All Forum Posts by: Account Closed

Buyers like to negotiate and the furniture becomes something that can reduce your sales price not increase it.  Use furniture as a nice add-on at the end of the sale that allows your to hold your sales price high.

Make sure you understand all the lodging tax implications.  Some municipalities have security items that need to be followed, from simple carbon monoxide detectors, to annual inspections by the State.  Both homeowners associations and municipalities can also regulate "if" you can even rent the property for less than 30 days and this could change in the future.  It is good to understand all the possibilities before making an investment.  I have been working with a lot of property owners in Las Vegas who were doing Airbnb until the laws changed and now they have changed and are renting their properties monthly as corporate housing.

If you use a management company for corporate housing it is important that they understand and have relationships with true business clients and they are not just trying to post your rental for lease on the same sites you would have done.  All the best.

My guess is you are speaking with Saundra at AvenueWest Las Vegas about doing corporate housing. She has been working with the City Council to ensure 31+ day stays are not inadvertently regulated as they are an essential part of corporate relocations. 

There is also a free By Owner Corporate Housing Real Estate Report done annually by CHBO. 

There is an annual Corporate Housing Report done by CHPA - The Corporate Housing Providers Association that you can buy:

Dear Corporate Housing Colleagues and Partners:

The accommodations industry continually evolves – and with it, so must your company. As a leader, you’re in control of

your company’s outcome. As a business leader, you need data to inform the decisions that impact those outcomes. The

2018 Corporate Housing Industry Report gives you the national, regional and local data you need to better inform your

company’s decisions and educate clients on your value. With data from 62 North American Metropolitan Statistical Areas

(MSAs), you can benchmark your company’s metrics against industry and market averages.

The Corporate Housing Providers Association’s (CHPA) goal is to be at the forefront of industry changes. As an

organization, CHPA needs to understand these changes - and their impact – and give you tools to be successful in

these new realities. This report is one of these critical tools.

This year’s report highlights include:

 U.S. corporate housing revenue increased 12.9% to $3.62 billion in 2017. Canadian revenue is an estimated $248 million.

 U.S. corporate housing inventory is estimated at 71,201 units while Canada adds approximately another 5,980 rental units.

 Occupancy in the U.S. was down slightly to 86.4%; Canadian occupancy also decreased to 81.8%.

 Overall, U.S. corporate housing average daily rate (ADR) increased to $161 in 2016; ADR in Canada increased to $139.

This resource summarizes past data to help you better predict and understand the future for your company’s key

markets. Evaluate your company’s performance by comparing occupancy, average rate and length of stay throughout

North America. Strategize how you stack up in your market and how to become even more competitive.

This year’s report provides insights to inform your thinking. CHPA provides the connections you need to succeed. We

look forward to supporting your company as we grow the corporate housing industry together. If you're not already a

member of CHPA, we look forward to speaking with you about becoming a part of our network, so we can help you

succeed. 

I have spent the last 25 years leasing fully furnished private residences on a month to month basis to business travelers and have found this allows me to capitalize on increased rental revenue while reducing my PPD (Pain Per Dollar). 

Managed Corporate Housing - where Property Management and Corporate America intersect

US Corporate Housing *

▪$3.6 Billion in Gross Rents

▪66,863 Rental Units

▪87.2% Occupancy

In 2017, the Corporate Housing Providers Association (CHPA) reported revenues of $3.6 billion in the United States alone. That is $3.6 billion in rental dollars that corporations are spending to lease furnished residential properties on a month to month basis. This is an enormous and largely untapped potential rental income stream.

*CHPA – Corporate Housing Providers Association Annual Report

Corporate Housing

Corporate Housing is a lodging solution that is traditionally transacted between corporate employees that need a monthly lodging solution and is found through businesses that provide fully furnished private residences. According to the CHPA 2017 Report, the industry hit its revenue peak, with revenue for the US corporate housing industry estimated at $3.6 billion, a 10.2% increase over the previous year. For the fourth successive year, the supply of US corporate housing units increased. Average daily rate (ADR) rose 6.3% in 2016, approximately double the growth in overall hotel ADR, according to STR / Smith Travel Research.