3 Tips: Electric Cars and Corporate Housing Rental Expenses

To Plug or Not to Plug!  That is the Corporate Housing Rental Electric Car Question!

3 Landlord TIPS

Corporate Housing

 

 

 

 

At our house the family was very excited the day the new electric car began parking in our garage.  But we own our house and even though we had to invest in an electrician to install the charging station, we also invested in solar panels on our roof to off-set the expense of charing our car.  Yes, we love our electric car!  

BUT as a landlord the world of electric cars adds a whole new element to Corporate Housing Rentals.  Electric cars are great, but as a Corporate Housing Landlord you will need to ask the question…

“Do you have an Electric Car?”

 

As we know everything about success in a corporate housing rentals is “setting” and “meeting” tenant expectations.  The electric car is no different.  We, as landlords, just need to make sure we are setting and meeting a few more expectations.

3 Landlord Tips

1) Ask the question “Do you have an Electric Car” or other large item you will be charging (like an electric bike) at the rental property during your stay?

2) Add a clause to your lease requiring the tenant to notify you if an electric car will be charged at the property and re-iterate that this could incur an additional fee for utility overages above standard use.

3) Add a charging station to your rental property and use it as a unique value add item and add it in all your rental marketing.

p.s. If your property is in a condominium building talk with your HOA about building requirements, options and expenses.  It is always better to be informed before you get a bill.

 

What other “Clauses” should you have in your lease?  Lease Clauses

 

DIY? To Manage or Not to Manage Furnished Rentals

That is the question!  Do I? or Don’t I? …want to manage my furnished rental Furnished Rentalsall by myself, with human help, with professional help or with computer help?  and at the end of the day will I need professional help from a physiatrist?

STOP… Sorry the answer is not all about you. What does your customer/renter want? What does your customer/renter expect?  What can you deliver?

Success as a property landlord is all about setting and then meeting or exceeding the expectations of your customer/renter!

And don’t forget about your most important marketing investment: The Tenant Review. Make sure your customer/tenant has a great experience in your property and gives you a great review which will make it easier for the next tenant to want to rent your property.

Furnished Property Reviews

 

 


In the Annual CHBO Corporate Housing Real Estate Report this is what we found… Continue reading

Luxury Rental Style: 6 Ways Mirrors Can Add Light and Style to Your Rental

Here at CHBO we are always talking about photo quality!!! If you have a great corporate housing luxury rental make sure to invest in the best photos possible so all potential renters can see the quality and style of your luxury rental property.

Ok, now take a deep breath and walk through your corporate housing rental.  Is it really as cool as it should be?  Could be?  Maybe a little style facelift could be a great idea before you take those incredible photos.  Today Karrie Kelly, an award winning designer, gives us some insider tips on how mirrors and really make a room go WOW!…

6 Ways Mirrors Can Add Light and Style to Your Luxury Corporate Housing Rental
By Kerrie Kelly, ASID.

Using mirrors to expand the sense of space in a room is a classic interior design trick, but mirrors bring so much more to a room than space that I’ve come to think of them as additional windows. Think about it: they bring light, a focal point that changes with the room and—if you’re careful about where you place them—a second point of access to a great view. Additionally, in a luxury rental space, they’re a neutral piece that can still make a statement while also catering to any style.

The next time you’re looking for the right piece to hang on the wall in your corporate housing rental space, consider these six tips for making the most out of mirrors.

1. Place it over a console.

Easy, affordable and all kinds of stylish, this classic application not only maximizes light and space, it brings Old World elegance into the equation. Whether your style is sleek-and-simple or traditional, a console table is a flexible and functional piece that becomes fabulous with the right mirror behind it.Rental Design

The simplicity of the surface means you have the room to choose a statement frame, or keep it super clean by finishing the entire wall in mirrors and sliding that console right in front of it. In an entry hall, guests are always fooled into thinking they’re looking into another room, and guests are always glad for one more spot for a once-over before heading out the door.

2. Use it as a backsplash.

A mirrored backsplash in the kitchen is one of my favorite applications. The more cramped a space, the more apt it is to look cluttered—even if there’s really not that much there. A mirror behind a small countertop gives the feeling of a little more room to breathe without adding any actual square footage.

3. Hang it over a bed.

Bedroom SuiteThe bedroom is often a place where we want to keep the energy and visual stimuli to a minimum. This makes a mirror a great choice for a focal piece over the bed. Reflecting only more of what’s already in the room while drawing in natural light, the piece simply needs a frame that punctuates your design.

4. Place it across from a window with a view.

This is where that old trick really earns its keep. Got a great view? Double its value by doubling your access to it. Depending on the view, a simple mirror becomes a stunning piece of seasonal art. It’s also a good reminder that, wherever you hang a mirror, you want to make sure that it reflects an attractive scene. Think twice about mirrors that reflect the kitchen, for instance. That dinner party a guest worked so hard to pull together loses a little something when the dining room mirror reflects an image of dirty dishes.

