A recent online discussion between owners of furnished rentals sheds interesting light on a lesser discussed matter – property exteriors. After receiving poor customer feedback due to the appearance of a back patio, one owner of short term housing wanted to know what fellow owners thought. The responses were intriguing and enlightening. So, if you are someone who offers furnished rentals, here are a few tips to consider:
- All outdoor areas in short term housing should be well-kept without any dead plants or overgrowth, but formal gardens are not essential. Do put empty pots and gardening tools away for both esthetics and safety (no one should be at risk for stepping on a rake!)
- As to outdoor areas, it is entirely up to the owner whether to list and/or advertise outdoor spaces. As an example, if there is an open patio, it can be listed as available for use by guests, but any caveats (i.e. furnishings may be put away seasonally or as weather demands, “gardens are being installed”, and so on)
- Included any explanations about outdoor spaces in the short term housing listing and the handbook available to guests (i.e. “You are free to use the backyard or patio. Folding chairs are available for your use” or “In spring and summer, leaves and debris may litter the patio, we do our best to keep it clear, but weather conditions may make that difficult. We appreciate your understanding”)
The results are in, so let’s dig deeper. Each week CHBO will analyze data from the annual corporate housing report and open a discussion. Please provide feedback with your experiences in 2017. This week we discuss CHBO Property Locations.
CHBO Property Locations
We received hundreds of survey responses from property owners and real estate managers across the United
States including 43 states and the District of Columbia.
Similar to last year, the top U.S. states for responses were:
1. California: 27% (up 6% from 2016)
2. Colorado: 15% (up 2% from 2016)
3. Texas: 10% (up 2% from 2016)
4. Washington: 5% (down 3% from 2016)
5. Georgia: 4% (down 2% from 2016)
6. Oregon and Illinois 4%
Number of Properties
46% of respondents say they have one rental property, tying the highest response we have had two years in a row. 37% report they have two to five properties (up from 35% in 2016). Perhaps the most interesting trend to note is that over the last six years, the property ownership numbers have generally stayed the same. (The one exception was in 2011 when we saw a 6% increase in property owners with one rental unit.We believe that may have been due to
the number of “accidental landlords” who entered the market at that
time, due to the economy.)
Given that more than eight in 10 survey respondents say they only have one to five rental units, the responses in this annual report truly reflect the independent corporate housing real estate segment.
1. Where are you’re properties located?
2. Are the properties located in the top cities reported by the CHBO community?
3. How many total properties do you manage?
Comment below or share this post with your response.
To learn more about this topic and other results, view the CHBO annual report.
To view Historical Reports, visit here.
Like a blitzing linebacker, Super Bowl LII is almost upon us. In three short weeks, the AFC and NFC’s finest will battle to raise the Lombardi Trophy and be crowned world champions. In the AFC, the Tennessee Titans and the New England Patriots will duke it out for the right to represent the American Conference; while either the Philadelphia Eagles or Minnesota Vikings will rise to face them from the NFC. Super Bowl LII, America’s greatest spectacle, will be played in Minneapolis, Minnesota at US Bank Stadium on February 4th, 2018. Have you found Minneapolis Furnished Housing metro?