Tips: Tenant Reviews

Have you also discovered Cottageblogger.com? They are one of my favorite blogs for great ideas and tips on furnished rentals. Since Tenant Reviews are so important on your CHBO property listing for connecting with that next great tenant I asked Cottage Blogger if we could re-post this and they said yes. Thank you to Heather Bayer for all your great information we all really appreciate your willingness to share – Kimberly 10 WAYS TO PREVENT COMPLAINTS AND NEGATIVE TENANT REVIEWS FOR YOUR VACATION RENTAL Oh no…..a negative review! The day you get the first of these is never a happy...

Top 10: Corporate Housing & Real Estate Investors

10 Questions every realtor should be prepared to answer about corporate housing Part II 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? 4 – Who rents (prospective tenants) a corporate rental? Corporate housing has been traditionally utilized by traveling business professionals who are staying in a city for one or more months at a...

Corporate Housing: Should You Allow Weekly Rentals?

It’s likely a prospective tenant will ask if it’s okay to rent your property for only a week.  What will you say? From time to time you may be asked by a potential tenant if you would be willing to rent out your property for a week-long stay. Typically these tenants are looking to book for a future date (ie, a planned vacation). While most corporate housing stays are at least one month long, it’s not uncommon for corporate housing owners to be approached with someone in need of a weekly rental from time-to-time. So should you allow it?...

Buying Real Estate? Corporate Housing vs Vacation Rental

When I invest in a real estate rental property is there a right way and a wrong way to rent it? And if so is there a way I can distinguish what is best between a corporate rental vs. a vacation rental opportunity?  What should I look for and what should I ask? According to the 2012 CHBO Annual Report: 19% of Corporate Housing Investors are ready to buy more real estate this year. What is a Corporate Housing Rental? The biggest difference between a corporate rental and a vacation rental is the length of the occupancy. Corporate rentals are...

PPD = Pain Per Dollar – Watch Out for the Tax Man!

A few years back a CHBO property owner told us that she was switching from renting her property as a vacation rental to renting her property as a corporate housing rental.  We asked her why and she said “PPD.” The CHBO Property Specialist ask her to explain.  PPD she told us was, “Pain Per Dollar.” She wanted to make money with her rental property but trying to fix and flip her property nightly and weekly was just too much work.  She was excited to get Corporate Rents who paid good rates but also stayed longer. According to the 2012...

Success Story! West Hollywood Homeowner Rents Out Guesthouse as Corporate Rental and Finds Sweet Success

Todd Hunter, a building manager of a 10-unit apartment building, decided to add “landlord” to his resume. In 2012, he bought a duplex with a back guesthouse in West Hollywood, California. His plan was to rent out the guesthouse to supplement his monthly mortgage payment. After closing on the property, one of Todd’s friends recommended that he furnish the guest house and rent it out as a corporate rental in lieu of a standard rental. “I honestly hadn’t even considered renting it out as a furnished rental because it’s not a particularly common thing in West Hollywood, at least...

What Not To Do As a Corporate Housing Landlord

When I travel I always try to stay in a weekly corporate or vacation rental property. A few weeks ago I traveled to Chicago and did just that – stayed in a corporate rental managed by a property management company. At first I was thinking that I would get wonderful service. Property management companies know what they’re doing. But from the minute I arrived, I had a gut feeling I was in for a disappointing experience. This leads me to the title of this blog post, “What NOT to do as a corporate housing landlord”: Don’t Forget to Provide...

CHBO Helping Families Displaced by Sandy Find Temporary Corporate Housing

We are very saddened about the devastation Superstorm Sandy has caused our east coast neighbors in New Jersey, New York, Rhode Island, Pennsylvania, Connecticut and other surrounding areas. Our hearts are hurting too even though we are not directly impacted ourselves here in Denver. We know this is a very difficult time for everyone affected – especially for those whose homes will need to repaired or even rebuilt. Many of you will need temporary housing more than ever as you move forward with your lives. If you are or know someone who is in need of short-term housing while...

Are You Overpaying for Free Vacation Rental Sites?

It’s easy to get confused as to which rental listing site is best for your rental property. There is one rental site that seems to be confusing many of our members. This site advertises that you can list your rental home on their site for free. But if you read the fine print, you’ll soon realize that the site collects 3% of each accepted reservation to cover the cost of processing and then keeps an additional 6-12% of the booking fee!  Tenants pay the site and then funds are transferred to the landlord, minus the company’s cut, of course....