Have you had great corporate tenants in 2020? Or maybe you’ve had a few issues with people renting your property, while others are outstanding tenants. When you think about how the year has gone for you, do you feel like it’s going well or it could improve as we move into the future?
Whatever your answer to the questions above, you might be interested in hearing how other people responded. Our 2020 CHBO Corporate Housing Real Estate Report offers all of this information and a lot more. You can see how other people are faring with their corporate tenants and whether your experience is average or not.
There’s a lot of good news to be found when looking at the tenants that people have rented to over 2019 compared to years in the past. To get an idea of the experiences that others have had, the table below will put it all into perspective for you:
- 43% of tenants were called terrific
- 27% of tenants were considered mostly good
- 18% of tenants were placed in the fine category
- 12% of tenants were deemed to be disappointing
Looking at the information above, you can see that corporate tenants are generally pretty great. When you compare the stats above with the ones from 2018, the first thing to notice is that the “terrific” tenants went from 31% up to 43%. The number of mostly good tenants went down from 45% to 27%, while “fine” tenants increased to 18% from 12%. The number of disappointing tenants stayed precisely the same.
Have you had better experiences? Worse experiences? If you fall into the former category, you should pat yourself on the back for offering an excellent service that brings in fantastic corporate housing tenants. If you have worse experiences, it could be time to consider making changes about what tenants you allow to rent your property. There’s no reason not to consider all your options. However, you also have to realize that different people are going to have different experiences. Everything from the property you rent to the location where the property is found can impact how excellent your tenants will be likely to be. At the same time, sometimes it’s the luck of the draw. You might find that one year you have great tenants, while another year is less fortunate.
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