Skip to content

Posts from the ‘In the News’ Category

4
Sep

WE HAVE NEVER BEEN BORING!

AvenueWest has been managing high quality private residences for investors since 1999. Today, AvenueWest Managed Corporate Housing services are in 15 cities, in both the United States and Canada and we are adding more offices every month. #corporatehousing #realestateinvestment #rentals #lodging #realestate #avenuewest #skift



This year marks the 20th anniversary of AvenueWest Corporate Housing, Inc., an award winning Colorado based business that has shown staying power by finding real estate and lodging solutions for customers in the economic ups and downs of the last 20 years.  Founded on the principles of service, quality and choice, AvenueWest Global Franchise now has 15 local real estate franchise brokerages and just launched AvenueWest Canada to further its North American expansion.

In a world before AirBnB, AvenueWest saw the business potential for residential rentals, and today is the leader in the furnished residential monthly leasing and real estate business development. AvenueWest Corporate Housing started as a small real estate management company but quickly grew to the largest provider of corporate housing rentals in Colorado.  Driven by the development of new ideas, meaningful innovation and vision for corporate growth, in 2010 AvenueWest Global Franchise, LLC was launched, enabling the national expansion of the AvenueWest Managed Corporate Housing business model.  In 2018, AvenueWest Global Franchise, LLC,was named a Colorado Company to Watch, acknowledging the drive, excellence and influence of AvenueWestas a growing company in the state. Colorado Companies to Watch honors second stage companies that develop valuable products and services, create quality jobs, enrich communities, and create new industries throughout Colorado.

A recognized leader in the industry, AvenueWest was awarded the Corporate Housing Providers Association’s (CHPA) prestigious Provider Company of the Year Award, in 2019 AvenueWest was short-listed for the international Serviced Apartment Provider of the Year Award, in 2018 Think Realty Magazine awarded them the Industry Influencer award and they have been listed for 3 consecutive years on Inc Magazine’s Inc 5000 list featuring the country’s fastest growing businesses. AvenueWest’s CEO, Angela Healy, states that there are two secrets to the company’s success. First, we work hard to run AvenueWest as a team and develop a place where our employees enjoy coming to work, take pride in what they do and create lasting solutions for the tasks at hand. Secondly, Healy adds, that we believe in doing business the old-fashioned way, person-to-person with high standards for customer service. “We are able to offer relocated or traveling professionals more than just a temporary place to call home; we also help them get to know and love their new city like we do. So many of our customers come back to us time and time again because they know they can depend on us for reliable information about the city they are relocating to.”

Mrs Healy stated, “The AvenueWest Managed Corporate Housing business model works and there is proven national demand for the unique rental properties only offered through AvenueWest, but the real estate property management business model requires state specific real estate licenses to operate in each state.  With a strong focus on quality and consistency, the AvenueWest business model began the evolution to a franchise model that developed locally owned and operated real estate brokerage offering managed corporate housing as a business lodging solution.  Creating a franchise business varied significantly from the development of a real estate brokerage offering furnished monthly rentals.  The new model had to develop training and systems that could expand and replicate what had been primarily done just through the development of key employees.  Today there are 15 locally owned AvenueWest franchises located in 7 states.  Current AvenueWest offices are located in  Atlanta, GA – Boulder,CO – Colorado Springs, CO – Dallas, TX – Denver, CO – Denver South / DTC – Fort Collins, CO – Phoenix, AZ – Las Vegas, NV – Sacramento, CA – San Francisco, CA – Scottsdale, AZ – St Louis, MO – Tucson, AZ & Toronto, Ontario Canada.  Today, AvenueWest still has the same mission statement it started with in 1999.  “We can best serve our tenants and property owners by always improving the quality of everything we do as a team.  We are committed to the process of becoming a continuously self-improving organization.”The  AvenueWest  franchise business model is different than the standard McDonalds as we work together on innovation.  Part of the value of our franchise program is that innovation not only comes from the top down but also from the bottom up.  We believe, and have demonstrated, the value of working with each franchise to best understand the innovations they make everyday and the Global Team works hard to disseminate these ideas as best practices for the benefit of all offices.  Together we achieve more, together we grow more, and together we innovate more.  