5. Layer mirrors on a bookcase.

Bookcases are, of course, about much more than books. I love a layered look that includes interesting mementos and sculptures, but it’s also easy to overdo it. A mirror is great way to break up that space and keep it from feeling cluttered and claustrophobic.

6. Hang it above a fireplace.

The mantle tends to collect either homey favorites or dramatic statement piecRental design es. Why try to compete with the drama of a roaring fire or the comfort of a beautiful hearth? Keep it simple with a large mirror that inhabits the whole of the space over the mantle while adding its own sense of luxury and space.

What’s your favorite place to hang a mirror? Share your ideas in the comments.

Kerrie Kelly is an award-winning interior designer based in California who writes on home decor for Home Depot. Kerrie is the author of the popular design book Home Decor: A Sunset Design Guide. Kerrie’s mirror tips are based on her many years of experience helping homeowners with redesigns. To view the large selection of mirrors available at Home Depot, you can visit Home Depot’s website.

Get more great luxury rental design ideas on the CHBO Blog.45

Rental Discounts & Extended Stay Rentals

Yes there are generally rental discounts available for extended stay rentals if you are willing and able to sign a longer term lease :)

 


Defining a “Longer-Team Lease”

How a property owner defines a “longer-term lease” can vary significantlyExtended Stay Housing Discounts, depending on the market and the property. One property owner’s definition may be three months, while another’s definition may be 12 months. Nonetheless, while these discounts may be applied differently, the discounted amounts are fairly consistent.

If you’re new to real estate, the takeaway here is to avoid over-discounting. Very few property owners discount by 15% or more. The key is to find the right balance between keeping your property rented and properly valuing your property.

 


This is what we found in the Annual CHBO Corporate Housing Real Estate Report…

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City Spotlight: Phoenix Furnished Housing

Are You Looking for Corporate Housing or Furnished Housing in Phoenix?

Have you ever been to Phoenix? It is a truly gorgeous place in the desert when the skies are wide, the stars are brighter and the sunsets are absolutely breathtaking.

Not only is it a convenient gateway to the Grand Canyon, also Phoenix is the sixth largest city in the United States. Not a lot of Yankees or East Coasters seem to know that! But there are plenty of business opportunities and cultural and natural attractions waiting right here for you.

Perhaps you are looking for Phoenix corporate housing because you are in town visiting clients or suppliers or business associates, or maybe you are in town because you are considering relocating your business to Arizona, which has a low-tax, incredibly friendly business climate.

Or you could be here for our many luxury amenities, such as some of the world’s best spas and golf courses. That dry desert air is so good for many people who suffer from respiratory problems relating to humidity or elderly retirees who are looking to get away from the cold up north and just do not want to do the clichéd Florida thing.

Whatever the reason for your move to Phoenix, the sunniest place in all of America, we can provide the Phoenix furnished housing that you are looking for. Phoenix typically has more inventory in the summer, as winters are the high season. You can find the perfect rental in the summer so that you will already be in place when high season comes around.

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Temporary Lodging: Rental Rates and What do I Get!

Ever feel confused?  Why can’t everything in life just be a little bit simpler?  First I have to figure out what is “Temporary Lodging” and then I am expected to know how to compare one property to the next?  

Rental Rates

Dear Property:  

Please help me better understand temporary lodging.

Please help me understand the value included in your rental rate.

Thank you,  Confused Renter 

 

Let’s just start with the basics – NO ONE LIKES Hidden Fees!!!

Did I mention this is why I love CHBO COMPLETE!!!!  Read more blogs about CHBO Complete.

If Property A and Property B are both CHBO Complete I can know right away that both properties have a standard minimum items list in the property and that both properties have all utilities, cable and wi-fi included in the rental rates.

Yes all temporary lodging rental rates are going up.  Some properties increased more than others and some properties offer rental discounts for longer lease terms.  Stay tuned for more about discounts in future blog posts.

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Investment Trends: Luxury Real Estate Rentals

We have got to love 2015 and Luxury Real Estate Rentals!  Doesn’t the days of real estate “Recessions” seem very far away?  

Last week I sold one of my luxury real estate rentals.  The property was profitable so why did I sell?  Partly diversification and partly because I could.  Every once in a while it is exciting to see how profitable real estate investments can be over the long term andLuxury Rentals not just on the month to month positive income level.  It really was fun to list a rental for sale fully furnished and with a tenant included.  The property was sold for over asking, no contingencies, 14 day close and all cash.  

Yes, sometimes it is just fun to sell because you can and see all that cash in your checking account and spend some time contemplating what to invest in next…. 

