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.
If you’re going to offer your property as a furnished, short-term rental (aka, a corporate rental), then you want to have good reason for doing so. One reason may be to serve the need of a target audience.
In the 2011 “By Owner” Corporate Housing Annual Survey, we asked landlords what were some of the reasons their tenants rented their properties. Some of the top reasons that “by owner” properties were rented in 2011 were to accommodate travelers on:
- Business assignments (69.7%),
- Relocations (52.9%),
- Vacations (33.0%). Family (23.9%)
- Healthcare professional/Traveling nurse (19.5%)
- Divorce (16.8%)Medical Treatment (16.5%)
It’s worthwhile to note that relocation stays decreased from 2010. Otherwise, the overall corporate housing renter pool remained fairly consistent.
To see all the reasons individuals are utilizing corporate housing rentals, download the full “By Owner” Corporate Housing Report online at 2011 chbo report.