When Angela Crowley had the opportunity to relocate overseas for business, she began evaluating the option of selling her fully furnished Denver home. With the real estate market in shambles and Crowley not quite ready to give up Denver for good (she planned to live in Denver for part of the year), a real estate expert recommended she rent out the home as an executive rental. After a rental agent listed her home for rent for three months (and after lowering the price three times), she decided to take matters into her own hands.
After searching around online while overseas, Crowley stumbled upon CorporateHousingbyOwner.com (CHBO), an online website that connects owners of fully furnished properties with executives and others looking for temporary rentals.
She spoke with a representative at CHBO to learn more about how the process worked and found it all simple enough. She immediately set up her posting and within two weeks, her property was rented out for five months and for $1,000 more per month than the rental agent had suggested. That rate included the use of her furniture, utilities, high speed Internet, and general maintenance.
Crowley says that corporate housing was the “perfect” solution for her needs. “It worked perfectly last year because it allowed me to maintain my investment while still working overseas. I am about to post the listing again for this winter. We will see if it continues to work!” she said.
Crowley says that that while her experience has been great, there are some challenges to owning a corporate rental, including the risk of damage to her personal property and coordinating logistics from abroad.
Crowley says she has taken measures to prevent any personal property risks and understands that the benefits of being a corporate housing landlord well outweigh the risks.
“I have decided that corporate housing is a better option for me than selling because I love my home. I am able to keep my home, maximize its value, and live in other locations part of the year,” she says. “It doesn’t get better or easier than that!”
Crowley’s story was featured in the Denver Post in December 2008.
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