CHBO Handbook
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CHBO Handbook Document Transcript

  • 1. User Manual Updated December 18, 2008The CHBO team has assembled this document to support you in renting out your property as a corporate rental. It is intended to help youalign your property with the generally accepted and expected corporate housing industry standards and is not intended as legal advice. 1
  • 2. Additional resources on specific issues are available on www.CorporateHousingbyOwner.com or by contacting a CHBO Property Specialist at1-877-333-2426. 1
  • 3. TABLE OF CONTENTS Initial Contact:.....................................................................................................................................12 Property Tour:......................................................................................................................................12 Documentation/Contracts:...................................................................................................................12 KEYS AND ACCESS:........................................................................................................................12 CLEANING/HOUSEKEEPING:........................................................................................................13 MAIL:..................................................................................................................................................13 MAINTENANCE:...............................................................................................................................13 PLANTS:.............................................................................................................................................13 TRASH:...............................................................................................................................................13 Leasing Laws and Taxes:.....................................................................................................................13 PROPERTY MANUAL:.....................................................................................................................14 Availability Calendar:..........................................................................................................................14 As soon as you have an executed lease on your property take the time to up- date you property’s availability calendar on MYCHBO. An accurate calendar demonstrates to potential renters that you are good at communicating with them and that you continually provide accurate and up-to-date information. Corporate housing tenants dont want to waste their time contacting 10 prop- erty owners only to find all the properties are leased. Time is a valuable com- modity and corporations are more likely to rent directly from private owners if the process is easy and efficient. Also, not updating your calendar may be questioned by the tenant as to why people are not booking your property....14 Credit Card Payments:.........................................................................................................................14 STYLE & Furniture Quality:..............................................................................................................14 BATHROOMS:...................................................................................................................................14 BEDROOMS:......................................................................................................................................15 DINING ROOM/EAT-IN AREA:.......................................................................................................15 FAMILY/LIVING ROOM:.................................................................................................................15 KITCHEN:..........................................................................................................................................15 VALUE ITEMS:..................................................................................................................................15 CABLE/SATELLITE:.........................................................................................................................16 ELECTRONICS:.................................................................................................................................16 INTERNET (HIGH-SPEED):.............................................................................................................16 PHONE:...............................................................................................................................................16 UTILITIES:.........................................................................................................................................16 COLLECTIONS:.................................................................................................................................16 DAMAGE:..........................................................................................................................................16 MISSING ITEMS:..............................................................................................................................17 Photos:.................................................................................................................................................17 KeyWords:...........................................................................................................................................17 CHBO Additional Marketing Features:...............................................................................................17 Additional Advertising/MARKETING:..............................................................................................18 Track your Success:.............................................................................................................................18 1
