Corporate Housing by Owner, Inc. (CHBO) launched its 11th Annual Corporate Housing Real Estate survey. The survey gathers evidence of trends from owners and companies in this specialized segment of the industry. The survey solicits input from anyone who managed or owned a furnished, monthly residential rental in the year 2019.
CHBO is an online marketplace offering furnished lodging options for traveling professionals and those needing a temporary home.
This survey is open to take for anyone who managed or owned a furnished, monthly residential rental in the year 2019. Based on data from the Corporate Housing Providers Association (CHPA) and 2017 figures, the entire corporate housing industry is a 3.82-billion-dollar industry. CHBO provides a platform for rental owners and property managers who provide furnished corporate housing rentals to the corporate world.
Sample of what information the survey seeks to determine:
The latest survey results show an increase of 7% in six, nine, and 12-month lease terms. This is an excellent statistic since longer leases can help a property have higher occupancy overall. Longer leases also result in less wear and tear and reduced time between renters for increased profits. In addition, the number of owners offering a discount for longer leases has declined, showing that rates don’t need to drop to get longer stays in place.
It is also interesting to note that there continue to be more and more landlords who have been in business for 10 years or more. More than anything else, this shows that the furnished real estate market is profitable for a large number of people. CHBO will send the results of the survey to all participants.
Corporate Housing By Owner (CHBO) was founded in 2005 out of a need to connect private homeowners and property managers offering furnished monthly rentals with corporate housing seekers. These travelers consist of traveling executives, relocating professionals, traveling nurses, actors, athletes, consultants and more. The company provides individual homeowners, real estate investors and property managers resources to help guide them strategically in managing their rental properties. The CHBO platform provides the connection to thousands of potential tenants seeking monthly housing options.