Should You Market Your Corporate Rental to Homeowners?

Choosing the right real estate property

In one of our articles from a few years ago, we addressed the issue of whether your homeowners insurance would pay for extended stay lodging in the event your home became unlivable. The long and short if it was that not all insurers do provide this coverage, but since that time many have added such provisions.

After all, with more and more areas experiencing extremes in weather, more and more homes are damaged by flood, fire, water and wind or lightning. This can sometimes force homeowners out for lengthy periods while repairs are made (up to six months at a time).

Blocks home

So, if you rent your furnished property as a corporate rental, it makes good sense to consider a bit of niche marketing towards homeowners and even insurance agents who offer policies through companies that cover extended stays. And of course, now is the perfect time to consider this new avenue as the summer season is right around the corner, and it is unfortunately the “season for water damage”.

Weather and Your Corporate Rental

Just consider that homeowners may need access to an extended stay due to damages to their home from a severe summer storm (rain, hail, wind, lightning, etc.), due to accidental flooding issues while they were on vacation (burst pipes, plumbing issues, and so on), and ground water problems that cause flooding inside of the home. If you rent your furnished property, it could be precisely the situation a standard household needs after their own home becomes uninhabitable.

This is even more the case if your corporate rental is one that has adequate accommodations for children and families with pets. The property is “turnkey” with the appliances and setting ideally suited to a family suddenly without a home. You can rent your furnished property as a home away from home to a family rather than as a corporate rental and earn the same income since the stay is paid for by insurance coverage.

Marketing Your Corporate Rental

Of course, you may want to know how to rent your furnished property to this unique group. The good news is that it is quite easy when you rely on the CHBO site to support all of your marketing efforts. Insurance providers are already looking into a corporate rental for some policy holders, and you can also get in touch with all of your area insurance agencies to alert them to the fact that you do rent your furnished property to more than corporate clients.

It is not at all difficult to develop new potential streams of income for your corporate rental, and homeowners in need of extended stay options may be that untapped market you have been needing.

How to Request Reviews from Corporate Housing Rentals

corporate rentals

If you are someone who offers corporate housing rentals, you may already know that there is a bit more work to it than you may have initially imagined. Still, it is a great way to monetize ownership of a property and even more so if you can get feedback and reviews on corporate rentals and apartments.

Before you throw your hands up in frustration at the fact that another item has to be added to the “to do” list, you should know that it is not all that difficult to get reviews for corporate housing rentals, and it can be a very insightful experience. Though you can always have customer comment cards in your properties and an easy online questionnaire, what you really want are reviews posted to the actual listings for your corporate rentals and apartments.

Request review for corporate housing

Naturally, you may wonder just why you will even need reviews on corporate housing rentals, and the short answer is because it helps you to get more customers over the long term.

The Reason for Asking

Doing anything online comes with risks, and if you can mitigate those risks, you increase your chance for bookings. An easy way to do this is to show that a potential renter can trust you and this can be easily done with favorable reviews on corporate rentals and apartments. After all, favorable word of mouth from confirmed and actual clients allows others to see that any of your corporate housing rentals are going to be a sure thing.

Of course, you need to be certain that you can always receive those thumbs up and multiple star reviews, and that means you need to do your very best where customer satisfaction is concerned. Once you have perfected your approach to corporate rentals and apartments, your reviews become your leg up against the competition.

Here is what we mean: Let’s say you have one or two corporate housing rentals in a potentially lucrative building in the ideal neighborhood of your city. This alone makes your property or properties interesting to many potential renters. Let’s also say that there are four or more other properties in the same neighborhood. You can decorate beautifully, make a great online listing with lots of detail, and even have a better offer but still lose out to someone with high amounts of positive feedback.

Taking the time to request reviews is a way to ensure you stand out no matter how intense the competition.

The Big Ask

So just how do you get reviews for corporate rentals apartments? You write an accurate description that does not over promise. You deliver top of the line customer service. You give your renters a few days to get home and settle in to their routine, and then you simply email them a simple request for a review. Let them know that you want to know if their experience was great or even if there were problems – and explain that you want to ensure that their review is a learning experience if there are issues.

If you have CHBO properties, you can also use the simple “Request a Review” feature in your Dashboard. Enter your guest’s email address and send them a request through the site. They can use the simple click and post options, add some comments and give you the feedback you need to improve your returns.

How to Prevent Illegal Subletting of Your Rental Property

illegal subletting

If you are in the business of offering furnished housing rentals, or you have corporate apartment rentals as a form of investment, you know that you need to keep a close eye on those properties at all times. This is to ensure that guests get the quality stay that you have promised, but it is also to ensure that there is nothing illegal or unwelcome occurring on the premises.

As the simplest illustration of this, consider the ways to sublet furnished housing rentals. For instance, you might approve of a renter and make all of the arrangements for their stay. They might then turn around and post a listing for that very same property on a different site and start to earn a small profit from their tactics.

Because your corporate apartment rentals are meant to give a renter their privacy, it may be very difficult for you to even realize that your furnished housing rentals are being treated in this way. Additionally, it is not at all unheard of for corporate apartment rentals to end up as the site for larger groups, unauthorized parties and events, and more.

illegal rental

That means it comes down to you, as the owner of the furnished housing rentals to have ways of monitoring and preventing illegal subletting of the corporate apartment rentals. The first and most obvious way to do this is to put it directly into the contracts signed by those doing the renting. If it is clear that they forfeit their security deposits or other pre-payments and assume full financial liability for damages, it may make it less likely that they do the illegal maneuvering.

Making visits to the property are a potential answer to preventing subletting, or discovering it has occurred, but you would then need to use your legal options as laid out in the rental agreement. You can also periodically search for your property on the most common sites offering furnished housing rentals to see if someone is seeking to profit from your corporate apartment rentals.

Start Off Right

Of course, one of the best ways to prevent the illegal subletting of a property is to work with websites that strive to eliminate such risks. As an example, if you are working with a corporate rental site, it is far less likely that the dubious characters who use subletting are going to take the risks of renting through such sites. That is because there are approval processes and lots of paper trails that would show that subletting was never part of the arrangement.

You can also hire a professional property manager or a property monitoring service to handle your property or properties. They do all of the due diligence that screens potential renters and helps identify anyone with a history of trouble or subletting tactics.

It is important that your lease is very clear about subletting and that you follow up with renters to be sure this is not occurring. Once they have sublet, it can be very difficult to force someone to vacate the premises. Working with an expert in corporate housing rentals is a good way to avoid such headaches.