Toronto City life

City Spotlight: Toronto Executive Rentals by CHBO

As one of the most flourishing cities in the world, Toronto is also home to thousands of Toronto executive rentals. In 2014, we reported that the city was bringing in hundreds of millions of dollars in rental fees (this was from the Corporate Housing Providers Association or CHPA). We decided to check back in with the city to see if owners of an apartment rental in Toronto or Toronto executive rentals were still making lots of income from their investments. It took one look at the listings for Toronto Corporate Housing to see that the city was indeed still...

Property Spotlight: Furnished House For Rent In Las Vegas

Searching for Las Vegas Furnished Housing? If yes then This “perfect for families” three-bedroom, two and a half bath fully furnished home in southwest Las Vegas is ready for your corporate rental. Set in a quiet, master planned community astride both Red Rock and Sloan Canyon, you’ll enjoy peace and quiet, parks, and a family atmosphere. But you won’t roll the dice on your commute as it is just ten minutes from the airport and the Las Vegas Strip. The economy here is led by the gaming industry.  Caesars Entertainment, MGM Resorts International, Wynn Resorts, Stations Casinos, the Las...

Why use CHBO to market your rental property?

There are many factors to consider when you decide to make your property available for rental. To whom will you market, for what duration of stay, and at what rental cost? How will you market the property? How will ensure it’s maintained and ready to turnover with each new guest? There are a lot of things to consider, and your decisions will have a major impact on the success of your executive rental. Fortunately, a decision to market your corporate rental with CHBO takes some of the guesswork and uncertainty out of this process. How? Corporate short or long...

Millennial Magnet Cities

By now, most consumers know that it is a “renter’s market” much more than a “buyer’s market”. Now here is this more prevalent than among millenials (those born between 1982 and 2004). According to RealtorMag.com, their rates of homeownership plunged “from 40 percent in 2006 to 32 percent in 2015”.  Yet, there are still many parts of the country where millenials actually represent the larger percentage of buyers rather than renters. For example, Elk Grove, CA is a city in which millenials have about 60% of the market share in terms of home buying. Where are the millennial “magnet”...

Suzette Sommer Tells Her Story About Becoming A Successful Landlord

In 2013, Suzette Sommer had never considered converting her home into an investment. In fact, she had never even thought of the possibility that her gorgeous house might be prime Seattle corporate housing. She did know, though, that she had lost her business, and that, in caring for her dying husband, she had come within a month of foreclosure. Then she was inspired by a friend staying in a Seattle furnished rental. Suzette’s friend was waiting for her new house to be built, and, as she visited Suzette, she saw how luxurious and comfortable Seattle corporate housing could be....

Sea Captain Tells His Story About Becoming A Landlord

A sea captain at the time, Norman Sollid first became a landlord in 1980, when he, his wife, and their growing family moved out of their first home and converted it into a rental property. Though he would spend 20 years renting this house out to long-term tenants, it would be a few more years until he learned the benefits of Alameda corporate housing. After the kids moved out and Norman retired, he and his wife decided that they wanted to split their time between their beautiful lakefront vacation home in the Sierra Nevada Mountains and their original home...

How should I price my corporate housing rental property?

“How should I price my corporate housing rental property?” “When should I negotiate, and when should I hold firm on my rates?” What are the most asked questions at CHBO? You got it, “What are the current Corporate Housing Rental Rates.” Because these are the top questions we’re asked at CHBO, we’ve divided this topic into three sections in our CHBO Annual Report: Variance, Actual and Discounts. Variance: Changes in Rental Rates We asked respondents to evaluate their current rental rates compared to the previous year for the exact same rental property.   The great news is that 39%...

Why Should I Set My Minimum Stay at 30 Days When I Really Only Want Long-Term Renters?

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...

Trends: Corporate Housing Real Estate Profitability

As you may have read in other blog posts there are lots of reasons a landlord may have for turning their real estate into a corporate housing rental. The reality of life is things do change and corporate housing can be a great solution for your real estate whether or not that is the reason you purchased the real estate in the first place.   Ok, so now you know you can turn lots of real estate into great corporate housing rentals, however the next question is, “As a corporate housing real estate landlord can I make a profit?”...

Colorado Couple Finds Stream of Quality Tenants at CHBO

Ray and Rayetta Thomas’s home is nestled in a private neighborhood in Manitou Springs, Colorado. The property has a breathtaking, unobstructed view of Pikes Peak and is minutes from Colorado Springs, Colorado. When it came time to renovate their detached garage, Ray and Rayetta decided to put a flat roof on the garage so they could add a second story guesthouse on top. After the project was complete, the property sat vacant with the exception of a few guests here and there. Rayetta says she felt the home was too valuable to be vacant all the time. It was...