What is Corporate Housing? How do I setup a Corporate Rental? How to get started renting a property? How do I make money? Corporate Housing Success Stories! Welcome to the multi-billions dollar world of Corporate Housing or more simply put, furnished monthly residential rentals.
Corporate Housing is part of the Extended Stay lodging segment offering an alternative to the transient environment of an Extended Stay hotel. Corporate Housing is also an option for the savvy real estate investor or property manager who is interested in maximizing the returns on their real estate investment. In the following pages our goal is to introduce you to the Corporate Housing product and industry, give you a step by step guide on how to create the most profitable Corporate Housing Rental, give you some tools and checklists to save time in setting up your rental and introduce you to some CHBO property owners just like you who have found success in their Corporate Housing rental. To help you navigate these changes with confidence, we’re excited to share the CHBO Corporate Housing Handbook and the “by Owner” Corporate Housing Annual Report Executive Summary – a summary of the results from our annual “By Owner” Corporate Housing Survey. This is the fourth year of our survey and annual report allowing you benefit from the latest data, as well as comparisons and trends from recent years. The CHBO Annual Report in its entirety is also available. It is different than other property management annual reports. It reflects findings from individual property owners, rather than from full-service, corporate housing companies. This report is designed to help individual owners – like you – learn from relevant trends in your marketplace and achieve greater success.
Table of Contents
Corporate Housing Myths Exposed
Are You and Your Property Right for Corporate Housing?
Who Uses Corporate Housing?
Corporate Housing Versus a Traditional, Long-Term Rental
Home or Condo?
What to Know Before Investing in a Corporate Rental Property
Tips to Being a Successful Landlord
Five Tips to Being a Successful Landlord
The Three Elements to Profitability
Setting Your Rates
“by Owner” Industry Rates
Serviced Corporate Housing Industry Rates
Eight Reasons to Choose CHBO
What is CHBO Complete?
How CHBO Complete Works
Activating the CHBO Complete Icon
How to Get Started with Renting your Property
Checklist of Steps to Take
Property Preparation Guide
Prepare Your Property for a Corporate Tenant
Prepare a Property Manual
Buy Furnishings for your Property
Think About the Style and Quality of Furniture
Spruce It Up
Find Ways to be Eco-Friendly
Rooms – Bedrooms, Bathrooms, Dining, Living, Kitchen, Other
Details – Technology, Utilities, Cleaning, Plants, Trash, Mail, Pets, Pet Questions
Maintenance – Cleaning, Trash, Pets
Marketing Your Property
Track Your Success
Text Message Alerts
More Tools on CHBO
Tips to Soliciting More Reviews
Handling and Managing Tenants
Converting Inquiries into Rentals
Negotiating with Potential Tenants
Credit and Background Checks
Accepting Credit Cards
Travel and Damage Insurance / ARDI
Keys and Access
Avoiding Security Deposits /ARDI
Reduce Vacancy Between Tenants
FAQ: Frequently Asked Questions
Tenants / Renters