  • 4. I. INTRO TO CORPORATEHOUSINGBYOWNER.COMCorporateHousingbyOwner.com (CHBO) is the premier Web portal connecting high caliber corporate renters di-rectly with individual property owners offering fully furnished residential rental properties. This guide is packedwith information you’ll need to become a successful corporate housing landlord. From suggested inventory lists tofrequently asked questions, you’ll find answers to your questions and learn more about what it takes to make it inproperty management.CHBO GOALOur goal at CHBO is to be a marketing resource and the premier corporate housing solutions provider connectingproperty owners of fully furnished residential rentals with quality tenants.CHBO provides a unique tenant database of quality corporate travelers that has been developed through years ofdirect business-to-business marketing. When you post your rental listing on CHBO you are not just waiting for thenext tenant to need your property; rather your property is being promoted to corporations and housing providerswho have identified housing needs in your area. CHBO is always working hard for you to help you find qualityrenters.CHBO PHILOSOPHYOur philosophy is to share the knowledge and specific strategies that we have gleaned over our 30 years of expe-rience in the corporate housing industry with our customers so that they can be successful corporate housinglandlords. We help these owners understand how corporate housing works and work hard to prepare them for theresponsibility and commitment that comes with being a corporate housing landlord.There are three key steps to a successful and profitable corporate housing rental experience. We believe thatquality tenants, continued annual occupancy rates and high annual gross rents are achieved consistently by per-fecting these three steps: 1.PROPERTY PREPARATION: This involves how you physically setup your unit (i.e.: furniture, utilities, linens, etc.). 2.PROPERTY MARKETING: This includes the efforts you put forth to get people to notice your property. 3.TENANT RELATIONS: This includes how quickly you are able to connect with a tenant, whether you have all your leasing and property documents ready to go, how well you service your tenants’ needs during their stays, and how well you close your relationship with the tenant during the departure process.WHY CHBO WORKSLearn the secrets of the corporate housing industrySuccess is achieved when a property owner meets or exceeds the expectations of their tenant. Your CHBO teamworks hard to provide you with the information and tools you need to be successful. We have pooled together our30+ years of experience to educate you about the expectations of a corporate housing tenant as well as help youachieve maximum income on your property. CHBO is the only online portal that offers detailed information onhow to be a successful corporate housing landlord, taking the mystery out of the industry and enabling homeown-ers to list, market, manage and profit from their own corporate rental property.Increase your marketing strategy 1
  • 5. CHBO is an active marketing company that works daily with corporations, trade organizations and industries thatconsistently need corporate housing to ensure CHBO listings are getting maximum exposure.Boost your bottom lineCHBO eliminates the need for a costly third party management company, enabling individual property owners toavoid paying steep management fees that eat away at their potential profits.Offer greater flexibility in lease termsCHBO allows individual property owners to set the terms of their corporate rentals. Homeowners can rent theproperty out for daily, six days, six weeks or six months and even keep it listed ‘for sale’ if they want to sell theirproperty.Achieve higher occupancy ratesBecause CHBO allows individual property owners to interact directly with their potential renters, you can adjustyour pricing throughout the year to ensure you obtain higher occupancy rates. 1
  • 6. II. CHBO COMPLETE© CERTIFICATION: HOW IT WORKS?CHBO COMPLETE was created to give thorough and caring owners of distinctive rental properties a way to certi-fy that their properties include everything renters expect to find in a quality furnished rental. When your propertylisting bears the CHBO COMPLETE seal, it communicates value to prospective renters and a guarantee of a qual-ity rental experience. The seal assures renters that the property meets with generally accepted corporate housingindustry standards and is well furnished, fully equipped and comfortable.Properties marked have the follow- ing items includ-ed in their rental rate: ·All furnishings and house wares ·Basic cable TV ·High-speed Internet service ·Utility allowanceWe believe that a CHBO COMPLETE certification is crucial in being a successful corporate housing landlord as itensures your property offers the standard equipment discriminate corporate housing connoisseurs have come toexpect.Value-Add: The CHBO COMPLETE certification also can add significant value to your listing(s) because it veri-fies that your rental includes standard items, including appropriate furnishings, equipment and supplies. Home-owners with the CHBO COMPLETE certification typically get more positive renters’ reviews, command higher feesand attract ongoing renters and referrals.Checks and Balances: Remember, renters may rate and review your property and their experience working withyou. If you have stated in your listing that your property is CHBO COMPLETE and a renter discovers discrepan-cies, you can expect a poor review and/or rating. A poor review may result in fewer renters in the future. On theflipside, if your property meets or exceeds expectations, you will have instantly made your listing more attractiveto the next potential renter. 1
  • 7. III. GETTING STARTED WITH CHBOWe’ve made it easy for you to get ready for your renters with these simple steps:STEP 1 – Read ManualRead the entire CHBO User Manual so you understand what it takes to be a corporate housing landlord.STEP 2 – Adhere to Inventory ListUse the Inventory List in the CHBO User Manual as a checklist to ensure that your rental meets at least the mini-mum number of desirable features and standards expected by corporate renters. Owners are encouraged to giverenters a specific inventory list that can serve as an inspection report at arrival and departure.STEP 3 – Prepare the PropertyUse the PREPARATION GUIDE found in the CHBO User Manual as a tool for making sure that everything isready to meet the renter’s expectations. Remember, if your property is unfurnished you can still market yourproperty as a corporate rental by working with a local furniture rental company to provide options to potential ten-ants. If you’d like to know more about this option, please contact us and we will provide you with additional