Property Management: Creating a Furnished Executive Rental

How do I get started turning my rental into a corporate / executive furnished rental? Here at CHBO we get this question every day. From a big picture perspective we always suggest reading the CHBO Real Estate Corporate Housing Report and The Corporate Housing Handbook to give the best overall details.
But don’t get lost in all the details and how many forks are expected when your tenant arrives. Start by applying common sense. Think of yourself as the business executive who gets paid well and has a lot demanded of them. Then think of this person being asked to travel to a new city to live for months at a time with high expectations on the success of their project. What would you want your rental property to look like? What little touches would make your stay better than average. So it is simple, start by thinking about your client and then think about your rental.
Sometimes the little touches make all the difference. Today we are going to dive into paint color and what works and what will set your furnished executive rental apart from other rentals and get your property rented…

How to Get Your Furnished Executive Rental Property Exterior Paint Color Right
by Kerrie Kelly, ASID.

Especially in the case of executive rentals, an exterior color palette is crucial. It’s the first thing your potential tenants see, and it welcomes them to imagine the possibilities of making a home there. To maximize the features of the surrounding area, there are many factors to consider, including the neighboring homes. With a little planning and research, you’ll find a color scheme that really makes your rental shine.

Executive rentals Work with what you’ve got: Take a step back from your house and make note of any interesting architectural elements. First, consider the elements of the home that are not going to change: the roof, chimney, fencing, driveways, landscaping etc., and look for colors and tones that will help you to bring those elements together. How about the trim? If you don’t have much, it’s really worth considering adding window casings and exterior shutters to make the house look more like an executive home, and to make it more architecturally interesting.

Accentuate the positive: You absolutely want to find a color scheme that draws attention to what sets your house apart. Trim, door casings, exterior shutters, railings-it’s all fair game. When you find a color that makes them pop, you won’t believe how much curb appeal you add with so little cost and effort.

Keep up with the Joneses: Of course, you want your house to stand out, but you don’t want it to clash with the surrounding homes. Drive around the neighborhood to get a good sense of the parameters you’re working with in choosing a paint scheme.

Don’t forget that front door makes your executive rental: Nothing is more welcoming that a front door that makes a strong statement with color. Once you’ve picked your overall color scheme, look for contrasting colors that don’t clash. Black, red (but a pick a few shades darker than your first choice), and lime green are our current favorites, but obviously those colors won’t work everywhere.

Furnished Monthly LeasingLook at the light: With an exterior color palette, it’s especially important to buy a few quarts of paint and experiment. You want to look at the house throughout the day, as the light changes, to make sure you’ve made the right choice.

Play some tricks on your eyes: Light and color play lots of tricks with our eyes, and some of those tricks can be used to your advantage. For instance, if you’re working with a deep lot, painting the house a lighter color will bring it forward, visually. If you’re going for a greater sense of privacy and seclusion, a darker shade might work best. Make a house look taller by painting it a lighter shade near the top, or shrink it a bit for a cozier feel by going darker as you go up. If you decide to go with gradient painting, definitely hire a professional to get the job done right!

Choose! The easiest way to begin narrowing colors is to look at different shades of color on the same paint chip. Consider whether the lighter shade at the top would make a good trim or body color, and vice versa. The contrast gives the house a crisp, clean appearance, and the attention to detail makes it seem cared for and homey. Remember that the trim, casings and exterior shutters take up quite a bit of real estate on the facade, and that you want to welcome your tenants rather than overwhelm them.

What colors are you thinking of for your executive rental property? What will make the right lasting impression to find the corporate renter you want?

Kerrie Kelly is an award-winning California interior designer who writes on home styles and design for Home Depot. The author of the popular DIY style book Home Décor: A Sunset Design Guide, Kerrie seeks to provide inspiration, as well as top-notch practical advice, to homeowners. Home Depot’s wide selection of doors and windows, including styles that Kerrie writes about, can be viewed on the company’s website.

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Kimberly Smith is an accomplished entrepreneur and published author with more than 20 years experience as an entrepreneur in the areas of real estate, property management, corporate housing, website development and franchising.

In 1999 Kimberly and her husband/ business partner, Eric, launched AvenueWest Corporate Housing, Inc., a multi-million dollar success story. AvenueWest provides real estate property management of furnished residential properties offering full service corporate housing services to upscale executive travelers in need of a monthly lodging solution. A recognized leader in the industry, they were awarded CHPA’s 2010 Provider Company of the Year Award and listed for 3 consecutive years on Inc Magazine’s Inc 5000 list of the countries fastest growing businesses.

Inspired to help people find corporate housing and real estate solutions on a national basis, Kimberly and Eric came up with a business idea to create a national resource dedicated to connecting furnished rental properties with executive renters. In 2006 CorporateHousingbyOwner.com (CHBO) was launched, the first-of-its-kind online portal connecting furnished rentals and the traveling public. In 2013 CHBO was recognized by CHPA as the Associate Company of the Year.

In 2009 AvenueWest Global Franchise was launched allowing for the national expansion of the AvenueWest Managed Corporate Housing product. Current offices are located in Phoenix, Atlanta, Fort Collins, San Francisco, Boston, Dallas, Denver and Colorado Springs.

8 Comments

  1. Paola
    August 23, 2017

    I have a few beautiful fully furnished houses in the Detroit MI area that I would like to rent as a corporate housing o a monthly, daily or weekly basis and would love to know what will be needed for me to do so

    Reply
    1. Jeff Richards
      August 23, 2017

      Hi, I will have a property specialist reach out via email. Thanks

      Reply
  2. Michele Williams
    May 28, 2015

    I have a very upscale victorian home I’d like to rent out; however I would like to know how I can rent it out to possibly executives that might want to stay in a home as opposed to a hotel room for weeks or months at a time. I’m located in the Middletown, PA area and I’m not sure how to get my information out to these types companies or employees that might be interested in renting a home. Is there a company I call contact that could help me get started on renting my home out?

    Reply
    1. Jeff Richards
      May 28, 2015

      Hi Michele,

      Please give us a call at CHBO and speak with a property expert: 1-877-333-2426. We can answer all your questions. Thanks for reaching out. Have a nice day.

      Reply
  3. Jeff Richards
    February 18, 2015

    Hi Linda,

    We will have someone contact you shortly to discuss your property and the CHBO program. Thanks for reaching out.

    Jeremy

    Reply
  4. Linda and Ross Martin
    February 17, 2015

    We have a 3 bedroom 2-1/2 bath house in Grapevine, Texas, that we would like to list as a corporate rental. We need information about the program, what is expected in the way of furniture and equipment, and what the suggested rental income might be. Please contact us at the above e-mail address or by calling 301-320-6465 or 817-729-8936. We will be in Grapevine from March 5 through March 15. Thank you for any information that you can give us.

    Linda Martin

    Reply
  5. Brown
    February 10, 2015

    I would like to talk to someone who is actually renting their property in the Houston area to get a field of how the market is renting. And to find out some real do’s and don’t’s . I’ve read the handbook and have several units I’m finishing but i would like to be able to network with others who are doing the same thing.

    Reply
    1. Jeff Richards
      February 11, 2015

      Hi Brown, Thanks for reaching out. I would suggest calling CHBO to get some help with questions you have. Please call 877-333-2426 or email support@mychbo.com. Have a great day!

      Reply

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