Furnished housing landlords say they are optimistic about their future profitability, reports the third annual By Owner Corporate Housing survey sponsored by CorporateHousingbyOwner.com (CHBO), an online marketplace dedicated to connecting individual property owners offering short-term furnished and unfurnished rentals with potential tenants worldwide. The purpose of the survey is to provide key insights into the do-it-yourself — or “by owner” — corporate housing marketplace.
The survey found that nearly 40% of corporate rental landlords say they believe 2012 will be a “more profitable year.” Plus, despite continued news about the declining housing market and global recession, still more than 50% of the survey respondents say they made a profit on their rental properties in 2011 while 35% say they only broke even.
Additionally, the survey reports that do-it-yourself (DIY) property management is on the rise. In fact, more than 86% of the survey respondents say they do their own property management rather than using outside resources, a slight increase from last year.
Kimberly Smith, the founder of CorporateHousingbyOwner.com, says DIY landlording is nothing new, but obviously an increasingly popular option these days.
“The prolonged recession compounded by unlimited access to resources online has exploded the do-it-yourself landlording world,” says Smith. “My hope is that this report will continue to help ‘by owner’ corporate housing landlords become more educated, knowledgeable and profitable as it allows them to deep-dive into emerging rental trends and how such trends will impact them personally.”