Archive for the ‘ Trends ’ Category

Your Vacation Rental Might Be a Corporate Rental If…

Many of you might wonder if your furnished vacation rental could also be marketed as a corporate rental. It’s a good question and shows you’re thinking about ways to maximize your exposure and income.

Here are some telltale signs that your vacation rental might be a good corporate rental too:

Location, Location, Location:  Is the location of your vacation rental near a large city, big business, hospital, theater, university, or event center? If so, your vacation rental can easily double as a corporate rental. Corporate housing is typically used by traveling business professionals, relocated families, visiting doctors and nurses, and those traveling for medical treatments. The perfect vacation and corporate towns include cities such as Orlando, Las Vegas and Atlanta, which serve as both business meccas and vacation hot spots.  On the flip side, if your rental property is located in a niche ski village or cozy beach town, it’s likely more appealing as a vacation rental.

Seasonal Trends:  Season can often dictate whether your furnished rental property would be more profitable as a corporate or vacation rental. During peak travel seasons in your area, perhaps you can ask a higher rental rate from vacationers. However, if large conference comes to town, like the Consumer Electronic’s Show in Vegas, you might want to reserve the property for a corporate client to maximize your rental income.

Rules and Regulations:  Always consider local laws and regulations when deciding how to market your property. Some cities like Chicago, Austin and New York do not allow for nightly or weekly rentals, which are typical for a vacation period of time. In these cities, consider marketing your property solely as a corporate rental, which typically require a minimum stay of 30 days. Other regulations that might impact how you market your property might include city ordinances and home owner association rules too.

Pain Per Dollar:  If you’re like me, you might want to have a renter stay for at least a month, after all, you know the great effort and investment required to turn over a property between tenants. If you want less “pain per dollar,” consider offering your rental home solely as a corporate rental with a minimum stay of 30 days. This means you’ll be turning the property over less and will have less grief per dollar.

Pre-Bookings:  Vacationers like to book their properties month’s in advance of a stay, which means your property won’t be available to someone who approaches you for a long-term stay. For a corporate rental, we generally recommend booking no more than a month out so you are available to someone for a long-term booking. This is something to consider as you choose between marketing your property as a vacation or corporate rental.

Remember, you don’t have to choose whether to market your property one way or another. You can do both depending on seasonal trends, location and your tolerance for pain (pain per dollar).

To Relocate or Not? Use Furnished Rentals at Both Ends :)

Q. How can you minimize the risks, both financial and personal, of moving for the sake of a job?

A. Temporarily renting a house or apartment in the new area while renting out your existing house, if you own one, is one way to do that, Ms. Ranieri says. It lowers your financial risk and gives you time to learn about the job and the new city before making a long-term commitment. “You can’t really know everything about it until you are living and working there,” she says.

Is your vacation rental legal?

Is your vacation rental legal?

Fueled by the housing bust and embraced by cost-conscious, Web-savvy travelers, short-term vacation rentals have been booming from Manhattan to Maui. But so has controversy, as irate neighbors complain about the negative impact of transients and traditional lodgings say inconsistent local laws put them at a competitive disadvantage.

Now, a coalition of major players in the short-term (less than 30 consecutive days) rental market — Airbnb, FlipKey, HomeAway and TripAdvisor — have joined forces to influence cities’ attempts to regulate or ban the trend. Their new website, the Short Term Rental Advocacy Center, spotlights current legislation in 10 U.S. destinations. Though aimed primarily at policy makers and owners, it also lets would-be renters know the rules surrounding their stays.

Hottest US Real Estate Market? Washington DC

How hot is Washington, D.C.’s real estate market? Laura Schwartz, a realtor with Keller Williams, recently worked with a luxury high-rise apartment in the Ballston neighborhood of Arlington, Va. Two days after being listed, the property received five offers, and ultimately closed at $15,000 over the asking price.

“Our spring market has taken off quite early,” said Schwartz. “We’ve reached that stable point where we’re out of a buyer’s market.”

The nation’s capital has been a leader when it comes to real estate.

While much of the country’s housing market continues to languish, Washington and the surrounding area have seen tight inventory and price growth in recent months. For particularly competitive listings, even bidding wars have returned.

The D.C. Metro Area, defined as the city of Washington and seven surrounding counties, saw the average sales price rise five percent to $406,555 in December, compared to the previous year, according to research firm RealEstate Business Intelligence LLC (RBI).

Sales totaled 3,169 in December, up 89 percent compared to the previous year, and the total value of homes sold was $1.28 billion, up 12 percent from the previous year.

The federal government’s mass of workers has been a stabilizing factor for the region, providing a base of high-paying jobs. Related industries, such as government contractors, have also kept unemployment down. Tech firms have been growing, as well.

The Washington area had an unemployment rate of 5.5 percent in December 2011, the 36th lowest among 372 metro areas,,_D.C

Scams – yes they are real – protect yourself now!

I like to think the word is a nice happy place – but the reality is – it is not – bummer!

How can I protect myself?  Let’s start by asking a few more questions and second Never EVER – I mean Never EVER wire money before you arrive in a furnished corporate rental – and NEVER send a security deposit – ask for traveler’s insurance instead!

Healthcare Travler?

Did you know there are over 200,000 traveling nurses in the US each year? These individuals find it exciting to travel from city to city – they generally stay in each city for 6 months to a year – they can follow high paying jobs and have fun doing it – if you want to learn more about these corporate housing users I like  Healthcare Traveler  This month they talked about ” Tax Tips: Understanding duplication living expenses” and “Celebrating Travelers’ Bucket List” .  If you are interested in traveling for work – take a look and always remember if you need a place to stay… anyone can rent corporate housing – it is the cool place to be, is less expensive then a hotel and offers you all the comforts of home – Call your local corporate housing provider we want to help you find the right housing solution – bottom line… everyone needs corporate housing!  Ask me about it.

Mobility and the US Jobs Report

Wow  I love this dialog – let’s keep it going – Traditionally the US has had a MOBIL work force – we all just moved and sold our houses to get to the next best job – well now we can’t, so what should we do?  Have you experienced this? are you underwater in your home and WISH you could move for a job? Really? let us know because everyone else is talking about it and they want to know too.  In the month of June I was interviewed on camera by CNBC and over the phone by US News & World Report all about this idea of mobility – what should we do?  When I was a kid we lived in Denver a city hit hard by the oil crash of the mid 80’s, my Dad needed a job so what did he do?  He sold his house and moved to a new state to find a job – what are we doing today?  can corporate housing help?  I hope so.

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