infor-mation.STEP 4 – Determine Your Rental RateHow you price your property is vital to your annual occupancy and to your financial success. Smart pricing will al-low you to hit the appropriate target market and optimize your income. Here are some strategies to follow whenpricing your property: ·Call traditional corporate housing companies and obtain their rates ·Visit extended stay properties in your area and compare the value received at their rental rate ·Review your local newspaper listings to discover what other property owners are charging ·Check unfurnished/furnished rental rates for comparable condos and apartments ·Ask CHBO about a free property evaluationMany renters who rent on a month-to-month basis will pay a premium for flexibility. Typical corporate housingrenters will expect a lower rate for signing a six month lease or longer. Consider offering a range of rates basedon the length of stay.STEP 5 – Activate CHBO COMPLETE Icon (optional)Once you’ve properly prepared for your renter, return to MYCHBO and turn on the CHBO COMPLETE icon. Thisicon will now appear on your property listing and instantly make your listing more attractive to potential renters. 1
  • 8. IV. INVENTORY LIST All CHBO COMPLETE properties must provide electricity, running water, trash pickup, phone, high-speed Internet service and expanded TV channels. Additionally, CHBO COMPLETE properties MUST include the following items: KITCHEN - SETS:·Sets refer to the quantity of dishes, glasses and silverware that must be provided - sets must match·Complete Kitchen Kits are available and can be purchased through CHBO·Studio Properties = Table Setting for 6·1 Bedroom and 2 Bedroom Properties = Table Setting for 8·Three or more Bedrooms = Table Setting for 10 KITCHEN - GENERAL: 1
  • 9. Blender Icemaker ScissorsBroom/Dust Pan Microwave StoveCoffee Maker Mixer Tea PotDishwasher Mop ToasterFire Extinguisher Oven Trash CanGarbage Disposal RefrigeratorKITCHEN - COOKING:Baking Dish Ice Cream Scoop Spatula-scraperBroiler Pan Knife Set Spoon–slottedCan Opener Ladle Spoon–cookingColander Measuring Spoon set TupperwareCookie Sheet Measuring Cup/Set Utensil HolderCorkscrew (Wine) Mixing Bowls Vegetable PeelerCutting Board Pizza Cutter Water PitcherFork/Tongs Salt & PepperGrater Spatula-flipperKITCHEN – DRINKING:Coffee Mugs Drinking Glass Set Wine GlassesKITCHEN – PLATES:Large Plates Small Plates BowlsKITCHEN – POTS AND PANS:Large Frying Pan Large Sauce Pot Large Pasta PotSmall Frying Pan Small Sauce PotKITCHEN – CUTLERY:Cutlery Tray Spoons Steak KnivesForks KnivesKITCHEN – LINEN:Dish Towel Potholder Napkin SetsDish Cloth Placemat Set
  • 10. BATH - MASTER:·Set refers to the quantity of towels and must be twice the number of occupants. Sets must match.·Master bath must include a shower, toilet and sink Towel Set - Face, hand and bath towels Bath Mat Shower Curtain/Door Toilet Brush Plunger Soap Dish Waste Basket BEDROOM - MASTER: Art Dresser Night Stands Bed Hangers Phone Bedspread Laundry Basket Pillows Blanket Lights Sheets Clock Radio Mattress Pad LIVING ROOM/OTHER: Art Coffee Table DVD Player End Table Lighting Phone Sofa Stereo with CD Player TV (Minimum 25 inches) TV Stand
  • 11. DINNING ROOM:·Set refers to the quantity of chairs and must be a minimum of 4 and reflect the number of occupants -Setmust match. Art OTHER: Chair Set Iron Lights Iron board Table Vacuum Washer/Dryer
  • 12. V. PREPARATION GUIDEA renter’s first impression of your property is most important, so attention to detail is a must! Just like when you rent aroom in a hotel, you have certain expectations and standards you expect to be met. Your property must be a reflectionof your rate – especially if you want to maximize your income. Also, remember that just because you charge less thanmarket rate does not mean the renter will live with mold in the bathroom, worn out carpeting or a dirty kitchen. All ofthese items are vital to meeting your renters’ expectations and developing a strong positive reputation for futurerentals. RULE #1: The property MUST be clean RULE #2: You must utilize the recommendations detailed in this guide in order to achieve high annual occupancy and customer satisfaction RULE #3: You should spend an evening in your property to ensure ev- erything works properlyA. TENANTSINITIAL CONTACT:Potential tenants will contact you based on the specific information in your property profile. Corporate renters expect aresponse from you within 24 hours or less. Business travelers especially need to confirm their housing as quickly aspossible. Any delay from you could result in a missed reservation.PROPERTY TOUR:A lot of corporate housing tenants will rent your property by viewing your property profile and will not need to have anactual tour of the property. Renters leasing the property for longer reservations may want to walk through the propertybefore signing a lease.DOCUMENTATION/CONTRACTS:Prepare the necessary contracts, applications and checklists for your rental property. CHBO offers a number of corpo-rate housing document templates for free in your MYCHBO account page. You will need to obtain legal and state spe-cific documents either through an attorney or a qualified document company.KEYS AND ACCESS:You should make a plan with the renter about when and where you will supply keys and other access cards. The bestmethod is to meet the tenant at the property to do a tour and address specific questions. In some units, you will alsohave to furnish mailbox keys, parking cards and access cards to common rooms and fitness centers. Lock boxes onthe property may be used to deliver keys and access cards to the renter but be sure it is in a safe and well-lit area.Take the time to write down the make, model and code of the garage opener so it is easily replaced if lost. Record theserial numbers of all other access cards so they can be deactivated by the building property management if they arelost or misplaced. Make sure that the tenant knows how to return keys to you and what you charge for lost items.Condominium properties should have inside chain locks installed on the front door. This will allow renters to feel se-cure when they are in the property. Chain locks should NOT be installed on properties with access through both thefront door and the garage because frequently the front door is locked and the renter departs through the garage mak-ing access only possible with a garage door opener.
