The Battle… New Software will track if you pay lodging tax

Eye Street Solutions LLC (“Eye Street”)  and HomeAway are battling it out in court!!! http://www.ca4.uscourts.gov/Opinions/Published/121143.P.pdf “Rather than book hotel rooms, many travelers now rent private residences for accommodation during their vacations. Appellee HomeAway, Inc. owns and operates a number of websites that facilitate such rentals. The websites, including HomeAway.com and VRBO.com, post rental advertisements by homeowners, whom prospective renters can then contact directly to make reservations.” “Many localities have found that these vacation rentals deprive them of significant lodging tax revenue. Whereas hotels almost always pay the taxes that localities assess on room rentals, private homeowners frequently fail to...

PPD = Pain Per Dollar – Watch Out for the Tax Man!

A few years back a CHBO property owner told us that she was switching from renting her property as a vacation rental to renting her property as a corporate housing rental.  We asked her why and she said “PPD.” The CHBO Property Specialist ask her to explain.  PPD she told us was, “Pain Per Dollar.” She wanted to make money with her rental property but trying to fix and flip her property nightly and weekly was just too much work.  She was excited to get Corporate Rents who paid good rates but also stayed longer. According to the 2012...

Discussion Time: Can Corporate Landlords say NO to guns?

CHBO’s goal when we started this blog a number of years ago was to make the blog as educational as possible – our goal was not to state our opinion but rather to give information to you that would allow you the necessary knowledge to be as successful as possible with your property rentals and if you are new to the blog don’t just read this post but look back at the archives and read more. More Free CHBO Tools: Corporate Housing Handbook, “by Owner” Annual Report. This was posted on All Property Managent this week… Can Corporate Landlords Limit...

CHBO’s By Owner Corporate Housing Report Now Available in Kindle Reader Version on Amazon.com

Press Release from CHBO DENVER, March 06, 2013 – CorporateHousingbyOwner.com (CHBO), an online marketplace connecting private landlords of furnished, short-term rentals with tenants in need of temporary housing, makes the results of its 2012 By Owner Corporate Housing Annual Report available to millions of Amazon Kindle users around the world. For $.99, Kindle users can download the report, which is chocked full of stats, trends and insights for individual landlords managing furnished rental properties. Further, the By Owner Corporate Housing Annual Report also is available in paperback for $24.95 on Amazon.com. “Our Annual Report is an important tool that...

What Real Estate Agents Should Know About Rental Liability

Many real estate businesses are trying their hand at property management to help boost their businesses and create retainer-like income. However, before you start offering property management services to your company’s clients, consider these dos and don’ts. Don’t simply agree to manage a rental property as a favor for a client or friend. Take the time to understand what this means, how it will impact your business and the amount of time you can dedicate to your business, etc. Make sure such services are part of your core business model. Do make sure you have a company policy and...

Austin Lawmakers Agree to Short Term Rentals [Finally!]

Austin lawmakers ruled a few weeks ago to finally allow and regulate short-term rentals after a long and contentiousness public debate. In fact, Austin City Council members reversed a decision they made two years ago that banned short term rentals in Austin. You can read all about the reversal of fortune here. We believe this is a big win for CHBO members and our society as a whole. Having the right to rent out your property as an investment shouldn’t be against the law. It should be a right! There are three key reasons we believe having the right to rent out...

Don’t Break the Law When Renting Your Corporate Housing Property

A few weeks ago the San Francisco Chronicle put the spotlight on for-rent property sites like Airbnb and HomeAway. The article featured a couple annoyed by disruptive neighbors. When they looked online to research the property, they discovered that their neighbor was renting out his property on Airbnb. When they tried to contact Airbnb to complain, no satisfactory resolution was offered. We are asking our CHBO members to take heed from this article. First, it’s important to control the quality of tenants you allow in your property. Be sure to conduct thorough tenant background checks and credit checks and market your property in...

Mileage Counts When Doing Your Rental Property or Business Travel Taxes

Corporate Housing Landlords: Did you know that you can deduct mileage when traveling to and from your rental property and when doing errands in relation to your property? Business Travelers (Tenants of Corporate Housing): Same for you, you can deduct mileage when traveling for business and when driving to and from your corporate rental. Good news – for 2012, the mileage standards have increased. Beginning on Jan. 1, 2012, the IRS says the standard mileage rates for the use of a car (also vans, pickups or panel trucks) is 55.5 cents per mile for business miles driven. The rate for...

Do Corporate Housing Landlords Consistently Run Credit and Background Checks on Tenants?

We’re continuing our blog series to share key findings from the 2011 “By Owner” Corporate Housing Report, an annual survey sponsored by CHBO to better understand the “by owner” rental marketplace. The latest report was released in January 2012 based on 2011 trends. Credit and background checks are quickly becoming an interesting topic for corporate housing landlords. With more people bearing bad credit because they’ve gone through bankruptcy or foreclosure on a previous property, it’s become more clear that all landlords must be on-guard with the individual who rents their properties. In today’s environment, credit reports are often used...

Is Corporate Housing Landlording a Positive and Profitable Experience?

Here’s another key finding from the 2011 “By Owner” Corporate Housing Report, an annual survey sponsored by CHBO to better understand the “by owner” rental marketplace. The latest report was released in January 2012 based on 2011 trends. Since starting the “By Owner” survey three years ago, we have added several questions along the way. The 2011 survey asked property owners to think about what they think the future holds in terms of their outlook and profitability as a corporate housing landlord. We learned that 37.6% of corporate housing landlords say they believe 2012 will be a more profitable...