Divorce and Corporate Housing are a true longterm relationship!
After the big announcement, “We are getting a divorce,” the next step is to find out who gets what. Who is going to stay in the house and who is going to be staying in corporate housing or is everybody going to be living in corporate housing for the next 6 – 12 months while the lawyers fight out the details in court.
You may have never thought about it, but those of us in the Corporate Housing Industry see divorce as a good consistent client for us. According to the 2012 CHBO Annual Report 17% of property owners said they had renters because of a divorce.
The Mistress: My first experience with divorce came when a corporate CEO called me up to explain he was getting a divorce and needed the right place to stay as soon as possible. We drove around for the day in his Porche convertible looking at all my high-end executive rentals. His final choice was a two-story, 3 bedroom townhouse located in walking distact to the most trendy shopping district in town. My fist thought was to support him through this challenging time in his life. Then, the next day, I met his mistress and understood the situation a lot more.
The Swinger: We have all heard stories about Dads living in unfinished basements or spending months on a buddies couch. The great news is divorce in now much more dignified than it used to be and most divorcees choose to live an exciting life in trendy lofts with extra large big screen televisions. I once rented a property to an Major League Baseball player who was enjoying his new single status way too much and the woman doing the maid service on his property refused to clean up all his toys.
The Reconciliation: Sometimes during these transitions people make passionate choices that when things cool down may leave them with new opportunities. On one such occasions a soon to be bachelor bought a new condo to setup his perfect bachelor pad only to reconcile a few months later with his wife. SOLUTION: Don’t worry he turned his bachelor pad into a corporate rental.
The Mom: Sometime the stories are more challenging like the Mother of 3 who sold her house to move to a new state to be with her family, get a new job and begin the process of starting over. WARNING: Get it in writing!! Bummer, she only got the verbal approval from her ex-husband to move and he changed his mind and refused to let the children leave the state. They stayed in a Corporate Rental for almost a year before the lawyers came to deal and she was able to move.
I guess that is one of the reasons we have fun with corporate housing, each day, each renter gives us a new story, a new opportunity to help provide a home away from home.
What is your story?