Real Estate Investing: Fastest growing US Cities

According to new data from the US Census Bureau 3 of the top 5 fastest growing cities in the US are in Texas. People are being lured by higher-than-average salaries, but developers can’t build homes fast enough. San Marcos, Texas Frisco, Texas South Jordan, Utah Cedar Park, Texas Lehi, Utah Goodyear, Arizona Gaithersburg, Maryland Mount Pleasant, South Carolina Meridian, Idaho Odessa, Texas Gilbert, Arizona McKinney, Texas Franklin, Tennessee Pearland, Texas Biggest Population Increases Cities with the largest numeric growth and their current populations: New York – 8,405,837 Los Angeles – 3,884,307 Chicago – 2,718,782 Houston – 2,195,914 Philadelphia –...

Annual Report: Corporate Property Marketing

Marketing: Marketing Trends. In 2013, 37% of respondents say they spent $500 or more on their annual marketing efforts – down from 2012 but consistent with 2011. 51% of “by owner” landlords say their corporate properties were always rented (up from 40% in 2012), while the remaining 49% say they needed more tenants. Marketing Resources. 72% say they had professional photos taken of their corporate properties (up from 63% in 2012), and 37% say they have a dedicated website for their properties. More individual owners are seeing corporate property management as a viable income opportunity that requires polished marketing....

Annual Report: Pets

Pets Pet Trends and Pet Fees. Many renters continue to travel with pets. 43% of survey respondents say they accept pets (down from 48% in 2012). Of those who accept pets, 67% say they take pets because it gets their properties rented. The most common rental period for renters with pets is one to three months. In 2013, the average, non-refundable, one-time pet fee that property owners charged was $204 (down from $253 in 2012). The average pet refundable deposit was $343 – consistent with 2012 results. Digital Report: Click Here. Printed Report: Click Here. Historical Reports: Visit your MyCHBO Dashboard. ...

Annual Report: Corporate Housing Tenants

Tenants Experiences with Corporate Housing Tenants. Corporate housing tenants continue to be relatively “painless” tenants. In 2013, 95% of respondents say they had a positive experience with their corporate housing tenants – an all-time high for this report. Renter Types. In 2013, the top two reasons for rentals were: business assignments at 76% and relocations at 44%. The corporate housing renter pool went through some changes in 2013 – including a 9% increase in business travelers. We also saw an 8% increase in vacation renters, a 7% increase in people renting due to home remodeling, and a 5% decrease...

Annual Report: Corporate Properties

Corporate Properties Property Size / Number of Bedrooms. The highest percentage of “by owner” rentals continues to be two-bedrooms (38%). In addition, 29% of respondents say their rental corporate properties have three bedrooms or more. In contrast, in the full-service, corporate housing industry, the majority of rentals are one-bedrooms. The availability of additional bedrooms makes the “by owner” corporate housing segment an attractive option to renters. Property Type. Whereas the majority of corporate rentals in the full-service corporate housing industry are apartments, only 12% of “by owner” rental properties are apartments, according to survey results. Single-family homes make up...

Annual Corporate Report: Outlook on Profitability

Outlook and Profitability Outlook for 2014. According to the annual corporate report, 36% of respondents predict that 2014 will be better and more profitable than 2013 – similar to responses in 2012. Only 6.3% of respondents believe that 2014 will be less profitable, down from the 10% who had this outlook in 2012. Profitability. 91% of respondents report that their properties were profitable or breakeven in 2013. Overall, this response has been nearly identical over the last three years. Investment Real Estate Trends. For the fourth year in a row, there are more “Yes, I plan on buying more real...

Annual Report: Corporate Rental Rates

Corporate Rental Rates Variances: Changes in Rates. 60% of respondents say they offered the same corporate rental rates in 2013 as they did in 2012. 33% reported they raised their rates in 2013, and only 8% of respondents lowered their rates. The latter is a big improvement compared to two years ago when 16% of people reported lowering their rates. Actual Rental Rates. The largest increase in corporate rental rates was for studio rentals, indicating increased demand. Average corporate rental rates went down for 1 bedroom, 2 bedrooms, and 4 bedroom properties, after being up in 2012. Rental Discounts....

Annual Report: Corporate Survey Respondents

Corporate Survey Respondents Property Locations. Hundreds of property owners from across the United States (including 38 states, the District of Columbia and Puerto Rico) and Canada responded to the 2013 survey. The highest response rate came from property owners in California, followed by Colorado, Texas, Washington and Illinois. Number of Properties. 42% of corporate survey respondents say they have one rental property – about the same as 2012. Meanwhile, 41% report they have two to five properties. This group is up from 35% in 2012 – but the percentage is back to a similar level seen in 2010. Years...

Relevant Data equals Real Estate Corporate Housing Success

Did I mention this is my favorite season of the year? The season of collecting data for the annual “by Owner” Corporate Housing report. Now in its 5th year I really look forward to taking the new data and seeing what trends are changing and what trends are staying the same. Today I got an email from a property owner who wanted to know why Airbnb was not listed as a marketing source, great question! Next year the survey will include Airbnb and it will be interesting to watch Airbnb to see if it can go from a pop-culture...

News: AvenueWest Managed Corporate Housing Expands to Phoenix

Frequently you all ask us about WHO can managed your corporate housing rental properties and we are working on developing more AvenueWest Managed Corporate Housing offices to help you out. Before we started CHBO… We started AvenueWest Corporate Housing a real estate brokerage located in Denver, CO that focused on managing fully furnished private residences for real estate investors offering these properties as full service corporate housing properties to business travelers and others in need of extended stay rentals. Because the demand for private residence corporate housing was bigger than we could service we started Corporate Housing by Owner...