sterile hotel room. Same city but what a difference......

How CHBO Helps Property Owners Stay Competitive

Corporate Housing decision-makers and renters who frequently use corporate housing have general expectations of the quality of the furnished home or condo. To assist our property owners, we created CHBO Complete. It is a comprehensive guide to the level of quality in this marketplace and a handy list of what to include in the rental. CHBO Complete gives you extensive guidelines for the following:

Standard Property Inventory
Quality & Comfort Standards
Managing Utilities, Housekeeping
Communication Standards for Phone, Internet, Television

The Team at CHBO has taken their extensive experience working within the corporate housing industry and designed the program to equip individual property owners. When our the owner meets the standards of CHBO complete, they are able to distinguish their property with an emblem that on their property listing. This signals to potential renter that the rental will satisfy the needs and expectations of the business traveler and the typical corporate housing user.

Corporate Housing is a segment of the lodging industry that has experienced significant growth over the past 25 years. In 2007, the average rental costs for corporate housing based on furnished apartments were:

One-bedroom monthly rent: $2,627.84 ( $87.59 per night)
Two-bedroom monthly rent: $3,134.59 ( $104.49 per night)
Three-bedroom monthly rent: $3,601.67 ( $120.06 per night)

to see more details on rental costs in specific markets

Overall occupancy in the corporate housing industry was 90% in 2006.

What's Special About Corporate Housing By Owner?

Corporate Housing By Owner is, quite simply, the next generation of Corporate Housing - a step forward, progress. We provide a means for property owners and qualified renters from across the country to find each other. Renters have the assurance that properties featuring the CHBO Complete designation will include everything they need for a comfortable stay from kitchen utensil and towels to television and toaster and all utilities are paid. Property Owners have increased assurance that the prospective renters they rent to are qualified individuals. It's a win-win situation for everyone involved. The broader exposure afforded by the CHBO Web site helps owners enjoy higher occupancy rates - which translates into a higher return on their property investment. Once a property owner lists with CHBO, he or she will never again resort to newspaper ads or other local advertising sources again. They just don't have the broad reach of CHBO.