26
Feb

Congrats – AvenueWest

Congrats – AvenueWest Managed Corporate Housing for making the 2019 BEST OPERATOR short list 🙂

Learn More

The Serviced Apartment Awards are the only awards created for and by the serviced apartment, aparthotel, extended stay and short term rental industry. The awards recognise excellence at individual, team and corporate level.

Best operator 201+ units

Who should enter: Any serviced apartment, aparthotel or extended stay operator with more than 201 units under management.

1. Evidence of delivery a best-in-class guest experience

2. Demonstrating innovation in product, amenities and customer service

3. Demonstrate best use of brand to drive occupancy/rate

4. Evidence of staff and customer engagement, CSR and environmental policies

5. Effective sales, marketing & distribution


16
Feb

5 Rental Predictions for 2017

In a recent Zillow article by Amie Fisher “5 Rental Market Predictions: What to Expect in 2017 (and Beyond),” Zillow’s Senior Economist, Dr. Skylar Olsen, predicts 5 rental trends for 2017:

  1. Overall Rental rate appreciation will stabilize this year. While the overall United States rental rate appreciation is staying around 1.5%, many West Coast metropolitan cities (Seattle, Portland, San Francisco and surrounding Bay Area, San Diego and Denver) won’t see their rental rate appreciation yet below 5%. Overall, there is more rental inventory available which is a large contributing factor to rental rates slowing down.

According to Apartment List, Inc. and their February 2017 rent report, rents increased slightly this month nationwide after four months of rental rate decreases. In 2016, the rental rate was significantly lower and did level off from the dramatic increases in 2014 and 2015.

us-rent-growth-2014-2016

2. Homeownership Rate will increase slowly as Millennial’s get older.  Many people have shifted to renting instead of buying since 2006. But, as Millennial’s get older and make more money, they feel that buying a home is an integral part of their personal freedom. Don’t worry, this shift is going to be gradual and over time so rental vacancies should not be affected yet.

3. Many renters are now being pushed to the suburbs. The Baby Boomers are looking to downsize from their larger homes, perhaps in the suburbs, and move to smaller homes in more walk-able neighborhoods. As a result, there is less inventory available in the urban areas and higher rental rates since there is not enough supply to meet the demand. More people are now looking to surrounding cities and suburbs to find lower rents and more options. Because of this shift, some of the fastest growing rental rates in the nation are in smaller cities and suburbs outside of the Nation’s most expensive metropolises.

rental-rates-increasing-in-secondary-cities

4. New home costs will increase due to rising construction costs. Most new home builders are moving their focus on high-end homes since the cost of construction and land is on the rise. This means that more people will still be forced to rent since the average person will not be able to afford the new home prices currently being offered.

Print

Source: The Zillow Group Report

5. Interests rates will increase. Over the past couple of months, interests rates have already begun to increase due to the change in administration. If they continue to rise over the course of this year, individuals and families who might have been considering buying will instead remain in rentals until the rates go back down.

Overall, the cost of rent has started to mellow out a bit but there are still some major factors that are playing into the current rental market nationwide and why we most likely won’t be seeing any major decreases anytime soon.

Luckily, the majority of all AvenueWest Managed Corporate Housing‘s rental properties aren’t affected by the major rental rate hikes impacting apartment communities since our properties are privately owned.  Rent like a local in one of our beautifully furnished or unfurnished properties. Call us today 1-800-928-1592.

Here are the nation’s 100 largest markets and their median rental rates and percent changes from Apartment Source, Inc.:

City Median 1BD Median 2BD M/M Price Change Y/Y Price Change
San Francisco, CA $3,420 $4,610 0.6% -1.5%
New York, NY $3,220 $4,110 -0.1% 1.0%
Boston, MA $2,790 $3,200 0.7% 0.4%
Washington, DC $2,140 $3,040 -0.3% 0.1%
Jersey City, NJ $2,540 $2,900 1.2% 2.1%
Los Angeles, CA $1,870 $2,600 -0.1% 0.5%
San Jose, CA $2,110 $2,600 0.3% -1.4%
Stamford, CT $1,920 $2,400 0.3% -0.6%
Miami, FL $1,850 $2,330 -0.9% -2.8%
Seattle, WA $1,650 $2,200 1.1% 5.3%
San Diego, CA $1,530 $2,000 0.1% 1.9%
Long Beach, CA $1,390 $2,000 0.8% 6.1%
Santa Ana, CA $1,550 $1,870 0.8% -1.5%
Denver, CO $1,350 $1,740 0.5% 1.1%
Anaheim, CA $1,400 $1,740 -0.6% 1.4%
Fort Lauderdale, FL $1,300 $1,700 -0.3% 2.2%
Atlanta, GA $1,370 $1,650 0.2% 2.6%
Dallas, TX $1,240 $1,650 -0.2% 2.3%
Minneapolis, MN $1,360 $1,600 -0.5% 1.9%
New Orleans, LA $1,400 $1,600 0.0% 1.0%
Chicago, IL $1,480 $1,600 -0.1% 1.1%
Portland, OR $1,380 $1,560 0.4% 0.3%
Philadelphia, PA $1,300 $1,550 0.2% -1.5%
Austin, TX $1,150 $1,450 0.1% 0.4%
Baltimore, MD $1,330 $1,400 -0.1% 1.0%
Houston, TX $1,100 $1,400 -0.1% -3.3%
Riverside, CA $1,000 $1,370 0.4% 2.2%
Aurora, CO $1,030 $1,350 0.3% 1.9%
Nashville, TN $1,340 $1,340 -0.1% 3.0%
Pittsburgh, PA $1,100 $1,340 -0.1% 2.6%
St. Petersburg, FL $890 $1,300 0.7% 2.4%
Manchester, NH $1,110 $1,290 1.1% 4.1%
Madison, WI $890 $1,220 0.1% -0.5%
St. Paul, MN $950 $1,200 0.6% 3.0%
Sacramento, CA $990 $1,200 0.0% 2.4%
Tampa, FL $1,000 $1,200 0.4% 2.2%
Charlotte, NC $1,060 $1,200 -0.5% 2.5%
Orlando, FL $1,040 $1,200 -0.2% 2.4%
Tacoma, WA $1,000 $1,200 0.1% 7.7%
Anchorage, AK $930 $1,180 0.6% -5.1%
Fort Worth, TX $950 $1,170 0.3% 2.8%
Virginia Beach, VA $900 $1,150 0.1% 3.2%
Vancouver, WA $960 $1,130 0.5% 4.9%
Richmond, VA $950 $1,100 -0.5% 1.1%
Durham, NC $910 $1,060 0.1% 1.5%
Milwaukee, WI $1,120 $1,050 -0.3% 1.8%
Corpus Christi, TX $830 $1,020 -0.2% -0.3%
San Antonio, TX $850 $1,010 -0.2% 0.3%
Raleigh, NC $930 $1,010 -0.3% 1.7%
Stockton, CA $780 $1,010 -0.4% 5.7%
St. Louis, MO $830 $1,000 0.8% 0.5%
Phoenix, AZ $840 $1,000 0.3% 5.2%
Colorado Springs, CO $810 $1,000 -0.3% 4.9%
Baton Rouge, LA $990 $1,000 0.4% 2.6%
Salt Lake City, UT $790 $990 -0.2% 1.5%
Arlington, TX $770 $990 0.2% 7.0%
Rochester, NY $830 $990 -0.3% -0.8%
Las Vegas, NV $830 $980 0.1% 4.7%
Jacksonville, FL $820 $980 0.1% 2.0%
San Bernardino, CA $750 $950 0.1% 0.5%
Reno, NV $700 $950 -1.0% 6.3%
Birmingham, AL $890 $950 -0.4% 4.1%
Grand Rapids, MI $810 $940 -0.1% 1.5%
Omaha, NE $750 $910 0.0% 0.2%
Providence, RI $840 $900 -1.1% 2.9%
Mesa, AZ $720 $900 0.0% 3.7%
Columbus, OH $750 $900 0.4% 3.0%
Boise, ID $750 $880 0.5% 4.5%
Norfolk, VA $730 $880 0.1% 2.2%
Lincoln, NE $680 $870 -0.2% 2.5%
Fresno, CA $750 $850 0.2% 2.6%
Kansas City, MO $780 $850 -0.6% -0.9%
Des Moines, IA $880 $840 0.1% -2.5%
Bakersfield, CA $700 $830 -0.2% -1.3%
Cincinnati, OH $700 $800 0.7% 4.4%
Albuquerque, NM $630 $800 0.4% 2.4%
Louisville, KY $680 $800 0.8% 6.3%
El Paso, TX $620 $800 0.1% 0.6%
Little Rock, AR $690 $800 0.6% 3.8%
Indianapolis, IN $710 $800 0.1% 1.0%
Lexington, KY $640 $800 -0.8% 2.2%
Spokane, WA $630 $800 -1.4% 4.8%
Knoxville, TN $760 $780 -0.3% 3.8%
Cleveland, OH $650 $780 0.0% 1.3%
Oklahoma City, OK $650 $780 -0.2% 2.2%
Greensboro, NC $640 $780 -0.3% 0.5%
Tallahassee, FL $660 $750 0.7% 0.9%
Tucson, AZ $550 $750 0.2% 1.3%
Tulsa, OK $570 $750 -0.2% -1.1%
Winston-Salem, NC $710 $740 -0.7% 3.8%
Mobile, AL $660 $730 -0.3% 4.3%
Memphis, TN $730 $730 0.3% 2.5%
Fayetteville, NC $580 $700 0.0% 0.9%
Toledo, OH $500 $700 0.1% 7.5%
Montgomery, AL $640 $700 0.1% 1.6%
Detroit, MI $600 $680 0.2% 2.8%
Columbus, GA $620 $680 0.1% -0.1%
Wichita, KS $510 $630 0.2% 1.9%
Fort Wayne, IN $490 $600 -0.9% 0.7%
Huntsville, AL $480 $550 -0.3% -0.2%
3
Jan

