Relocations Are on the Rise and Corporate Housing is the Perfect Solution

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Published Date: 2022-10-18

With rising housing costs across the country, more and more people are choosing to relocate to new places. In a survey of Redfin.com users, about 33% are looking to move away from a large metropolitan area in the near future. The same applies to last year. Relocation rentals have become big business since the pandemic started, and housing prices have made a jump.

Why Relocation Rentals are Needed Now

Based on the mentioned report, higher mortgage rates and home prices are causing many homeowners to look for more affordable places to live. Many are moving to less expensive metro areas to search for reasonably priced homes with excellent amenities.

At the same time, all of these people relocating need somewhere to stay until they find the perfect home. This is where relocation rentals come in. If you have property somewhere that is seeing a lot of new potential homeowners, you can market it as a short-term solution until they choose a dream home.

Where People are Leaving and Where They are Going

While the situation could change at any time, some of the cities that are seeing homebuyers leave include San Francisco, Los Angeles, New York, Washington DC, and Seattle. This doesn’t mean that relocation rentals won’t work there, but there may be less interest at times.

On the other hand, potential homebuyers are flocking to other places. The most common locations in metro areas include Phoenix, Tampa, Sacramento, Las Vegas, and Miami. These are the places where relocation rentals will likely do the best, although excellent properties and marketing also have an effect.

Setting Up Relocation Rentals

Relocation rentals are a type of corporate housing. This means that the homes are designed for corporate business employees, relocating individuals, and other professionals. These homes are typically set up with full furnishings, free utilities, and all the same amenities you might find in a high-end hotel room.

Not sure where to start? CHBO is here for your journey into the world of corporate housing. Learn how to list your property, the benefits of advertising on the site, how to get great photos of your relocation properties, and much more.

As someone who offers corporate rentals, you can bring in tenants who are travel nurses, members of the military, or government contractors. There are all sorts of benefits to choosing to market corporate housing, and today is the day to find out more about it.