All Forum Posts by: Account Closed

The real value that you get from a corporate housing property management company is tapping into their direct business to business relationships.  These exclusive relationships allow them to charge higher rental rates than you are able to get booking monthly rentals from Airbnb.  Questions to ask: How long have they been in business?  Where do they get their guests? Are they accredited through CHPA / Corporate Housing Providers Association or an other organization?  Are any of their employees CCHP / Certified Corporate Housing Professional?  What business travel organizations are they members of?  Are they an approved GSA provider for the federal government?  

@John Mayer  I use Google Alerts and follow the term "Denver Relocation"

@Farrukh Amini I have been working with a number of possibilities in that area but haven't found the right match.  

It can be tough and generally takes time to connect with the right corporate client on a consistent basis.   You can connect through distribution platforms, connect with other corporate housing companies, work with relocation companies and ultimately connect directly with the corporations.  At AvenueWest Managed Corporate Housing we monitor 26 different national platforms to connect our privately owned furnished monthly rentals with corporate travelers.  I have found over the years that you need to be marketing in a dozen or so different ways to consistently snag the clients that you want.  

My experience says it is seasonal.  VF is moving a couple hundred more employees to Denver this summer so we should experience another great rental summer like last year.

Traditionally Monthly Residential Lodging for business travelers has been called - Corporate Housing - estimated at $10 billion in annual rentals in the US (according to the last SKIFT conference).  According to CHPA / The Corporate Housing Providers Association there are around 75,000 of these rental properties with an average stay between 84 and 88 days.  I appreciate sustainable and residual income, so I appreciate that with the business traveler I can develop a client relationship with the company who will rent from me on a regular basis.  This way I am not just having to react when my property is vacant.  I can be proactive and build relationships.

30+ Days has traditionally been called "Corporate Housing"  There are resources on trade association website - www.CHPAonline.org .  Also if you look at past Real Estate Annual Reports done by Corporate Housing by Owner you can learn what hundreds of property owners thought when marketing their monthly furnished rental.

A lot of STR owners are turning to Monthly / Corporate Housing Rentals as this allows them to capitalize on increased rental rates while complying with local laws. CHBO / Corporate Housing by Owner has a FREE resource library once you register for free where you can learn all the ins and outs of this lodging segment. The best way to start is calling CHBO and speaking with a Property Specialist about your specific property.

The hard part about Corporate Housing is getting into the true business client who does business through approved vendors and not on websites.  AvenueWest Managed Corporate Housing has 15 locations across North America that can manage your rentals and has spent the last 20 years building these business relationships.

@Brett Tvenge  SF rents are interesting these days and don't play by all the rules - I am not currently managing anything in that building but I have another studio with parking that is renting for $4,175 a month.

@Greg Gaudet  Zillow says $575,759