Millennial Mobility

Millennials are a hot topic right now and have been for the past couple of years with the changing landscape revolving around Millennials in the workforce, talent management, and mobility.

In the November/December 2016 addition of Workforce Magazine, in the article titled “Mobility Needs a Makeover,” Millennials are recognized as great candidates for global assignments since their relocation packages typically cost less than the “older, more encumbered peers.” According to George Bates, the Senior Vice President of Global Marketing and Sales for Graebel:

…Today’s businesses have a lot of reasons for relocating employees, and many of them have figured out that younger staff don’t need the same level of support…Younger employees are more open to the adventure that comes with an oversees assignment, and are often willing to voluntarily go with few if any additional perks. ‘They are young and hungry and eager to learn about a new culture.’ Inviting young, highly skilled employees to voluntarily relocate for a challenging work assignment has been a growing trend…for the past few years…It’s one of the many strategies mobility experts are using to cut the cost and complexity of relocation assignments, while adding value for employees. ‘There is a pervasive assumption among this generation that if they want a strong career, they need this kind of experience.’

According to a study compiled by Brookfield Global Relocation Services, 11% of the employees taking relo assignments are ages 20-29 and when mobility and talent management are combined, the number increases to 22%. Companies are really focusing on getting younger employees into their global leadership roles.

The relocation industry is shifting because of this growing trend of sending younger employees on assignments. More relocation packages are being offered now based on the needs of the company and the value of the employee. Younger employees are also typically easier to relocate since they don’t usually have kids and families to relocate, and since most Millennials rent instead of own, no property managers to find.  Millennials are craving these experiences and in exchange, aren’t necessarily looking for higher salaries and benefits to accompany their relocations.

Temporary housing is a large portion of relocation services. According to the 2014 Gen-Y Housing Survey conducted by the Urban Land Institute and UDR, there were some very interesting findings regarding what Millennials are looking for in their accommodations:

gen-y-housing-survey-summary-1

gen-y-housing-survey-summary-2

gen-y-housing-survey-current-location

gen-y-housing-survey-rental-structure-types

 

gen-y-housing-survey-time-spent-in-rentals

 

gen-y-housing-survey-benefits-of-renting

 

gen-y-housing-survey-features

gen-y-housing-survey-future-community-benefits

These figures represent what Millennial respondents chose in regards to housing. It is from the 2014 Gen Y and Housing Survey compiled by the Urban Land Institute and UDR.

So which cities are millennials relocating to here in the United States?

 

  1. Atlanta, GA
  2. Pittsburg, PA
  3. Memphis, TN
  4. Boston, MA
  5. Austin, TX
  6. San Diego, CA
  7. Seattle, WA
  8. Houston, TX
  9. Denver, CO
  10. Charlotte, NC

Good news, we have full-service, local offices in 4 out of these 10 cities and can assist our millennials with short-term, fully furnished temporary housing while they get settled into their new city. All of our properties include the features that are important to the Millennial respondents and even more!