  • 13. B. PROPERTY MANAGEMENTCLEANING/HOUSEKEEPING:Even if you require that each renter leave the property clean upon departure, the ultimate responsibility for making theproperty ready for the next tenant is yours. You have a number of options to consider: ·Hire a local cleaning company that you can trust, is bonded and insured ·Build maid service into your rental rate ·Supply the tenant with information on local maid service and cleaning companies if they preferKeep in mind that most renters want one rental rate without additional charges. Whatever method you choose, alwaysleave cleaning supplies in the unit for tenants to use during their stay. Mark the supplies with the property address andnote in your property manual that supplies must stay in the unit.MAIL:Renters will have their mail sent to the rental address and will need complete access to the mailbox. You should notask your renters to regulate your mail. Make arrangements prior to your departure to ensure your mail reaches you.MAINTENANCE:Establish maintenance rules in writing and have the tenant sign them to acknowledge that they have read them andagree to comply. Rules should be reasonable and directed at keeping your housing unit in excellent condition. Therules should emphasize the renter’s responsibility to report any issues as soon as they occur. Failure to report a leak-ing water heater or faulty wiring could ultimately be dangerous to the property, the renter and the owner.Overall, the renter has the responsibility to report maintenance issues in a timely manner before they get worse. Theowner has the responsibility to address maintenance problems as soon as possible. Common sense must prevail.Make clear what is considered to be an emergency and what is not. You want to avoid phone calls at 2 am asking youto fix the cable. On the other hand, overflowing toilets, leaking pipes or electrical sparks need to be addressed beforeyour property incurs serious damage. Remember, though, that normal wear and tear will occur on the property.The following are general guidelines for upkeep and will vary from one property to the next: ·Expect to paint every 3-4 years ·Change carpeting or polish hardwood floors every five years ·Plan on carpet cleaning, drapery cleaning and furnace inspection once a year ·Prepare a maintenance checklist for other annual tasks such as replacing batteries in smoke detectors and re- motes, exterior maintenance for lawn, lighting and patios ·Keep a supply of light bulbs in the unit and provide a snow shovel and garage broom as neededPLANTS:Plants can be a visual asset of your property but it is highly unusual to find a renter who will remember to water regu-larly. If your property is a year-long rental, you can hire a commercial watering service or remove the plants. If yourunit only rents for part of the year and you will be occupying it the rest of the time, check with your renter aboutwhether they would be open to watering if you provide reminders.TRASH:Make it as easy as possible for your renter to take out their own trash, especially if it is a complicated process. If yourproperty is in a high-rise complex and the renter has to find a dumpster in the back of the garage and bring a specialkey you may want to consider drawing them a map. There is nothing worse than checking your property when a renterdeparts only to find months of garbage left behind. Renters will generally only do what is easy. Put instructions in yourproperty manual and a reminder sheet next to the phone in the kitchen.LEASING LAWS AND TAXES:Every city and state has different laws and taxes for renting private residences so take the time to contact local real es-tate and city offices to ensure you are in compliance. For example in some cities it is against the law to rent a privateresidence for less than 30 days and some states charge a lodging tax on monthly rentals in addition to nightly stays.
