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%...

Your Listing Description SUCKS

Without renters, your property sits empty. Not only does that mean you’re not making any money off it, but it means that property is actually costing you. You’ve got a mortgage payment to make, insurance, utilities, and the list goes on. An untenanted property is a serious drain on your finances, and you might actually be sabotaging your results with a lackluster listing description. You’ve got one chance to grab the attention of those interested in short-term apartments – the description. If it sucks, then so will your results. Not sure how to breathe some new life into that...

City Spotlight: San Diego Corporate Housing

SoCal is an amazing place – warm sun, proximity to the beach and the Mediterranean climate all combine to create an incredible experience. While the city’s one of the most frequent destinations for leisure travelers, business travelers will also find plenty of San Diego corporate housing options, as one might imagine of the eighth largest city in the US. Of course, that doesn’t make finding the right property simple. It actually complicates matters. Having too many options is just as problematic as having too few. CHBO can help. CorporateHousingByOwner has been featuring amazing San Diego corporate apartments and housing...

Investing: Avoid Scams – 7 must ask Questions

Over the years CHBO has worked a lot with Personal Real Estate Investor Magazine. We have traveled across the country to present Corporate Housing real estate investment strategies at their Leadership Summits, we are a featured blogger on their online magazine and even serve on the magazine’s Editorial Advisory Board. We do all of this because we do believe real estate investing is something that every smart investor should do, however we also believe there is a large learning curve between wanting to make money in real estate and actually seeing money in the bank. For too long the “get...

Corporate Lodging News: Increase in Defense Department TDY Rates

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...

Rental Properties: Design Ideas for the Corporate Tenant

Here at CHBO we get a lot of questions from property owners about what does a great Corporate Tenant expect from my property. The truth is they expect a lot! To be a great corporate housing landlord you need to understand what the tenant expects, communicate what they should expect from your property and then meet or exceed those expectations. Setting and meeting expectation will ensure all of your corporate housing tenants are satisfied with their rental experience and will give your property a great review making it easier for you to connect with that next great corporate housing tenant....

News: Mobility and Corporate Housing Trends

For the last few years since our article “Corporate Housing Myths Debunked” appeared in Mobility Magazine in 2009, Mobility Magazine features an articles on Corporate Housing. This month there were two articles: “More Like Home” and “Online Marketplaces” Two Trends mentioned: 1) Corporations are combining their business travel and corporate housing functions. 2) Business travelers expect accommodations that suit their lifestyles no matter the length of the assignment. According to “More Like Home” – “The hybridization of corporate housing and business travel is creating new audiences for relocation firms. Smaller firms and entrepreneurs who traditionally relied on hotel stays may find that relocation...

Top 10: Corporate Housing & Real Estate Investors

10 Questions every realtor should be prepared to answer about corporate housing Part III of III If you’re a Realtor with an established real estate practice, chances are you have or will have a client who wants to buy an investment property. Helping these clients identify the right investment property is now in your hands. You don’t want to mess it up. What are you going to do? 8 – How do I price a corporate rental compared to a traditional rental? A corporate rental should be priced competitively for its market, location and seasonal appeal. To price a property, look...

Corporate Housing: Rental Rate Increase

From time to time I always think it is important to pause in our crazy life of corporate housing to better understand the big picture and how we fit into it. I was recently helping market our new Managed Corporate Housing office: AvenueWest Phoenix and I know there is a big difference between the standard Serviced Corporate Apartments, Managed Corporate Housing and CHBO by Owner Corporate Housing but I was still really surprised at the positive reactions I had to the amazing rentals this office offers. Length of Stay: A lot of times when I am trying to describe the difference...

A Message for Corporate Housing Providers Association Members

We wanted to pass along some news shared by the Corporate Housing Provider’s Association (CHPA) today. On March 20, the CHPA Board of Directors updated the definition of corporate housing to clarify the types of companies eligible for active membership in CHPA. The new bylaws clause reads as follows: ARTICLE III – MEMBERS, Section 2.  Eligibility, Section 2.1 Active Members: Any corporate housing provider is eligible for membership as an active member. A corporate housing provider is any firm, corporation or entity that receives direct compensation for providing corporate housing to non-employees, as defined, and holds a lease with a...