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.
So many questions so little time… Here at CHBO we are passionate about people and finding ways of connecting the best possible Corporate Apartments options with the best qualified renters. For over 9 years CHBO has worked to develop a web platform to connect the world of travelers and the world of Corporate Apartments rentals. Now for the 6th year we are conducting our annual survey of the Corporate Apartments real estate industry from which we are able to provide the Annual Corporate Apartments Real Estate report on the trends and expectations of our industry.
Your information is essential to assure together we are all more successful – if you own or manage Corporate Apartments rentals please take a minute and complete the 2014 Corporate Apartments Survey and get qualified to win an IPad Air!
What we learned from last year’s Corporate Apartments Survey #8…
Topic: Corporate Apartments
- 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 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 properties (up from 63% in 2012), and 37% say they have a dedicated website for their properties. More individual owners are seeing property management as a viable income opportunity that requires polished marketing. In addition, social media is also playing a bigger role in finding renters.
- Marketing Results. The majority of “by owner” landlords say they use the Internet to promote their properties. 67% of respondents say they use CHBO’s basic listing service, followed by 50% who use Craigslist (a 6% increase over 2012). Respondents find they receive the most qualified leads and the most renters from Internet marketing, followed by real estate agents.
- Internet Reservations. In 2013, we again asked how the “by owner” segment feels about real-time booking reservations, in which the property is leased through a computer website and the property owner has no interaction with the tenant. 25% of respondents say they have used one of these programs (up 9% over 2012). However, 48% say “no,” they would never rent their property without talking to the tenant first.
- CHBO Services. Of the respondents using CHBO, they tell us they use the following CHBO tools the most: (1) The property listings (2) The MyCHBO documents page (3) The Property Owner Handbook (4) This “By Owner” Corporate Apartments Annual Report.
Take the 2014 Survey now and get qualified to win an IPad Air!
Read the 2013 Annual Report.