Corporate Housing: Who, What, Where & Why #1Admin 8 Year Ago
What makes a successful corporate housing provider? What makes a successful Corporate Housing Renter? Where is the corporate housing industry going? Why do people use corporate housing? Who provides corporate housing? Should I pay or charge a security deposit? What about pets? How do I find corporate housing rentals? So many questions so little time... Here at CHBO we are passionate about people and finding ways of connecting the best possible corporate housing options with the best qualified renters. For over 9 years CHBO has worked to develop a web platform to connect the world of travelers and the world of corporate housing rentals. Now for the 6th year we are conducting our annual survey of the corporate housing real estate industry from which we are able to provide the Annual Corporate Housing Real Estate report on the trends and expectations of our industry. Your information is essential to assure together we are all more successful - if you own or manage corporate housing rentals please take a minute and complete the 2014 Survey and get qualified to win an IPad Air!
What we learned from last year's Corporate Housing Survey #1...
Topic: Survey Respondents
- Property Locations. Hundreds of property owners from across the United States (including 38 states, the District of Columbia and Puerto Rico) and Canada responded to the 2013 survey. The highest response rate came from property owners in California, followed by Colorado, Texas, Washington and Illinois.
- Number of Properties. 42% of respondents say they have one rental property – about the same as 2012. Meanwhile, 41% report they have two to five properties. This group is up from 35% in 2012 – but the percentage is back to a similar level seen in 2010.
- Years as a Corporate Housing Landlord. 38% of respondents say they have been furnished landlords for five years or more. This number has continued to grow over the last few years (up 4% over 2012 and up 13% over 2011), indicating that property owners are finding long-term financial success in their rentals.
- Reasons for Being a Corporate Housing Landlord. At an all-time high, 59% of respondents said the reason they are corporate housing landlords is for the long-term investment.
- Corporate Housing Terminology. Similar to last year, 75% of respondents list their rentals as “corporate housing,” followed by 51% who list their properties as “furnished rentals.” After two years of seeing a decrease in the number of people who refer to their properties as “vacation rentals,” there was a slight 4% increase in that terminology.