Real Estate Secrets: Details of the Successful CHBO Property Owner

The real estate secret is revealed as CHBO details what a successful Corporate Housing Property Owner looks like.

Frequently we get asked, “Can my rental be a successful corporate housing rental and how do I compare to other successful CHBO real estate property owners?”

Great questions and here at CHBO we love to know how thinks work, why they are the way they are and what other people are doing to be successful and how that information can make everyone more successful. So a huge “Thank You” to the hundreds of real estate investors across the worDetails of the Successful CHBO Property Ownerld who took the time to complete the annual CHBO Real Estate Corporate Housing Survey.

For years travelers needing corporate housing only had access to standard furnished apartments. Today the qualified corporate housing renter knows the have numerous lodging solutions available the the CHBO property system.

Who took the annual CHBO Corporate Housing Real Estate Survey?

Survey Respondents

  • Property Locations: In 2014, we received hundreds of survey responses from property owners from 37 U.S. states, Puerto Rico, and Canada. Similar to last year, the highest response rates came from property owners in California, Colorado, Texas, Washington and Illinois.
  • Number of Properties: The majority of survey respondents, 76%, say they only have one to five rental units. While we have seen slight variations in this percentage over the last five years, overall it has stayed consistent, meaning this report truly reflects the independent corporate housing real estate segment.
  • Years as a Corporate Housing Landlord: 42% of respondents say they have been furnished landlords for five years or more. This number is up 17% since 2011, indicating that property owners are finding long-term financial success in their rentals. Over the last five years, the number of new landlords (“landlord for one year”) has slowly decreased from year to year, but in 2014, we actually saw that number go up for the first time.
  • Reasons for Being a Corporate Housing Landlord: 56% of respondents say the primary reason they are corporate housing landlords is for the long-term investment, down slightly from 2013. We have noticed an emerging trend of “partial landlords” – respondents who are renting a separate, fully functional guesthouse or apartment on the site of their primary residence. We’ll continue to watch this trend in 2015.
  • Corporate Housing Terminology: Similar to last year, 74% of respondents list their rentals as “corporate housing,” followed by 45% who list their properties as “furnished rentals.” There is a new trend for referring to rentals as “executive rentals,” “extended stay executive housing” and “executive residences.”

Log into CHBO and find a complete report in your Resources Tab.

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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 CorporateHousingbyOwner.com (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.

2 Comments

  1. UAE Central
    July 29, 2017

    Wow!! What a great piece of content. I really enjoy reading your tips and It’s very useful. Thanks for sharing..

    Reply
  2. ezEstate Dubai
    November 17, 2015

    It is amazing these tips are very helpful i must if someone is looking for a house, apartment or house in any part of the world must follow these tips. These tips could be beneficial for you. ezEstate Dubai is also deals in real estate and they have many real estate agents who help you while you are searching for a property.

    Reply

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