Corporate Housing

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. ...

Corporate Housing

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...

Corporate Housing

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...

Corporate Housing

Annual Report: Corporate Property Management Trends

Corporate Property Management Trends: Property Management. 72% of respondents say they do all their corporate property management themselves, down from 80% in 2012 and 86% in 2011. Respondents also used property managers (11%) and friends and family (7%) to manage their properties. Property Management Software. Consistent with last year, the majority of respondents (56%) say they do not use any form of property management software to manage their rental properties. 21% use basic spreadsheets, followed by 17% who use accounting software, such as QuickBooks™. Rental Documents. We asked respondents, where did you get your rental documents (such as leases)? The...

Corporate Housing

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...

Corporate Housing

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....

Corporate Housing

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...

Corporate Housing

Annual “by Owner” Corporate Housing Report – Part I

After a wild year in corporate housing in 2012 – complete with corporate housing mergers, new regulations on vacation rentals, and an uncertain economic climate – 2013 proved to be a fairly stable year in the corporate housing industry and the residential rental world. We hope it was a successful year for you. As you turn your attention to 2014, we’re excited to share the 2013 “By Owner” Corporate Housing Annual Report. In the following pages, you’ll find a summary and analysis of the results from our annual “By Owner” Corporate Housing Survey – now in its fifth year....

Corporate Housing

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...

Corporate Housing

Reflecting on the Corporate Housing Annual Report

A couple of weeks ago we released our 4th annual by owner Corporate Housing Annual Report. We conduct the Report each year in order to uncover trends, challenges and opportunities facing the corporate housing industry, particularly those who own and manage their own individual properties (also known as by owner landlords). We noticed a few unique trends in this year’s report when compared to last year’s report and I’d like to take the time to reflect on them in the blog. First, one interesting tidbit is that less people are calling their short-term rental properties “vacation rentals.” In fact,...