Leasing Trends to Follow in Corporate Housing

Admin
Published Date: 2020-11-02

The CHBO Corporate Housing Real Estate Report is an annual report that shows the results of surveys about rental data from 2019. The survey has been in place for more than a decade and offers an excellent way to find out what concerns are top on the minds of those who provide independent corporate housing solutions.

One of the things always interesting for people to look at in our reports is the leasing trends. While many things compose these trends, one of the most important is learning the way you screen and speak with people who are interested in renting your property.

So, how do you speak with your tenants, and is it working well enough to keep you booked? Even in a world that is now dealing with COVID-19? Some owners use a single method of speaking with potential tenants, while others might use two, three, or even more, depending on the circumstances.

It also stands to reason that the methods used vary from year to year, depending on what is going on in the industry and the world at large. We’ll share the responses from 2019 and see how those line up with a few years from the past so you can get an idea of how things ebb and flow over time.

The most significant number of respondents to our survey, at 57%, said that most of their interaction with potential corporate housing renters takes place over email. However, 55% also said that they often use the phone to communicate with these people. As for the other options, a background check is used by 47% to communicate, while 12% let CHBO handle the process, and only about 4% use Facetime or similar technology.

This is a massive jump for email, which only 50% indicated as a primary community method in 2019. It’s also an even more significant jump for communication by phone, which went from 25% to 55%. Meeting renters face to face dropped slightly from 46% to 44% over the past year.

With COVID-19 affecting our lives in all sorts of ways, it wouldn’t be a surprise to see meeting face to face drop even more in 2020. To stay safe, both owners and renters will be more likely to rely on other communication methods, such as email, phone calls, and Facetime. What’s working for you now that things are changing this year? Let us know!

Contact us

- Follow us on Facebook
- Follow us on Twitter
- Follow us on Instagram
- Subscribe us on YouTube