  • 14. PROPERTY MANUAL:We recommend preparing a detailed property manual and leaving it inside your property. This booklet should includethe following information at a minimum: ·Arrival/Departure instructions ·Key and Access instructions ·Emergency numbers for Fire, Police, Hospital, etc. ·Thermostat operations ·Trash instructions ·Manuals for all major appliances and TV/Stereo/Cable ·Building maps in multi-unit locations ·HOA rules and regulations ·Neighborhood information: City map, grocery stores, local amenities, etc. ·Your contact informationAVAILABILITY CALENDAR:As soon as you have an executed lease on your property take the time to update you property’s availability calendaron MYCHBO. An accurate calendar demonstrates to potential renters that you are good at communicating with themand that you continually provide accurate and up-to-date information. Corporate housing tenants dont want to wastetheir time contacting 10 property owners only to find all the properties are leased. Time is a valuable commodity andcorporations are more likely to rent directly from private owners if the process is easy and efficient. Also, not updatingyour calendar may be questioned by the tenant as to why people are not booking your property.CREDIT CARD PAYMENTS:Business travelers expect to be able to pay for their accommodations with their company credit card. In addition, thereare a number of security features that benefit both you and the tenant from fraudulent situations by utilizing creditcards vs. checks for rental payments. Once you are setup with a merchant, go to your property listing and turn on theCredit Card symbol to attract more tenants. There are two companies that individual property owners can setup to ac-cept credit cards: 1.Go online to https://www.paypal.com/us/mrb/pal=RZ429SZRWNQVC or Call 866.445.3167 ext: 33546 – Speak with Amy and mention you are a property owner on CHBO 2.Go online to http://www.process-secure.biz/ecommerchantsolutions.com/merchantapp.asp?referrer=CHBO or call 888-277-3332 to get setup and mention you are a property owner on CHBOC. ROOM SPECIFICSSTYLE & FURNITURE QUALITY:Consistency in style throughout the property is very important. A kitchen with pink floral wallpaper and a living roomwith contemporary black leather sofas would not be a good match. If designing a property from start to finish make thedécor gender neutral. Make the furniture practical for everyday use, the chairs should be comfortable and sturdy. An-tiques are generally not the best because a small fragile chair may break if improperly used or a tenant may not alwaysknow to use a coaster to protect delicate wood surfaces. Stay away from white couches and other colors that mighteasily stain. Also avoid expensive pieces that may not be completely covered by insurance or security deposits if dam-aged. Flip through a current design magazine to get some decorating ideas. A corporate rental should not look like adorm room or your grandmother’s cottage. If your end goal is to rent your property to a corporate executive, take thetime to design a property that is up-to-date in style and comfortable to live in.BATHROOMS:Unsightly bathrooms have lost property owners more leasing deals than any other single feature of a rental. Pay closeattention to detail in this room. Here are some things to consider: ·All caulking must be free of mold, dirt, and discoloration ·Medicine cabinets must be free of rust and stains ·Drawers must be clean and scrubbed ·Inspect the shower head and replace if necessary ·Decorative items should complement one another in style and color ·Replacement light bulbs should be available for light fixtures
  • 15. ·Provide a waste basket, soap dish, plunger and toilet brush in appropriate places ·Cleaning supplies in the room are optional but recommended BEDROOMS: Queen-size beds are the standard for master bedrooms although king-size is recommended. Bed sets must be freshly washed and in good condition. Quilts, dust ruffles, duvets, pillow shams, and accent pillows must match or be tasteful- ly color-coordinated. Inviting décor in the bedroom is an important element in the overall presentation of your property. For overall visual appeal, the bedroom should have a consistency of design including matching headboard, night stands and dresser. Lighting should include nightstand lamps, arc or ceiling lights to illuminate dressers and additional seating. All closets and drawers must be clean and free of debris. All mattresses must be of high quality and each bedroom should have a clock radio. Overall, make sure that anything that is stained, worn or scratched is repaired or replaced before your renter arrives. Please note that mattresses infested with bedbugs cannot be cleaned and must be replaced. DINING ROOM/EAT-IN AREA: All properties must have some way of accommodating in-house dining. Whether it is a formal dining or a kitchen counter with stools, there must be a comfortable place to enjoy a meal alone or with others. Consider arranging a place setting complete along with a move-in gift of food to create a welcoming presentation. FAMILY/LIVING ROOM: Family rooms establish the unique style of your property and should be furnished accordingly with a sofa, coffee/end table, television and proper lighting. What