When property owners consider hosting their houses to renters, most people immediately think about Airbnb, VRBO, or other widely known property rental companies. However, other rental options on the market differ from short-term vacation rentals and traditional long-term rentals. Corporate rentals are quickly becoming a lucrative investment opportunity for property owners.
Corporate rentals, sometimes called corporate housing, are a specific type of short-term rental that targets people traveling for business purposes. Corporate Housing by Owner is one of the first websites created to market corporate rentals and link those searching for rental units with property owners.
Our Corporate Housing By Owner Review: Is CHBO a Good Alternative to Airbnb?
Although currently less popular than Airbnb, Corporate Housing by Owner is a reputable company that provides a platform for property owners to connect with potential renters searching for high-end corporate housing. Unlike Airbnb, Corporate Housing by Owner is geared towards traveling business professionals who are seeking high-end housing accommodations for periods of a month or more.
How does Corporate Housing by Owner Work?
Corporate Housing by Owner works much like Airbnb or VRBO. Property owners use CHBO.com to list their active, available rental, and travelers use the website to search for a rental in their desired location. CHBO facilitates the rental, so both the host and the renter are protected in their investment.
When a renter logs onto CHBO.com, they simply need to click “Need Housing” to begin their search. Renters can enter search criteria like:
- Destination city
- Length of stay
- Number of required bedrooms
- Arrival and departure dates
- Price range
This allows renters to narrow their search results to find the perfect corporate housing to suit their needs. Once a renter finds a listing they like, they can click into the listing for a more detailed look at the rental.
The property listing will include information like:
- Overview of features
- Available amenities
- Photos of the rental
Travelers can connect with a property owner or manager through the website to determine if the rental is available on their desired dates and discuss additional terms like the length of stay and available amenities. Renters can book the property directly with the property manager and won’t face any fees from CHBO.
Renters will be required to create an account with CHBO to complete a booking through the website. This allows CHBO to screen potential tenants, which protects hosts from potential scams.
How Do I Use CHBO as a Property Owner?
If you own a high-end property and are interested in renting it out as corporate housing, you need to sign up with Corporate Housing by Owner and purchase a marketing plan. To register, property owners can create an account using their Facebook, Twitter, or email addresses. Once registered, a CHBO user can purchase a plan and list their rental property to be viewed by potential guests.
Corporate Housing by Owner Plans and Fees
CHBO has four different yearly plans, three monthly bulk plans, and a fixed monthly plan, so property owners can choose a plan and price point that works for their rental needs. These plans vary in price and available features. Property owners with multiple rentals will benefit from special discounts, like reduced rates for secondary listings.
CHBO guarantees that once a property owner signs up and activates their property listing, the property will be rented within 30 days. If the property is not rented in 30 days, the owner will benefit from six months of CHBO membership free of charge.
If you would like a more detailed look at each CHBO plan, prices, and features, CLICK HERE.
Review of CHBO.com
Corporate Housing by Owner has garnered many reviews from both property owners and renters. These reviews are mixed, and it is clear that there are a wide variety of both good and bad experiences when using this corporate rental website.
After listing one of my properties using Corporate Housing by Owner and securing my first rental guest, here is my review on the service.
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Advantages of CHBO
After reviewing Corporate Housing by Owner, I have found several advantages to using this service. Some pros of CHBO include:
- Access to a safe and secure website
- A large variety of listings
- Excellent customer service
- Rent guarantee
- Tenant screening
- Sample rental agreements
One immediate benefit I saw was that my rental property on Corporate Housing by Owner could generate more income than it could on Airbnb. Corporate housing must be high-end, and the rental duration is typically a month or more. Instead of worrying if my property would book out each week on Airbnb, I had the security of knowing my rental would generate income all month. In addition, I can charge a higher nightly or monthly rate than an average vacation rental owner.
Another benefit was knowing the type of guests that would be staying at my property. Executive apartments often draw high-ranking corporate officials. These renters are typically reliable, have an allocated budget for housing, and travel for business purposes. When I had my property listed on Airbnb, I had to worry about property damage, parties, or kids making messes. With CHBO, I know that the guest is a professional who is traveling for business.
Disadvantages of CHBO
The most significant disadvantage I found when using CHBO is the expensive listing costs. The base-level listing plans only allowed me to post three photos of my property and did not provide extra marketing. To ensure that my property was seen and rented, I had to upgrade my membership to the more expensive listing plan.
Providing high-end, fully furnished apartments with sufficient amenities to meet the needs of corporate clients can be a costly investment. This isn’t a typical Airbnb property with bare minimum essentials, and the guests using CHBO will expect a higher quality living arrangement. If your rental isn’t located in a large, business-oriented city like New York, Washington DC, or Los Angeles, a corporate rental may not turn a profit.
Other disadvantages to using CHBO include:
- No free trial period to see if a plan is right for you
- Extensive sign-up and personal information forms may turn away potential renters
- The CHBO website can be challenging to navigate
Corporate Housing by Owner is a safe, secure site with excellent customer service and is a great alternative to Airbnb for the right rental property. CHBO.com allows property owners to connect with renters who are searching for high-end corporate rentals. Although the listing plans may be expensive, a dedicated host with the right property and marketing techniques will be successful on Corporate Housing by Owner.