We’re continuing our blog series to share key findings from the 2011 “By Owner” Corporate Housing Report, an annual survey sponsored by CHBO to better understand the “by owner” rental marketplace. The latest report was released in January 2012 based on 2011 trends.
An essential difference between the standard corporate housing industry and the “by owner” segment of the corporate housing industry is the size of property that’s rented – and more specifically, the number of bedrooms.
From our annual “By Owner” survey, we learned that properties run by private owners are generally larger in size and bedroom count than the typical, business-to-business lodging that full-service, corporate housing companies provide.
Here are specific stats on the “bedroom counts” of typical “by owner” corporate rental properties:
- 23% of “by owner” landlords offer properties with only one bedroom.
- 41% offer properties with two bedrooms.
- 32% offer rental properties that include three bedrooms or more.
- 13% offer rental properties with four bedrooms or more.
While still the largest majority of corporate rentals are 1-2 bedroom counts, it’s worth noting the large number of 3, 4 and more bedroom properties. Such flexible lodging options are virtually non-existent among the full-service corporate housing companies.
More Single Family Homes: Further, while the majority of “typical” corporate housing consists of furnished, one-bedroom apartments, we know that “by owner” landlords are often helping travelers meet their increasingly diverse needs by offering a wider range of property types. In fact, 31.6% of the properties accounted for in this survey were single-family homes. This type of property is traditionally not found through corporate housing companies.
Located in the Suburban Areas: The survey also found that the highest numbers of private corporate rentals are located in suburban areas on residential streets (43%), followed by outer urban areas (22%) and central urban areas (20%). This geographic diversity is also relatively unheard of through traditional corporate housing companies and is relatively unique to the “by owner” segment.
Learn more about these findings by downloading the report yourself at 2011 chbo report.