I just came across this site that may be beneficial to those of you who have rentals that you may want to rent out to corporate clients:
Has anyone used this site and can provide any feedback on it?
I've been thinking in my off season that temporary housing for people on a short term gig/consulting job would be good to advertise to. Also, I'm planning on marketing to Realtors for people between housing when they are buying/selling (during my off season)!
@Kelly B. That sounds like an excellent idea of marketing to Realtors, because (as we know) there are numerous times you'll hear someone has sold their house and tried to match the closing date and signing date to be in sync with one another so they can move from their old house to their new house. But, as we know, the best laid plans don't always come to fruition.
I've seen here in Seattle that quite a few people are relocating (primarily for tech jobs), and have a decent amount that their companies will pay for their scouting trips to check out the areas, but sometimes it's not enough time before they have to start their job, but they don't want to commit to a particular area and/or buy a house until they arrive and get a lay of the land. Yes, they can stay in hotels, but some people have larger families and/or animals (if you allow animals), and it can be more convenient to stay someplace that has a "feel" of being more homey.
As a side bar, I've read on this site that most of the landlords prefer NOT to allow animals, but for those who do, they can open up their renter pool significantly. People are traveling with their animals more and more, and from my experience, they are willing to pay more to stay at places that allow animals. Not ridiculous prices, but definitely at a premium rate.
HI i am also using Corporate Housing By owner and yes its a perfect site if you want to rent out your furnished property in United States or Canada
What is the tyipical vacancy rate for Corprate housing?
I'm worried about having 2-3 months unrented?
Typically owner's experience about a 10-20% vacancy rate on avg. if the property is located in a market that has high volume traffic coming in. However, with the difference in rate you can charge being turnkey in most cases it makes up for the possible downtime.
@Chanté Owens I'm also listed on CHBO for about 4 months now. I have ALOT of general inquiries and just recently a serious inquiry for my property (not just in Arlington or within 50 miles = general inquiry). I still get the bulk of my tenants and bookings from Airbnb! I would imagine it wouldn't hurt to list to see how you do because everyone's experience will be different. Let us know what you decide!
@Lauren Lockett Thanks for the information! I don't (currently) have any rentals, but I did want to post this for others in case they wanted some other alternative ways to rent their properties.
I'm glad you are getting inquiries from it, but I do understand that AirBnB business is blowing up for a lot of people, so it's good to see you are benefiting too. Here's to an even better 2017!
I've been thinking about this too, but so far Airbnb has even kept my mid-term furnished rental (think corporate/student/snowbird) full with back to back bookings. So haven't listed yet..
Thanks @Jeremy Blackburn !
Anyone else have recent experiences with CHBO? I'm considering this with one of my properties. Thanks!
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