What is the Average Rental Value of Your Corporate Rental Property?
Admin
Published Date: 2020-08-05
Have you ever wondered if the average rental value of your temporary corporate furnished houses stands up to others who offer the same services? Market value can vary based on location, type of dwelling, and level of amenities, to name a few things. For example, a home that is located in the heart of San Francisco is probably going to have a lower market value than one in Austin, Texas.
The 2020 CHBO Corporate Housing Real Estate Report offers the chance to see what the average market value is for everyone who answered our 2019 survey. If you’re curious to find out which values are most common, the table below will give you some insight into exactly that:
| $500,000+ | 33% |
| $400,000 - $499,999 | 12% |
| $300,000 - $399,999 | 18% |
| $200,000 - $299,999 | 17% |
| $150,000 - $199,999 | 9% |
| $100,000 – $149,999 | 4% |
| $50,000 - $99,999 | 2% |
| Other | 10% |
As you can see, those with temporary furnished houses might have one relatively modest house, a few that are moderately priced, or a lot of homes that are quite expensive. The most important thing we can glean from this table is that the most significant amount of owners have properties valued at $500,000 or more.
That doesn’t mean you’re doing something wrong if you have a single home that’s reasonably priced, it just means you fall into another category. One of the things that the table does show is that having a more expensive home or several homes is the most common option for those with temporary furnished houses.
Keep in mind that all of these values are from 2019 and may change with all the other changing things occurring in our world today. With COVID-19 as a part of our current existence, some people may choose to invest in more properties. Others might want to stay at their current level, or even back out of some of their properties. It’s impossible to say right now when things are still chaotic in many places.
It’s entirely up to you what kind of money you want to put into the temporary furnished houses you own and rent out to business executives, people who are relocating, and those who need a place to stay for a short time. However, now you know the average for those involved in the same industry as you.
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