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%...

What is Corporate Housing Property Management?

What is Corporate Housing Property Management?  In the CHBO Annual Report we asked property owners to tell us how they take care of their properties. We asked respondents to tell us how they manage their rental properties. At an all-time high, 92% of respondents say they do all their property management them selves. This number is up from the all-time low of 72% in 2013. Previously, we had hypothesized that the decreasing trend in “do it myself” management was due to accidental landlords deciding they needed more professional support. In our 2013 annual report, we predicted that we expected...

Trends: Corporate Housing Real Estate Predictions.

Really we all want that perfect crystal ball that lets us know what the future looks like and when it comes to real estate investing it is even more essential to know what the future looks like and how these properties will be good investments. – Kimberly Outlook for 2016: Corporate Housing Real Estate Predictions for the Future According to respondents, their outlook for 2016 is very positive. The number of respondents who say the future looks “much better than last year” held strong at 21%, down just slightly from 23%. 41% say they predict that 2016 will be...

Colorado Couple Finds Stream of Quality Tenants at CHBO

Ray and Rayetta Thomas’s home is nestled in a private neighborhood in Manitou Springs, Colorado. The property has a breathtaking, unobstructed view of Pikes Peak and is minutes from Colorado Springs, Colorado. When it came time to renovate their detached garage, Ray and Rayetta decided to put a flat roof on the garage so they could add a second story guesthouse on top. After the project was complete, the property sat vacant with the exception of a few guests here and there. Rayetta says she felt the home was too valuable to be vacant all the time. It was...

Property Management: 4 Smart Home Products to Help Manage Your Corporate Housing Rental

Have you ever heard it is not what you make but what you save that makes you successful. Well the phrase has never been more relevant than when talking about utility expenses and property rentals. There is no additional value that you, your tenant or the property gets from paying more than you need to on your bills. Today, Kerrie Kelly, a professional interior designer walks us through great ways to save money and increase the value of the rental property you offer. – Kimberly 4 Smart Home Products to Help Manage Your Corporate Housing Rental By Kerrie Kelly, ASID Energy bills are...

Trends: Corporate Housing Real Estate Landlords.

“Who is a Corporate Housing Real Estate Landlord?” is a question we get a lot at CHBO. Real Estate investors want to know if they would be a successful landlord and if their property would be a good match for the needs of the business travel. The following is what we found in the CHBO Annual Corporate Housing Real Estate Survey. Property Locations – Where is your property located? We received hundreds of survey responses from property owners and real estate managers across the United States including 32 states and the District of Columbia. Similar to last year, the...

Trends: Corporate Housing Real Estate Report.

After two decades in the corporate housing real estate sector, I’ve come to appreciate and respect the importance of watching trends and studying data. As you look for ways to be more successful with your rentals and capitalize on emerging trends, our 2015 Corporate Housing Real Estate Report can help. This report contains the results from our annual corporate housing real estate survey — now in its seventh year. Once again, we received hundreds of responses. I’d like to thank everyone who took the time to complete our survey. We appreciate your input! – Kimberly The Need for Corporate...

Insurance Questions for Your Provider and Your Property Manager

For most people, homeowner’s insurance is pretty straightforward. Since they’ll be the ones living in the house, they aren’t overly worried about getting coverage in case of an accident. In general, they just want to be able to pay no more than their deductible if there’s storm damage to the house or if there’s a break-in. For landlords looking for insurance for rentals, especially those with furnished housing, insurance is an entirely different beast. If you’re signing on with CorporateHousingByOwner to rent furnished housing to corporate tenants, you’re going to have a few questions for both your insurance provider...

DIY Property Management: Updating Bathrooms in a Corporate Housing Rental.

How to Create an up to date Corporate Housing Rental by setting a Budget for a Bathroom Renovation: In The CHBO Corporate Housing Handbook we talk about the importance of clean and up to date corporate housing rentals. Remember when determining your rental rates the first factor is the number of bedrooms and the second factor is the number and quality of your bathrooms. Remember your corporate housing renter is not just coming to stay the night, they are coming to rent your property for an extended period of time (according to the last CHBO Annual Report 15% say...

Real Estate Investing: The Lottery Backup Plan!

Real Estate Investing: The Lottery Backup Plan – just in case you didn’t win! I know we were all a little surprised last week when we didn’t win the billion dollar lottery.  The great news is we have other options for building our wealth that don’t have to include luck and unachievable odds. Since I get to talk a lot about real estate investing I thought I could share a few of those ideas with you… If we could all win the lottery the reality is we probably would not be in the market for investment real estate. However, since the...