Here at CHBO we work a lot with investors who are interested in investing in luxury real estate rentals.

Did you know…  18% of CHBO property owners plan on buying more investment rentals in 2015!  and 24% plan on buying more investments in the next 2-3 years!

CHBO Annual Corporate Housing Real Estate Report

New trend alert… What’s interesting, though, is that people who plan on buying real estate dropped in 2014, after several years of that number trending up. When respondents were asked whether they plan on buying more investment real estate, 42% said they “don’t know.” This response is at an all-time high, and it’s a 6% increase over last year. One possible reason for this answer may be the lack of value-priced real estate available on the market today. We believe investors may be sitting on the sidelines because they can’t find good deals.

In previous years, we assumed the undecided would change their answers to “yes” as the real estate market improved. However, this “don’t know” number has held relatively consistent over the last five years.

For the fifth year in a row, there were more “Yes, I plan on buying more real estate” responses (44%) than “No, I’m done with real estate” responses (13%). Over the last five years, the biggest trend in this question has been the steady decrease in the “No, I’m done with real estate” responses. Those responses have dropped from 27% in 2010 to only 13% in 2014.

Do you plan on buying more investment real estate?
Answer Options 2014 Responses 2013 Responses 2012 Responses 2011 Responses 2010 Responses
Yes, this year 18% 23% 19% 17% 15%
Yes, within 2-3 years 24% 22% 21% 15% 18%
Yes, when the banks lend* 2% 4% 4% 8% n/a
No, I’m done 13% 15% 17% 22% 27%
Don’t know 42% 36% 38% 39% 40%

Purchase Real Estate

 

 

 

 

Read more Blogs about Luxury Real Estate Investment and Corporate Housing Trends in the CHBO Annual Report…

City Spotlight: Halifax, Nova Scotia Canada Corporate Rentals

As a Canadian I love to find great new cities to visit both for business and vacation travel and even better is to have it all… A business trip to a great city that I get to explore and love. Today we get to learn more about one of these amazing must see cities…

Halifax, Nova Scotia Canada is the perfect city for business corporate housing travel or for travel fun. A must visit place in the Spring.

Ever thought of just taking off and heading to the coast? Well as this winter is melting away there is no better place to do that than Halifax, Nova Scotia. Renowned for not only the beautiful beaches and scenery, eateries, watering holes and shopping, Nova Scotia is literally famous for its hospitality. And there is no better place to stay when visiting Halifax that in one of the beautiful options offered by Moore Executive Suites.

Halifax Corporate RentalsWith a great variety of suite options, from cost effective bachelors (studios) in the historic property of the Mary Queen of Scots Inn, to high end corporate condominiums at Bishop’s Landing right on the Halifax waterfront, Moore Executive Suites has something for the business person relocating, student visiting to study, or adventurer ready to explore.

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Great Corporate Housing Rentals: Unique Styles a Must

If you have been following this blog you know I am extremely passionate about great corporate housing rentals!!!  If you are a corporate housing renter you should expect cool, unique and stylish rentals.  If you are property  owner you should provide cool, unique and stylish rentals.  More great news is that you have just survived the winter and now it is time to get out and enjoy spring and your corporate housing rental should be no exception.  This month Karrie Kelly, a professional interior designer, gives us great advice about creating unique style in your rental’s outdoor space…

Great Corporate Housing Rentals have Great Outdoor Seating to Suit Your Unique Style
By Kerrie Kelly, ASID

One of the best features of a corporate housing rental property is that there generally isn’t Unique Corporate Rentalsmuch to worry about regarding outdoor upkeep, but that doesn’t mean you won’t want some space for fun and festivity in the fresh air. With a little thought, even a small patio or balcony can add real living space and style to your apartment. In fact, managing a smaller outdoor space can be a real advantage. Much less time and expense are required to get everything in place, which means a solid return on the investment-and because it’s a rental, you can take it all with you when you go!

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Wikipedia Corporate Housing: What do I call it and do I care?

Did you know Corporate Housing has been around longer than Extended Stay Hotels?

Did you know there used to be more corporate housing rentals in the United States than there were extended stay hotel rooms?

The world is ever changing and changing faster than most of us can keep uCorporate Housing p with.  5 years ago if you had said Airbnb to anyone they would have had no idea what you were talking about and the idea of a company name that combines “Air Mattress” and “Bed and Breakfast” would have had no connection to you.

What the success of Airbnb proves is that as travelers we love to stay in residential rentals not just commercially zoned hotel rooms!

Well those of us in the corporate housing industry have been pontificating the virtues of short term residential furnished rentals for decades.  Just because the term “Corporate Housing”  hasn’t been a traditional lodging term for the recreational traveler doesn’t mean the professional business traveler hasn’t been experiencing the extended benefits of staying in a residential furnished rental through corporate housing providers.

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