Corporate Relocation Report: What does it cost????

We all know that corporate relocation clients comprise the largest segment of corporate housing users. So when they tell me relocation is on the upswing I know it is good for business. According to the last annual report from the Corporate Housing Providers Association “Relocation continues to be the main reason for client stays in the United States, with project/training the major reason Canadian clients stay in units. Relocation is a close second in Canada.” Last year in the CHBO Annual Real Estate Survey 44% said they had tenants who were relocation related. Worldwide ERC® Relocation Survey: U.S. Domestic...

Corporate Housing Dictionary.. Its not Webster’s

Since we have been doing Corporate Housing for more than 20 years we take for granted that we all speak the same language 🙂 When we created CHBO Complete our goal was to create a tool to get renters and property owners on the same page as quickly as possible. But every time I hire a new employee here at our Corporate Housing Management Company I am reminded how many terms we use that can be new to others. Here at CHBO we work hard to make both our property owners and tenants the most educated and successful Corporate...

What is relocation talent management?

What is relocation talent management? A few years ago I served on the Advisory Board for ERC Worldwide / Employee Relocation Council. Relocation is the single biggest reason tenants stay in corporate housing. In the beginning individuals receiving a corporate housing relocation package would generally be allotted 90 days to stay in a corporate rental while they found and setup a new permanent residence. In these days specific services were given as part of the package with everything from home buying and selling to neighborhood orientation tours.   Then about 10 years ago companies started using the “lump sum”...

Corporate Housing Reports and Data

ERC – Employee Relocation Council recently had a webinar on “Furnished Housing: The Mysteries and the Facts”  and as a followup the attendees were interested in more Corporate Housing Data here are few resources: CHBO Annual Report – $19.95 on Amazon. The Highland Group: Corporate Housing Annual Report – $495.00 Highland Group. The Corporate Housing Handbook – $26.96 on Amazon. Idiot’s Guide: Making Money with Rental Properties – $14.80 on Amazon. Corporate housing always has played a defined role in most corporate relocations. Smith reveals some of the misconceptions about this destination service. By Kimberly Smith With the trend...

New Corporate Relocation Trend – Medical Marijuana

I live in Colorado where first we made Medical Marijuana legal and now Marijuana in general is becoming legal. They are still trying to figure out all the details like what is the definition of “driving while too high.” For myself and the average observer the issue of medical marijuana is just an interesting news cycle but for others it is a life changing or life affirming requirement. Have you seen this headline? “Sick Family Needs to Relocate to a Medical Marijuana State.” Each year in the CHBO Annual Report we ask about WHY renters stay in corporate housing and...

The Changing Face of Corporate Relocation

Back in the “good old days” when a company wanted an employee or executive to relocate to a different city, often times the company would do whatever it took to move that executive, even purchase the person’s home. Companies didn’t want anything to stand in 15the way of them acquiring top-notch talent from Anytown, USA. However, also back in the “good old days,” selling a home wasn’t nearly as difficult as it is today with homes taking months, even years to sell and many homeowners holding on to mortgages that are underwater. However, the current real estate market slump...

Getting Uncle Sam to Help Pay for Your Move or Company Relocation

This year’s tax season is behind us, whew, but that doesn’t mean it’s time to stop thinking about ways to shave of dollars from your 2010 tax bill come April 2011. Did you know that your moving expenses may be tax deductible? If you find yourself having to move for work, you may be able to write off your relocation costs. It doesn’t matter if you’re moving for your first job, starting a new job or relocating for your current job. You just need to satisfy a few requirements set by the IRS. The move must be 50 miles....

Blog Recommendation: Relocation Services Forum Blog

I’ve been coming across more blogs on topics I find of great interest.  So I’ll be sharing some of these blogs with you as I find them. The first one is called Relocation Services Forum. While the blog isn’t fancy, it does have some great content worth your time. This blog first caught my eye when I spotted this article, Temporary Living for Relocating Employees – Corporate Relocation Guide. The article details all the things you must look for in a short-term rental property when relocating to a new city. It also talks about what might cause a delay...

Rolling with the Recession

It seems in these current tumultuous economic times with unemployment figures up, income levels down and foreclosures looming all over the country, we have to learn to roll with the punches when working in the real estate industry. As a day-to-day furnished rental property manager, I am learning to be more innovative and flexible in my efforts to drum up business. An example of “flexing the rule book,” I have begun to allow shorter-term property management contracts. Instead of pushing the 12-month deals, I am offering on-demand contracts. I ask owners to only sign the dotted line when I’ve...

Pricing Strategies: Raising the Rent in Tough Economic Times

As a do-it-yourself corporate housing landlord, you may wonder when is the right time to raise your rental rate? Consider this: First, I was once given this advice: Your rental rate should have nothing to do with your costs, but rather the fair market value of what people would be willing to pay to rent your furnished unit. This means the fair market rate should be carefully weighed against a number of factors: Others furnished rentals in your area. Is your rental rate on-par with other, comparably-sized and located properties? You may want to raise it (and possibly lower it)...