Trends: Reason for Being a Corporate Housing Landlord.

I am sure by now you have all read my book “Idiot’s Guide: Making Money with Rental Properties.” 🙂 Well my first book pitch was actually the “What if… Real Estate Guide.”   I mean, I like to believe everything in life is predictable, but life has taught me that it is not.  In fact one of my favorite things about CHBO over the past 10 years of helping propertyowners is that our platform gives them options when life is unpredictable. The thought behind my “What if” idea is that life changes and often our real estate investments are...

Should You Raise Your Rental Rate

Is it time to raise your rental rate? Read below to learn if your corporate housing rental property is priced right… hint, assess your property regularly against the competition. Read more below… As a do-it-yourself corporate housing landlord, you may wonder how your rental fees compare to comps in your area. The housing and rental markets are rapidly changing, so it’s important to assess your rates at least quarterly to make sure it’s on par with the pack. Remember, your rental rate should have nothing to do with your costs. Rather, your rate should be determined by the fair...

Corporate Housing Landlord Responsibility: Part III of III

What state do you live in? Do you have a Carbon Monoxide Detector? Are you breaking the law? Carbon Monoxide Detectors – Individual states are starting to pass new landlord laws that require corporate housing landlords to install and maintain carbon monoxide detectors, and may enter the corporate rental for the purposes of installing, repairing, and testing. Tenants are responsible for notifying the landlord if the device becomes inoperable. As of January 2010 24 states have enacted laws regarding carbon monoxide detectors or smoke alarms: Alaska, Connecticut, Florida, Georgia, Illinois, Indiana, Maine, Maryland, Massachusetts, Michigan, Montana, New Hampshire, New Jersey, New...

Corporate Housing Landlord Responsibility: Part II of III

Megan’s Law: Protect yourself, your tenants and your neighborhood – As a corporate housing landlord make safety a priority! Megan’s Law disclosure Passed in 1996 is a federal law that requires a list of registered sex offenders be made available to the public. In addition some states have their own Megan’s Law, which may require that law enforcement actively notify the public of the presence of registered sex offenders. Generally landlords are not required to provide information on a known sex offenders to potential tenants, you can avoid possible liability by including resources for these lists. As a rule, most...

Corporate Housing Landlord Responsibility: Part I of III

You could be breaking the law and subject to a fine or lawsuit if you don’t know about Lead Based Paint disclosure requirements: Lead based paint disclosure – If your corporate property was built prior to 1978 then Federal Law requires that you notify tenants prior to arrival of any possible problems with lead paint in the property. This law requires that potential renters of housing built prior to 1978 receive certain information about lead and lead hazards in the residence prior to becoming obligated to rent, and provides the opportunity for an independent lead inspection for buyers. Corporate Housing Landlords...

Is Corporate Housing Landlording a Positive and Profitable Experience?

Here’s another key finding from the 2011 “By Owner” Corporate Housing Report, an annual survey sponsored by CHBO to better understand the “by owner” rental marketplace. The latest report was released in January 2012 based on 2011 trends. Since starting the “By Owner” survey three years ago, we have added several questions along the way. The 2011 survey asked property owners to think about what they think the future holds in terms of their outlook and profitability as a corporate housing landlord. We learned that 37.6% of corporate housing landlords say they believe 2012 will be a more profitable...