Kimberly Smith, co-founder of CorporateHousingByOwner.com says she is seeing a large exodus from popular DIY vacation rental sites to her site, CHBO, which enables individual property owners to showcase their furnished properties available for rent.
DENVER – Continued short-term housing scrutiny and regulation, along with abuses on popular vacation rental sites have lead many property owners to flock to corporate housing, says Kimberly Smith, co-founder of CorporateHousingByOwner.com (CHBO). Smith says she is seeing a large exodus from popular DIY vacation rental sites to her site, CHBO, which enables individual property owners to showcase their furnished properties available for rent.
CHBO user Emily (not her real name) agreed to share her story with CHBO under anonymity. She told CHBO she was not willing to rent her furnished La Jolla, California home to a complete stranger without having the ability to do her homework on the potential tenant first.
“I posted my property on Airbnb before I realized how little control over the communications with renters I would have. I wasn’t able to talk to potential renters directly, nor check out the people whom I’d be renting to. The last thing I wanted was some stranger living in my property and having no idea who he or she was,” says Emily.
Soon after, Emily says she found solace in CHBO’s completely transparent process.
“I’m looking for renters who are professional and will care for my property as their own home. CHBO allows me to check out someone before signing a rental agreement – it’s completely transparent. I’ve been able to successfully find a string of great renters via my CHBO listing,” she says.
Smith says she understands Emily’s dilemma after seeing people burned by vacation rental sites time and time again.
“No one wants bad renters to come into their properties just to throw parties and disrupt the neighborhood – this is exactly what is giving short-term rentals a bad name,” says Smith. “CHBO gives landlords hands-on control over tenant selection because we know renting out a furnished home is about more than just a monetary transaction; rather, we know it’s about helping our customers feel comfortable with the process and the quality of their future tenants,” says Smith.
While Emily says short-term rental regulations influenced her decision to offer her home as corporate housing – where 30-day minimum stays are the norm – she says the biggest influence was her desire to be a good neighbor.
“I don’t want to cause problems for my neighbors. The neighborhood is important to me, and I care,” she says.
“As communities try to regulate the out-of-control Airbnb phenomenon, we’re seeing rules and local ordinances rapidly changing. Plus, many private vacation rental owners are fed up with having renters in and out each week. The pain-per-dollar earned isn’t worth the time and effort spent, and in many cases, it isn’t legal either,” says Smith. “I created CHBO as a place where private owners can advertise their corporate rentals directly to high-quality clientele, such as traveling business professionals. All of these factors translate into a higher income earning potential for CHBO users without the added effort and burdens that come with traditional ‘vacation rentals.'”
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