For all of your relocation needs, your local AvenueWest Managed Corporate Housing office is at your service, providing exclusive residential properties including single-family homes, town homes, condos, and apartments.  All offices are licensed real estate brokerages and can help you find your perfect home once you are settled. Most of our offices can also help with unfurnished rentals as well.

We are local and know the cities and neighborhoods our properties are located. Plus, we have properties not just in major cities, but in the surrounding suburbs as well.

Submit a housing request, Search for a Real Property in our actual database, or give us a call today 1-800-928-1592 and a local representative will be able to answer all of your questions. You can also Message us on Facebook or Tweet us on Twitter

 

 

17
Nov

Corporate Housing is Not Part of the Shared Economy and CHBO has the Data to Prove it – CHBO Launches 7th Annual CHBO Corporate Housing Real Estate Survey

As smart investors look to diversify their real estate and investment portfolios more property owners are turning to monthly corporate housing rentals as the best way to adhere to real estate rental laws, minimize time needed to manage a property and maximizing rental income opportunities.

DENVER, Nov. 15th, 2015 – Corporate Housing rentals have been an essential lodging solution for more than half a century and should not be inadvertently lumped into the new trends and restrictions of today’s “shared economy” and CHBO has the data to prove it. For the 7th year CHBO is launching the CHBO Corporate Housing Real Estate Survey to document the trends, standards and needs for this monthly furnished lodging solution.

Successful corporate housing property owners and managers have found that investment and management trends reported in the CHBO Corporate Housing Real Estate Report are essential tools for their financial success. Did you know that 2 out of 3 corporate housing landlords say their tenants stayed on average 3 months or longer? CHBO also found that last year 17% of the properties were rented for a year or longer.

The 7th annual CHBO Corporate Housing Real Estate Survey will provide insights into:

  • Pricing trends for monthly, furnished corporate housing
  • Average security deposit fees charged by corporate housing landlords
  • Required length of stays in the monthly corporate housing rental marketplace
  • Pet policies for furnished housing
  • Predictions and corporate housing landlords sentiments about the future

The survey is broken into 8 main sections: Property Owners – Who, What, Where, Why and When; Outlook and Profitability; Rental Rates; Property Management Trends; Rental Properties; Tenants; Pets and Marketing Trends.

Independent property owners and managers of corporate housing rentals are invited to complete the survey online. Data is being collected through December 15, 2015 and findings will be reported on January 15th, 2016.  The 2015 CHBO Corporate Housing Real Estate Report is offered FREE to all survey participants.

“CHBO Members continue to ask for more facts and figures to make them the most profitable corporate housing providers. The CHBO Team continues to hear from our members about how much this information allows them to make the right choices when it comes to investing in, marketing and managing their corporate housing rentals,” says Kimberly Smith, co-founder and CEO of CHBO.

Real estate investing is back and the trends are showing more real estate growth potential. As smart investors look to diversify their real estate and investment portfolios more property owners are turning to monthly corporate housing rentals as the best way to adhere to real estate rental laws, minimize time needed to manage a property and maximizing rental income opportunities.

The results of this survey will be used to develop the 2015 CHBO Corporate Housing Real Estate Report, which will provide corporate housing landlords, real estate professionals, real estate investors and property managers needed data, emerging trends and insights about everything from how to better promote rental properties, to how to improve the way they furnish and market their rental properties. Historically, responses were received from property owners across the United States and around the world.

About CorporateHousingbyOwner.com (CHBO) 
CorporateHousingbyOwner.com is the number one marketplace for furnished corporate housing rentals. CHBO was founded in 2006 out of a need to connect private homeowners and real estate investors offering furnished, short-term rentals with corporate housing seekers such as traveling executives, relocated professionals, traveling nurses, actors, athletes and more. Today CHBO servers the larger Corporate Housing – Extended Stay Lodging market. CHBO also offers individual homeowners and investors tools to manage a corporate housing property themselves as well as help them market their property to a mass audience turning to corporate housing to fulfill their housing needs. Please visit www.CorporateHousingbyOwner.com for more information.

 

%d bloggers like this: