Archive for October, 2012

My conversation with “Work Reimagined” by AARP

Make Your House Work For You

During career shifts, your house doesn’t have to be a ball and chain. In fact, it can crank out extra cash.

By Sarah Mahoney  |  October 23, 2012

When Jule Zacher, a 48-year-old software consultant, decided to take a new job in Silicon Valley last September, she was both elated and torn. The new position was terrific, but it meant leaving behind “a quintessential Toronto home, a beautiful house and yard that I had redone from top to bottom.”

At first, she thought about selling, but quickly realized she could make more money by renting it. “I can save that as a retirement investment, and defer any tax implication,” she says. She found CHBO, or Corporate Housing By Owner, a website that charges property owners a $279 fee to advertise to corporate relocaters. Within two weeks, she had a six-month lease with a tenant paying $5,000 per month, covering her expenses while she builds her new life in California.

Add Zacher to the growing list of accidental landlords. Some rent their homes outright, or just their basement; others are taking in boarders. What they have in common is that they’re suddenly sizing up their abodes as a source of cash, not just a place to put their feet up and watchDancing with the Stars.

Renting Your House

For many, offering a home as a furnished corporate rental is ideal, says Kimberly Smith, founder of CHBO:

There are plenty of takers.  “People don’t understand how big a need there is for this kind of housing,” she says. “There are 100,000 travelling nurses at any given time, for example, while the Department of Defense moves 600,000 people around per year. There are divorces. Lots of people need short-term rentals.”

You don’t have to get rid of your stuff. Since these rentals are furnished, you eliminate the hassle of storage. (Many owners lock their valuables and knickknacks up in an owner’s room or closet.)

You get good tenants. Renters in this category are typically low maintenance. A traveling executive in town for a two-month project isn’t likely to care what color your dining room is, or throw noisy parties.

You get your house back whenever you want. While these short leases mean more work (since you’ll be screening new tenants frequently), they also add flexibility. “If you land a job and get back on your feet, there’s no need to wait months or years to get your property back from renters,” Smith says. The average length of stay is about 100 days.

Once you’ve begun screening tenants, “do background checks, and go through a very formal application process,” she says. “Google them. Ask for their driver’s license. Run credit and background checks. And do walkthroughs, including video inspections.”

(CHBO doesn’t do any screening, but it provides DIY guidelines on such details as insurance, accepting credit cards and researching tenants.)

Another option, if you’re willing to invest in renovations, is renting out part of your home. When Peggy Northrop, editor-in-chief of Work Reimagined, left a high-profile job at Reader’s Digest, she and her husband found themselves struggling with too much real estate. “For years, we had lived in the top three floors of a house in Brooklyn, and rented out the basement apartment. We had also bought, fixed up and furnished a home in Connecticut. Plus, we are helping my husband’s son with his apartment, as well as our daughter, who is in college now.”

At first, she says, “I kept thinking, `I can’t afford all these houses. I have to find a job that pays exactly as much as my last one.’” But what she really wanted, she decided, was more freedom—to consult, to travel, to start her own business. “And with my daughter gone, I realized we didn’t need to live in our house the way we had been.” The result? She and her husband are renovating the basement and moving downstairs, and leasing out the triplex. “By renting out just part of one house, I’ve found a way to afford them all.”

 

Corporate Housing in San Diego?

Corporate Housing in San Diego

CHPA Network Connection – Open to ALLConnect with CHPA in your market to discuss local trends and issues while networking with other corporate housing professionals in the area.  Join us for industry insights, partnership opportunities and more.brought to you by CHPA.
Date: Tuesday, November 13, 2012
Topic: Wow! What a summer!?Discuss the current business environment and industry trends you are seeing with your colleagues in the San Diego area.
Location: Domain San Diego
8798 Spectrum Center Boulevard
San Diego, CA 92123
Host: CHPA
Facilitator: Madison Hospitality
Sponsor: Signature Furniture Rental
Food: Food and beverages will be provided
Cost: Free to both members and guests
RSVP: Click here!

SBA offers great business tools

SBA offers great business tools

If you are a small business owner, you need to know how your business stacks up with the competition in order to succeed. SizeUp will help you manage and grow your business by benchmarking it against competitors, mapping your customers, competitors and suppliers, and locating the best places to advertise.

Get to know the Corporate Housing Industry – CHPA Regional Conferences

Now is the time to start learning about the Corporate Housing industry – only $225 for non-CHPA members

Washington, DC Regional Conference  October 18, 2012 » 11:30 a.m. – 5:15 p.m.

Chicago, IL Regional Conference  November 6, 2012 » 11:30 a.m. – 5:00 p.m.

 

DC Event 

Prospecting for Success, Kevin Toomer, Premier Furnished Solutions
Gain confidence and the ability to secure appointments with qualified prospects for the corporate housing industry. Learn the principles of successful prospecting and directly apply the program to your current efforts in today’s challenging competitive environment.

