Corporate Housing By Owner Has Completed Its 9th Annual Corporate Housing Real Estate Survey

Press Release CHBO

The Corporate Housing Real Estate survey results indicate the trends, standards and the need for a monthly furnished lodging solution. The annual Corporate Housing report is now available for view or download.

Denver, CO, June 27, 2018 –(PR(dot)com)– Corporate Housing By Owner (CHBO), has recently completed its 9th annual Corporate Housing Real Estate survey, thanks to the largest number of contributors in its history. Participants included property owners with a single property, those with multiple properties and management companies. The survey was open to anyone who owned or managed a furnished, monthly residential rental in 2017 – not just to CHBO users. This diversity of input provides an excellent overview of this market which is significantly different from the short term vacation segment. Indicative of this, 60 percent of respondents indicated average stays were 3 months or longer. To get a better sense of where this market is headed and what opportunities it affords, CHBO urges a careful look at the survey results.

According to The Corporate Housing Providers Association (CHPA), “In 2017, the US corporate housing industry reported its fifth consecutive year of room revenue growth, hitting a new peak at $3.62 billion. In 2017, the 12.9% gain in revenues over 2016 was the fastest increase since 2011. This is comparable to the corresponding growth in extended-stay hotel revenues and far greater than the overall US hotel average 5% in 2017. For the fifth successive year, the supply of US corporate housing units increased. Average daily rate (ADR) rose 7.1% in 2017, more than tripling the growth in overall hotel ADR, according to STR, the premier company providing statistics on the lodging industry.”

Rental Success Starts with Understanding Data and Trends

A glimpse of the 2017 survey results indicates that new owners continue to enter the market, over 90 percent manage their own properties, over 44% are looking to buy new properties, larger homes have shown the biggest increases in rents, 60 percent of owners are renting without previewing the property. Amplification of these trends and many others, revealed in the survey, can provide valuable knowledge on how to navigate the corporate housing market in the future. The full report can be viewed and downloaded here

CHBO thanks everyone who took the time to complete the survey questions. The survey results give you an insight on the private owner segment of the corporate housing industry.

About Corporate Housing by Owner (CHBO)

Does the View From the Corporate Apartment Matter to Renters?

When you peruse listings for furnished corporate apartments, you’re likely going to notice that a lot of them include details about the view you get from the apartment. Seeing a lot of instances of this, if you’re shopping around for investment properties to purchase or considering converting one of your properties to corporate short-term apartments, you’ll probably wonder if it really matters. Sure, a good view is always a great feature for any apartment, but how much does it count for furnished corporate apartments?Apartment rental view

The View Matters – But Not That Much

Basically, if you have a great view from your apartment, there’s no reason not to use this selling point. People love waking up to gorgeous skylines and beautiful landscapes, and they’ll sometimes pay more in rent for furnished corporate apartments with an excellent view. However, if you have a great property in a safe neighborhood with lots of privacy and plenty of space that’s within five to ten minutes of a large commercial district, you don’t need a view to rent that apartment.

Just like most other features of furnished corporate apartments, the view matters but is not a deal breaker if it’s not spectacular. You can more than make up for a mediocre view with updated appliances, comfortable and stylish furniture, and an apartment with plenty of space to spread out and relax.

Setting Your Rental Rates With Your View in Mind

Just like any other feature, when you set the rental rates for your short-term apartments, you’ll need to keep the view in mind. If you have a stunning view, you can probably charge a little bit more. If your view looks out over an alley and some dumpsters, you might want to give your tenants a bit of a break on rent.

Basically, when you consider what you’ll be charging for rent, you have to look at comparable furnished corporate apartments in the area. Check out listings in your neighborhood, and you’ll be able to see who’s charging what. This will tell you if you need to give a deeper discount for your dumpster view or if you can go a bit higher on your skyline view.

Luxury Rental Style: 6 Ways Mirrors Can Add Light and Style to Your Rental

Here at CHBO we are always talking about photo quality!!! If you have a great corporate housing luxury rental make sure to invest in the best photos possible so all potential renters can see the quality and style of your luxury rental property.

Ok, now take a deep breath and walk through your corporate housing rental. Is it really as cool as it should be? Could be? Maybe a little style facelift could be a great idea before you take those incredible photos. Today Karrie Kelly, an award winning designer, gives us some insider tips on how mirrors and really make a room go WOW!…

6 Ways Mirrors Can Add Light and Style to Your Luxury Corporate Housing Rental
By Kerrie Kelly, ASID.

Using mirrors to expand the sense of space in a room is a classic interior design trick, but mirrors bring so much more to a room than space that I’ve come to think of them as additional windows. Think about it: they bring light, a focal point that changes with the room and—if you’re careful about where you place them—a second point of access to a great view. Additionally, in a luxury rental space, they’re a neutral piece that can still make a statement while also catering to any style.

The next time you’re looking for the right piece to hang on the wall in your corporate housing rental space, consider these six tips for making the most out of mirrors.

1. Place it over a console.

Easy, affordable and all kinds of stylish, this classic application not only maximizes light and space, it brings Old World elegance into the equation. Whether your style is sleek-and-simple or traditional, a console table is a flexible and functional piece that becomes fabulous with the right mirror behind it.Mirror placement

The simplicity of the surface means you have the room to choose a statement frame, or keep it super clean by finishing the entire wall in mirrors and sliding that console right in front of it. In an entry hall, guests are always fooled into thinking they’re looking into another room, and guests are always glad for one more spot for a once-over before heading out the door.

2. Use it as a backsplash.

A mirrored backsplash in the kitchen is one of my favorite applications. The more cramped a space, the more apt it is to look cluttered—even if there’s really not that much there. A mirror behind a small countertop gives the feeling of a little more room to breathe without adding any actual square footage.

3. Hang it over a bed.

Hanging mirror over bed The bedroom is often a place where we want to keep the energy and visual stimuli to a minimum. This makes a mirror a great choice for a focal piece over the bed. Reflecting only more of what’s already in the room while drawing in natural light, the piece simply needs a frame that punctuates your design.

4. Place it across from a window with a view.

This is where that old trick really earns its keep. Got a great view? Double its value by doubling your access to it. Depending on the view, a simple mirror becomes a stunning piece of seasonal art. It’s also a good reminder that, wherever you hang a mirror, you want to make sure that it reflects an attractive scene. Think twice about mirrors that reflect the kitchen, for instance. That dinner party a guest worked so hard to pull together loses a little something when the dining room mirror reflects an image of dirty dishes.

5. Layer mirrors on a bookcase.

Bookcases are, of course, about much more than books. I love a layered look that includes interesting mementos and sculptures, but it’s also easy to overdo it. A mirror is great way to break up that space and keep it from feeling cluttered and claustrophobic.

6. Hang it above a fireplace.

The mantle tends to collect either homey favorites or dramatic statement piecHanging mirror above fireplace es. Why try to compete with the drama of a roaring fire or the comfort of a beautiful hearth? Keep it simple with a large mirror that inhabits the whole of the space over the mantle while adding its own sense of luxury and space.

What’s your favorite place to hang a mirror? Share your ideas in the comments.

Kerrie Kelly is an award-winning interior designer based in California who writes on home decor for Home Depot. Kerrie is the author of the popular design book Home Decor: A Sunset Design Guide. Kerrie’s mirror tips are based on her many years of experience helping homeowners with redesigns. To view the large selection of mirrors available at Home Depot, you can visit Home Depot’s website.

Get more great luxury rental design ideas on the CHBO Blog.