Corporate Housing in San Francisco Bay Area

6 Replies

Hi all,

we are Gianluca and Matteo, both Software Engineers working for major Silicon Valley software companies and aspiring real estate entrepreneurs.

We’re currently working on a corporate housing platform with the objective of creating an automated service for renting out and managing corporate-level properties. As part of the process, we will transform an average, unfurnished property into a high-end, fully furnished corporate tenant-ready home.

The platform is far from complete and we’re currently validating our assumptions. In this phase, we’re collecting opinions from both landlords and companies with the objective of better understanding what are your experiences and pain points. We're currently focusing on the San Francisco Bay Area market.

If you’ve used other corporate housing services, what doesn’t work in your experience or could be improved? If you have not, what would make you consider switching to this model compared to a more classic rental or Airbnb? Please let us know below or contact us directly.

Any feedback is very much appreciated!

Gianluca and @Matteo Palvarini

Originally posted by @Gianluca V. :

Hi all,

we are Gianluca and Matteo, both Software Engineers working for major Silicon Valley software companies and aspiring real estate entrepreneurs.

We’re currently working on a corporate housing platform with the objective of creating an automated service for renting out and managing corporate-level properties. As part of the process, we will transform an average, unfurnished property into a high-end, fully furnished corporate tenant-ready home.

The platform is far from complete and we’re currently validating our assumptions. In this phase, we’re collecting opinions from both landlords and companies with the objective of better understanding what are your experiences and pain points. We're currently focusing on the San Francisco Bay Area market.

If you’ve used other corporate housing services, what doesn’t work in your experience or could be improved? If you have not, what would make you consider switching to this model compared to a more classic rental or Airbnb? Please let us know below or contact us directly.

Any feedback is very much appreciated!

Gianluca and @Matteo Palvarini

 I have 19 furnished apartments in the SF Bay. Used to pay Guesty 3% of revenue, which was almost $20k for them last year. But it was all geared towards short-term rentals. A lot of our corporate guests stay 1-3 months. But there weren't many tools geared towards longer rentals. It was almost all focused on managing short-term vacation rentals. We stopped using them and I'm just paying my staff to do everything now. $20K is too much for what we received. And didn't like the % of revenue model. 

CHBO is an outdated site that still does quite a bit of corporate rental business. 

@Gianluca V. is your intention to market to landlords who have a vacant place and think it is too much work to furnish it so you rent it from them then furnish and manage it or are you providing a platform for people like @J. Martin   , @Al Williamson and myself to post our corporate rentals or both?

Complaints/pain points airbnb drives a ton of traffic and is most of my business but they charge about 15% total of a booking. They also penalize me with non-super host and low acceptance rate because I have to do 30 day minimums in San Francisco.

2nd Address. Charges about 13% and doesn't get me any bookings unless I lower my price below airbnb prices.

CBHO no personal experience but I've heard they charge a lot up front and don't deliver results.

Furnished Finder - good if you have affordable housing for traveling nurses. Very reasonable prices but doesn't work for more expensive properties so far.

Thank you all!

@J. Martin

@Sean Walton  

@Al Williamson

Correct, in the short term we're starting out by renting from landlords, furnishing, and placing corporate tenants. Similar idea to what @Ethan Cooke is also doing in SF.

While growing this business, the intention is to build the needed automation behind it for ourselves, which could eventually become a platform for all of you to use. This is why the feedback on the experience that you're having is extremely useful.

It seems that currently, Airbnb is the platform of choice for both of you. Are we talking about the standard Airbnb or the "Airbnb for Work" product as well?

For the corporate tenants you might have had, have you focused on creating relationships with those companies, so that they could provide a future stream of incoming employees, or have you fully relied on Airbnb as the only communication channel?

@Ariel Vincent Would love to know more about your experience! Will DM you, but feel free to share here if you think it can be useful to others.

Thanks all!

Gianluca