How Many Years Have You Been a Furnished Landlord?

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How long have you been offering furnished housing as corporate rentals by CHBO? Have you ever been curious about whether you fit the average for those who rent out this kind of housing? The annual CHBO Corporate Housing Real Estate Report looks at this factor, as well as many others when it comes to those who offer corporate rentals for tenants.

The Numbers for 2018

In what probably isn’t the most surprising news out there, most of the individuals who offer furnished housing for rent have been in the position for a single year. A total of 26% of survey respondents fit into this category, but there were another 25% who have been a landlord of corporate rentals by CHBO for somewhere between five and nine years. Another 21% have offered furnished housing for at least 10 years. The rest of the respondents have been landlord for two years (13%), three years (9%, and four years (6%).

Changes from Past Data

One of the most interesting changes when looking at past data is that those who have been in the business for 10 years or more has increased from 9% in 2011 to 21% in 2018. That says a lot about how profitable this is as an investment option. People do not tend to stick around and keep doing something when it isn’t offering them the results they want. Looking over the reports from past years, while the number of landlords in business for 10 years has fluctuated with ups and down, 2018 has had the highest number so far.

Number of Rental Properties

Something else that might be interesting here is understanding how many properties the average housing owner has. For 2018, 42% of people have a single unit, while another 42% have two to five units. Those with six to 10 units were 10% of the respondents, with 4% having 10 to 20 units, 1% with 20 to 50, and 2% who owned more than fifty units.

It just goes to show that there is a place for anyone in this space, whether you want a bit of income from a single home or tons of money from dozens of them. Consider what works best for your needs and remember that there wouldn’t be so many long-term landlords if this wasn’t a profitable venture!

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