Outsell, Outmarket, Outpromote, But Never Outspend! Bill Todd, Immediate Impact Marketing
Gain an arsenal of cutting edge ideas, strategies and tactics to increase sales, decrease marketing costs and improve your bottom line. Learn how to be more successful and spend less than your competitors. Implement these solutions immediately and start seeing results!

State of the Union: Government Spending
Kathy Lane (moderator), National Corporate Housing; David Chertcoff, DMC Management Services, LLC; Bill Foos, Basic Overnight Quarters; Chris Scott, Office of Asset and Travel Management, Office of Government-wide Policy
What’s really going on with government spending in the GSA and DOD sectors? What determines government standards, policies and per diems rates? Are your standard ‘perks’ potentially fraudulent per government regulations? Get an insider’s view on these issues and the impact on your business’s success. Corporate housing professionals also share their experiences and perspectives on how to successfully navigate this important sector.

Chicago Event

Lunch continues with presentation: Rental Trends in Chicago, Ron DeVries, Appraisal Research Center
Get an insider look at trends impacting the local market from an industry expert. Experienced with Chicagoland Apartment Association, Ron DeVries gives a uniquely qualified perspective on rent trends for conventional apartments in the Chicago area.

Prospecting for Success, Kevin Toomer, Premier Furnished Solutions
Gain confidence and the ability to secure appointments with qualified prospects for the corporate housing industry. Learn the principles of successful prospecting and directly apply the program to your current efforts in today’s challenging competitive environment.

Outsell, Outmarket, Outpromote, But Never Outspend! Bill Todd, Immediate Impact Marketing
Gain an arsenal of cutting edge ideas, strategies and tactics to increase sales, decrease marketing costs and improve your bottom line. Learn how to be more successful and spend less than your competitors. Implement these solutions immediately and start seeing results!

Expert Insights into Today’s Relocation Trends
Larry Gersch (moderator), Kraft Foods; Deborah Benavides, Shorewest Realtors; Karen Danner, Koenig & Strey; Tiffany Johnston, Weichert Relocation
Learn first-hand from relocation professionals what’s new in the industry and how that impacts what you need to be doing right now! Now more than ever, it is critical for companies to stay informed of the ever changing mobility landscape. Explore major trends emerging in relocation programs and potential implications for the corporate housing industry.

 

Starting a Corporate Housing Business

An AvenueWest Managed Corporate Housing Franchise is best suited for something with real estate or corporate housing experience and for someone with general business knowledge.  Lets face it, there are a lot of moving parts with running a multi million dollar business.  AvenueWest is, at its core, a provider of class “A” corporate housing properties designed to meet the housing needs of the business traveler.

So what can you do if you are interested in getting started but might not yet be qualified to be an AvenueWest Franchisee or have a different product model in mind?  Actually we get calls like this every week and would be happy to answer your general questions but to get you started here are a list of resources that you might find helpful.

SBDC – Small Business Development Centers

Starting a business can be a challenge, but there is help for you in your area. Small Business Development Centers (SBDCs) are partnerships primarily between the government and colleges/universities administered by the Small Business Administration and aims at giving educational services for small business owners and aspiring entrepreneurs.

CHBO – Corporate Housing by Owner

Corporate Housing by Owner (CHBO) is an online marketplace that connects private homeowners with individuals and companies in need of short-term furnished rentals. At corporate housing by owner, private owners and companies list and advertise their rentals while companies and individuals in need of corporate housing search from the thousands of listings on our site throughout the world.

CHBO – Handbook

CHBO – Annual Report

CHPA – Corporate Housing Providers Association

The Corporate Housing Providers Association (CHPA) is a professional trade association exclusively dedicated to supporting corporate housing providers around the world.

More than 220 companies worldwide currently belong to CHPA.   Additionally, there are more than 50 member companies around the globe that offer goods or services to the industry as invaluable partners to the industry’s success.

Power Hour – for Corporate Housing Companies

PowerHour® is a thought-leader in executive recruiting servicesinvestment banking servicescorporate housing training,corporate housing webinarssearch engine optimization {SEO}search engine marketing {SEM} and group co-op buying services for our corporate housing clients around the world. Since 1995 PowerHour has been the industry leader, the author of the SmartMatch Alliances book and research analyst of Internet Marketing PowerHour White Papers.

Skill Path Seminars

Our unique brand of training enhances skills, saves time and money and contributes to career and organizational success. Along with our technical training division, CompuMaster, we accomplish all this through:

Seminars, workshops and conferences. From teambuilding and business writing to Microsoft® Office suite applications we bring hundreds of one- and two-day sessions right to your community.

On-site training. We build customized training programs and deliver more than 3,500 courses to 80,000 employees each year–at Fortune 500 corporations, small businesses, government agencies and not-for-profit organizations.

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