Annual Report: Corporate Properties

Corporate Properties

  • Property Size / Number of Bedrooms. The highest percentage of “by owner” rentals continues to be two-bedrooms (38%). In addition, 29% of respondents say their rental corporate properties have three bedrooms or more. In contrast, in the full-service, corporate housing industry, the majority of rentals are one-bedrooms. The availability of additional bedrooms makes the “by owner” corporate housing segment an attractive option to renters.
  • Property Type. Whereas the majority of corporate rentals in the full-service corporate housing industry are apartments, only 12% of “by owner” rental properties are apartments, according to survey results. Single-family homes make up the largest percentage of “by owner” properties (28%) accounted for in this survey, followed closely by low-rise condominiums (24%).
  • Property Locations. The highest numbers of private corporate rentals are in suburban areas on residential streets (42%), followed by central urban areas (28%) and outer urban areas (23%).
  • What’s Included in Your Rental. While most private owners offer tenants a fully stocked kitchen (91%), TV (88%), bed linens (88%), towels (85%) and electricity (84%), there is much greater variation – and opportunity for competitive advantage – in the technology, maid services and perks that are available in each rental property.

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Kimberly Smith is an accomplished entrepreneur and published author with more than 20 years experience as an entrepreneur in the areas of real estate, property management, corporate housing, website development and franchising. In 1999 Kimberly and her husband/ business partner, Eric, launched AvenueWest Corporate Housing, Inc., a multi-million dollar success story. AvenueWest provides real estate property management of furnished residential properties offering full service corporate housing services to upscale executive travelers in need of a monthly lodging solution. A recognized leader in the industry, they were awarded CHPA’s 2010 Provider Company of the Year Award and listed for 3 consecutive years on Inc Magazine’s Inc 5000 list of the countries fastest growing businesses. Inspired to help people find corporate housing and real estate solutions on a national basis, Kimberly and Eric came up with a business idea to create a national resource dedicated to connecting furnished rental properties with executive renters. In 2006 (CHBO) was launched, the first-of-its-kind online portal connecting furnished rentals and the traveling public. In 2013 CHBO was recognized by CHPA as the Associate Company of the Year. In 2009 AvenueWest Global Franchise was launched allowing for the national expansion of the AvenueWest Managed Corporate Housing product. Current offices are located in Phoenix, Atlanta, Fort Collins, San Francisco, Boston, Dallas, Denver and Colorado Springs.

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