is central to a successful rental is a sense that this can really feel like “home” to prospective renters. The traveler needs to be able to imagine enjoying their evening relaxing in front of a TV, reading a book or phoning home. Spend an evening in your property to experience it from the renter’s perspective. Remember, style, comfort and attention to detail will maximize occupancy rate and your annual rental income. KITCHEN: Our motto in the kitchen is “Less is More.” Having one clean, fresh set of the basics is 100% better than having three sets of old, stained, scraped or marked items. Please refer to the required Inventory List for specific items that need to be included. We recommend purchasing a higher quality set of pots and pans. Non-stick pans will not last and will need to be replaced frequently. Cooking utensil sets are available in presentation containers that can be placed on the counter. Presentation containers add a nice dimension to the kitchen and help avoid messy drawers. Do not buy white cooking utensils as they stain easily and will need to be replaced. A knife set in a butcher block stand is also cost effective and keeps the kitchen well organized. Drawer organizers are a must. Complete Kitchen Kits are avail- able and can be purchased through CHBO. VALUE ITEMS: Value items are additional items that should be used to promote your property but are NOT required by CHBO COM- PLETE. Make sure your property description features as many of these as are applicable to your property. Potential renters can search for properties using keyword searches, so include as many items as possible in your property de- scription.·Additional Parking ·Complex Amenities ·Fax/Printer·High Definition TV ·Crown Molding ·Elevator·Long Distance Phone ·Custom Paint Colors ·Doorman·Movie Channels ·Hair Dryer
  • 16. D. TECHNOLOGY/UTILITIESCABLE/SATELLITE:You are responsible for providing extended basic cable service. Renters will need to have access to news channelsand sports networks (i.e. CNN, MSNBC, ESPN, etc.). You may need to review your monthly bill and charge the renterfor pay-per-view movies or additional services.ELECTRONICS:The property needs to have at least a 25-inch color television, DVD player, cable subscription, and a stereo with CDcapability. In high-end rentals, it is helpful if your entertainment electronics are integrated and complement one anoth-er.INTERNET (HIGH-SPEED):You are responsible for providing high-speed Internet service with a modem/router located in the property. CHBOCOMPLETE properties MUST have high-speed Internet service. Be sure to include detailed login information in yourproperty manual.PHONE:Having a phone in the property is recommended in order to allow the renter to call emergency numbers in case of anemergency. You should discuss with the renter whether you will invoice them for long-distance calls, turn off the long-distance feature with your phone company, or include unlimited local and long-distance rates in your rental price alto-gether. Remember, renters should not be disturbed with your personal phone calls, so avoid using this phone line forpersonal reasons. If you plan on returning to the property at a later date, transfer your existing line to a voicemail boxand establish a new phone number for the renter. Phone companies will charge a set-up fee for a new line. VOIP orVoice over Internet Protocol phones are a good way to cut down on costs and provide complimentary long distance tothe renter.UTILITIES:To qualify as a CHBO COMPLETE property you must provide electricity, water, trash pickup, high-speed Internet ser-vice and expanded TV channels. You may want to provide the tenant an allowance for the utilities in which you add inas part of the total rent. Gather averages for the utilities and give the renter a reasonable allowance. If the renter goesover the reasonable allowance, invoice them the difference. Monitor their usage on a month-to-month basis.E. TROUBLESHOOTINGCOLLECTIONS:In the event the renter is delinquent in their rental payments or there is a dispute over costs, there are practical and le-gal steps that should be followed. All communication with the tenant should be in writing in order to provide documen-tation in the case of a legal dispute. Each state has specific laws on evictions and collections, so take the time to learnabout these before you have an issue. To collect on bad debt you may need to process a legal claim or turn the ac-count over to a collection’s agency.DAMAGE:General “wear and tear” on the property cannot be charged to the tenant, however this is a very broad term and opento interpretation. Your ability to collect on damages starts with clear documentation of the property’s condition beforethe tenant’s arrival and after their departure. When assessing the damage fee, you must be reasonable and take intoaccount the length of the lease. Cities like San Francisco are very specific on these types of charges, so do yourhomework on your specific state laws. Most importantly, before you rent your property make sure you have general in-surance to cover larger damage that may occur. It is required that you take photos of the condition of the property priorto your tenants arrival and of an damages that took place during their stay.
