Do you have help with the management of your furnished homes for rent? Are you the kind of person who prefers to handle all the management tasks on your own? Many people find that the job is something they can handle on their own, while others appreciate a helping hand to ensure things get done efficiently.
There’s no wrong answer here, but looking at the Corporate Housing Real Estate Report from 2020 can give you a little insight into what others are doing. Looking at the property management trends might give you an idea of whether you should change up your management techniques. It can also just give you a baseline for determining what others are doing in a situation similar to your own.
Our survey from 2019 shows that about 89% of people offering executive housing also handle management. This was a bit of a drop from 2018 when 93% of people did the work mainly on their own. It just goes to show that most people enjoy handling things for themselves rather than bringing in others, which might come at a monetary cost.
However, that still leaves others who do bring on help with the management of their furnished homes. Keep in mind that respondents could choose more than one option, so some who mostly do things on their own may have other help at some points. The most common form of assistance is through a property manager, which 14% of respondents noted they utilize.
As far as other options for help go, 8% use families and friends to help or a corporate housing management company. Only 3% select to use a real estate agent for help with management, and 2% work with a condo association for their furnished homes.
Taking a look at the property management trends can be done by logging into your CHBO account and finding the Resources section on your dashboard. All of our past surveys can be viewed there to help you handle all your property needs. Just because many people control most of the management on their own doesn’t mean it’s always been that way.
Whatever method works for you is the right one. However, if you’re running into issues with working too much to get everything done, keep in mind that you have options. There’s nothing wrong with having a little help in your corner.
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- About the Independent Corporate Housing Real Estate Segment: Property Management Trends