CORPORATE HOUSING AND FURNISHED APARTMENTS LANDLORD AND RENTAL BLOG BY CHBO
Need help with your tenant. We have some ideas.
One of the most essential parts of the screening process, when you offer furnished rentals, is the background check. However, many landlords don’t know how to run a successful background check. The same applies to many property managers. We’ll be sharing information on running a check to make the best tenant decisions....
Anyone who has been in the property management field for a long period of time can tell you that you begin to notice red flags immediately after enough experience. Someone calls in about one of your corporate rentals and you might get a feeling that something isn’t quite what it should be. However, most of the common red flags are easy to watch for even for those without tons of experience. We’d like to share them with you today....
The decision to rent out your property as a corporate rental can lead to a lucrative income stream. If you’ve chosen to list your property, there are many decisions to make such as minimum stay duration, what renovations are needed to get your home ready, what upgrades and decor may best meet client needs, and many others. But one of the most important questions is how to price your property appropriately. In making that decision, there are a lot of factors to consider....
For many renters, moving across the country or around the world for a new job is an intimidating life change. Corporate housing is undoubtedly a huge help during this transitional period, allowing people to focus on settling into their new environments. With that said, landlords can significantly impact how at home tenants feel in their temporary homes, making them more likely to stay on as long-term residents. Consider these small additions to a corporate housing apartment that will guarantee a more welcoming, comforting home for new tenants. Homey Furnishings Most renters will agree the convenience of having a furnished...
If you have one or more furnished rentals, and you’re not getting the interest in your properties that you want, it could be that your minimum stay is just too high. While it pays to have lower turnover rate with renters, the world of renting furnished apartments to corporate tenants is very different from the world of long-term rental housing. If you’re in this market, then you already know that furnished rentals get a higher rental rate than unfurnished, long-term rentals. You know that you can make a lot more money with very little work when you open your...
As a property owner, you know that your income for your corporate rentals depends on having active tenants living in them. You also know that corporate tenants tend to stay for shorter periods of time than tenants who sign traditional leases. You might think that this means you’ll be dealing with a lot of turnover and downtime in between tenants, but that really doesn’t have to be the case. If you follow a few simple tips, you’ll see more tenants extending their leases and much less time between tenants, too. Choose an Amazing Property Management Firm First of all,...
Yes, we love our pets and yes, corporate housing tenants frequently can’t live without their animals. Sorry just a fact of life. In today’s world we all want to live, shop, travel, drive and even dine with our pets and corporate housing tenants are no different. If fact one of the ways CHBO property owners get their properties rented more often is by accepting pets! 69% of CHBO properties accept pet to get the properties rented! Warning: Parrots! Yes I once had a parrot eat the blinds in one of my corporate rental units. So always get ARDI (Accidental Rental Damage...
Tis the season when the year comes to an end and it is time to look back at what we have done and strategize for the future! Corporate Housing Success in 2015, what does it look like to me? When I think about technology and the business world we live in I realize how much noise is out there, how much information and I have a hard time focusing on those ideas and tasks that will ultimately make me more successful and profitable in the year to come. BAH – HUMBUG! IF… you can take just a few minutes to...
Travel Trends: How TDY Rates encourage the military traveler to use Extended Stay and Corporate Lodging Solutions. Each year the defense department relocates hundreds of thousands of individuals and families in addition to all the long term projects that need housing around the world. In the last few years there has been a decrease in military demand for Corporate Housing Rentals. However with new TDY (Temporary Duty) reimbursement rates for stays longer than 30 days, that go into effect November 1st, 2014, we will start to see an increase in the military’s use of corporate housing as a cost savings...
Nothing will cause you to lose money with your rental property than having a bad tenant or a professional scammer in the property. I’ve been in the property management field long enough to know red flags and rental scams when I see them. You know, the tenant calls you and your gut just tells you something just doesn’t feel right. In my experience, here are some red flags every corporate housing landlord should be on the look out for: A tenant who doesn’t want to complete the rental application. Every tenant should complete the rental application with a few...