  • 17. MISSING ITEMS:For items like keys and access cards that are frequently misplaced, list the tenant replacement cost in your propertymanual. Smaller items, like a broken drinking glass, are typically considered normal “wear and tear” and you may notwish to charge a tenant for such damage.F. MARKETING YOUR PROPERTY:PHOTOS:Because your listing photos may be the only means a potential renter has of evaluating your rental before committing,it is vitally important that the photographs be of good quality, clear and appealing. Here are some tips to capturinggood photos: 1.Avoid backlighting. Get the camera as close as possible to the item you want to feature (renters like to see de- tail). 2.Use proper lighting. Many people find natural, outdoor lighting photographs best. Indoors or out, thoroughly light the area you wish to feature. 3.Consider hiring a professional. Professional photographers can help you achieve the quality images you desire.For additional information on how to add photos to your listing, please refer to the CHBO website.KEYWORDS:Keywords are an essential element of web marketing. Keywords can include any word in your property listing so takethe time to properly describe your property and the important neighborhood features in your property profile. If yourproperty is located near a business district, hospital or university, make sure the location name is in your property de-scription. Try changing your description on occasion and see if new keywords affect your property statistics.Keywords are important for several reasons: 1.Tenants searching the CHBO website can search using keywords. For example, a visiting professor looking for place to rent can search “FSU” or a football fan can search “Super Bowl” to find a rental near a specific location or event. 2.Keywords in your listing are reviewed by search engines that will list your property for searches made on their sites. These listings are called “Natural Listings” and are an important element in driving traffic to your property.CHBO ADDITIONAL MARKETING FEATURES:“CHBO COMPLETE” Certification: CHBO COMPLETE properties are listings that have been certified by the home-owner to be fully furnished as specified by CorporateHousingbyOwner.com. It also means the rental includes com-plete corporate housing inventory, including cable, high-speed Internet access and included utilities.“EMP” Executive Marketing Program: Property owners can choose to market their property as an EMP property at noadditional cost. This designation alerts corporate housing companies that they are eligible to receive a 10% rental dis-count on that property. This enables corporate housings companies to markup the property’s rental rate for theirclients yet still offer competitively priced corporate rentals.“Power Owner”: This is a free marketing resource available to property owners that list more than one property onCorporateHousingbyOwner.com. Owners can connect all their properties through the Power Owner program, enablingthem to market their other properties to current and former satisfied tenants. This resource is particularly useful for re-peat corporate housing tenants who have continuous corporate housing needs throughout the year and throughoutNorth America and who enjoy working with a specific property owner.Banner Ads: Contact CHBO directly to learn more about advertising your property or company through banner ads onthe CHBO website.Bulk Rates: Bulk rates are available for 5 or more properties. See the CHBO website for details.Highlighted Listing: A highlighted property allows your property to stand out in the crowd of listings from the search re-sults.
  • 18. Sponsored Listing: A sponsored listing will move your property to the top of the search results so it gets noticed first!Home Page Featured Property: The home page featured property listing enables you to maximize your potential visi-bility, traffic and search engine exposure by adding your property to the featured list spotlighted on the front page ofCorporateHousingbyOwner.com.ADDITIONAL ADVERTISING/MARKETING:While CHBO is the best and most comprehensive website connecting you with traveling professionals, you may needor choose to do additional advertising to ensure you get the highest annual occupancy for your property. Some sug-gestions include: 1.Tap into local renters by placing a “For Rent” sign on the property 2.Check with local hospitals, universities and military bases to see if they have a housing resource list that you can add you property to. Always reference your CHBO property ID number in flyers and other locations to give poten- tial renters a quality presentation of you property and complete details. Print out your property profile as a market- ing flyer. 3.Email your property profile to potential tenants as a good way of communicating all your property details. 4.Add a hyperlink from your CHBO property profile to another website you may have created to market your prop- erty or link to a Virtual Tour you created. There is no charge to add a hyperlink and/or Virtual Tour link to your pro- file.TRACK YOUR SUCCESS:Monitor your MYCHBO page and review your property statistics from time to time. See how many views, clicks and di-rect email leads you have received from your listing(s). You may notice trends that are useful to helping you marketyour property in the future.G. ADDITIONAL RESOURCES:There a numerous other resources located on the CHBO website available for your use including: ·FAQs ·Customer Testimonials ·Customer Case Studies ·CHBO Guarantee ·Currency Converter ·Corporate Housing Rates ·Fair Housing ·Security Deposits ·Recommended Sites ·CHBO In the News ·CHBO Blog ·Tenant Reviews ·EMP Program – Executive Marketing Program ·Power Owner Designation ·Property Definitions ###