What Does Houston’s Temporary Housing Market Tell Us About Corporate Apartment Rentals?

When you think of fully furnished apartments with luxury amenities, do you automatically think of cities like New York and Los Angeles? At Corporate Housing By Owner, we have listings all over the country, and they are getting more and more popular by the day. To illustrate the major demand for fully furnished apartments and corporate apartment rentals across the US, let’s take a look at Houston.

According to Texas Public Radio, “Houston [has] added more than 100,000 jobs in the last 12 months and hosted more than four million business travelers. Forty-one percent of those jobs were in the energy and healthcare fields.” If you’re even a little bit familiar with the economic climate and job market in Houston, this shouldn’t surprise you at all, especially as Exxon Mobile is the largest company by revenue in Texas.

Houston’s Temporary HousingBut what does that tell us about the need for corporate apartment rental units? Well, all of those people relocating to Houston and traveling for work need places to live while they’re in the area. As a result, local developers and entrepreneurs have taken note, and real estate developments like David Redfern’s Waterwalk are proving very successful.

Waterwalk is an entire development centered on corporate tenants, and Redfern describes it as “one part apartment, one part corporate housing, and one part upscale extended stay hotel.” Basically, Redfern is developing an apartment complex geared toward corporate renters who will either be moving to Houston or working there for a short time and need a place to stay temporarily.

A Huge Opportunity for Property Owners in Houston

Now, you may be thinking, “Well, that’s great, but why does it matter if Waterwalk is going to take care of all of the corporate tenants in Houston?” First of all, David Redfern’s development will absolutely not handle all of the people coming to Houston for those 100,000+ new jobs. Second, it won’t satisfy all of the corporations in the city, each of which will have their own needs and wants for corporate apartment rental units for their employees, partners, and contractors.

Take a moment to peruse some of the CHBO listings in Houston to see how different properties in this market vary and how yours might do beautifully, with or without the existence of Waterwalk or any other corporate rental development.

Still not sure that your property has a chance against the competition? Consider this – according to Texas Public Radio, “More than 5,000 energy-related firms in Houston compete for some of the best talent in the country. And when you’re trying to woo someone to your team, every little luxury counts.” Consider the luxuries and amenities available in your fully furnished apartments. If you have a breathtaking view, a rooftop pool, a hot tub, and/or a fitness center, you’re already looking better than any extended stay hotel. In fact, the only accommodations that could compete with you would be luxury hotels, which will cost corporations much more to reserve than your corporate rental.

Major Benefits for Corporate Renters

Of course, this also heralds some really great benefits and opportunities for corporations in Houston, and across the US, as well. With more and more property owners listing with CHBO, corporations all over Houston can pick and choose from the best of the best. They can select properties near their offices and headquarters, and they can choose which school districts they want to rent in, as well.

Based on what kinds of employees they’re bringing in, corporations can woo them with amazing communities and schools in the areas where they’ll be staying. They can also give them a taste of what it’s like to live in some of the very nicest neighborhoods around Houston and where they’ll want to live when they move here permanently.

Having the option to choose from CHBO listed fully furnished apartments for their traveling employees and partners can give corporations a leg up on the competition. They’ll not only be selling their great pay and benefits, but also their care and attention for their employees, as well.

Corporate Rentals on the Rise Across the United States

Houston is by far not the only city in the US seeing a rising need for fully furnished apartments for corporate renters. With the economy bouncing back and jobs on the rise all over the country, CHBO is seeing more and more corporations looking for executive rentals with lots of luxury features for their new employees and others traveling to work with them on a temporary basis.

Corporations need to sell their cities as much as their own corporate atmosphere and culture, which means they’re looking for corporate apartment rentals to represent them and their communities favorably. If you’ve been thinking about converting any of your investment properties into fully furnished apartments anywhere in the US, now is the time to do it.

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1 Comment

  1. Eric Smith
    April 11, 2016

    Houston is such a great market for corporate housing!

    Reply

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