New Owners Grow AvenueWest Denver Managed Corporate Housing Franchise; Growth on New Franchisees’ Minds
Since 2001, Angela Healy worked for AvenueWest Corporate Housing in Denver – helping founders, Kimberly and Eric Smith, manage their financials and run the day-to-day operations. Angela was pivotal in helping AvenueWest grow and find success over the years – including early on in the business when the company took a financial hit in the failing economy. Over the years, Angela helped the Smiths create the AvenueWest Managed Corporate Housing Franchise model and even assisted with the on-boarding of the franchisee team in Colorado Springs.
Along the way, Angela learned that Kimberly and Eric’s long-term plans were to eventually franchise the Denver market.
“When I told Tim [my husband] that AvenueWest Denver was available for purchase as a franchise, he said, ‘Have you ever thought of us buying Denver?’ I’d been working in the business for so long that it made sense that I would be the perfect successor,” says Angela. “The best part was that my husband had always wanted to own a business – so it was truly the right fit for us to do together.”
Kimberly says that Angela was a natural fit to take over the business given her experience and deep corporate housing knowledge.
“Between her strong corporate housing background experience and Tim’s impressive business acumen and entrepreneurial desires, Eric and I knew they were the right team to take over the Denver market,” says Kimberly.
AvenueWest Denver Changes Hands
In 2010, the Healys officially purchased the AvenueWest Denver franchise, thus beginning their journey as corporate housing entrepreneurs.
After taking over AvenueWest Denver, the Healys became iron-focused on their mission: To match those seeking corporate housing in Denver with those offering furnished, short-term rental properties.
“We are lucky to live in Denver as we get to cater to a variety of people in need of corporate housing, from business professionals and traveling consultants to relocating employees, traveling healthcare professionals, on-assignment military personnel, traveling theater companies and more,” says Tim.
The State of Denver’s Corporate Housing Market
Angela and Tim add that Denver is traditionally a high-demand market for corporate housing, and they don’t see that changing anytime soon.
“While we are currently seeing a lot of clients sell their properties because it’s a hot seller’s market, at the same time we are adding new clients who are looking for a competitive advantage when it comes to managing and marketing their unique furnished properties available for rent,” says Angela.
One of the ways Angela and Tim say they maintain steady inventory throughout market fluctuations is by offering great customer service, competitive pricing, unique properties, and win-win partnerships with those who own properties in desirable locations.
“We manage about 30 properties in The Spire (891 14th St. Denver), an upscale condo community in downtown Denver that offers panoramic views of the city and resort-style amenities. We are able to offer these properties to discerning individuals and groups who want to experience Denver’s culture and vibrant downtown scene while traveling to the Mile High City,” says Tim.
Steep Learning Curve
While Tim had little corporate housing experience when he took over AvenueWest Denver in 2011, he says he has since undergone a steep learning curve.
“At first corporate housing was like speaking a foreign language,” he says, “But today it feels like a natural progression in my career and offers me the flexibility I desire to balance my family-life with my professional-life.”
Above all, Tim says that having AvenueWest as the backdrop of their franchise gives them the name recognition and instant trust in the industry.
“Partnering with an award-winning, well-respected name in corporate housing not only brings us high quality referrals, but also helps us solidify relationships with new prospects who have come to know and trust the AvenueWest brand for more than a decade,” says Tim.
There are so many magical holiday events around the Denver metro area perfect to celebrate the season and even bring in the new year! Here are a few fun events filled with holiday cheer to partake in this year:
Take the kiddos over to the Colorado Railroad Museum downtown this Saturday, December 21st for a train ride with Santa free with the price of admission. They will also be able to tell Santa what they want for Christmas this year.
- Head on over to Cherry Creek Mall to have your kids, pets, or yourself photoed with Santa. Sign Language Santa is also available for the hearing-impaired.
- Want to see some amazing holiday lights this year? Head on downtown where you can walk (or ride the free mall ride) up and down the 16th street mall which has been lit up by thousands of twinkling lights. The City and County building is also decorated to the hilt and plays carols as well after 6pm every night. The annual LoDo Aglow contest is in full force through 12/31, view holiday themed window art in lower downtown Denver.
The Denver Botanical Gardens in both locations (York Street and Chatfield) are abloom with bright lights to walk underneath and around. Warm beverages are available to make the chilly nights more bearable while looking at the beautiful lights. The Denver Zoo is also a great spot to walk around and look at thousands of lights. They also have warm beverages for purchase. The Butterfly Pavilion has their annual Living Lights celebration going on this upcoming weekend, December 20-22, December 27-29, and January 3-5 where you can experience the wonders of the butterflys and other insects while wandering beneath holiday lights both inside and outside.
- Also while downtown, you can enjoy FREE ice skating on an outdoor ice rink at Skyline Park. Bring your own skates, or you can rent a pair for only $2. What a deal!
This Saturday is also the last day to enjoy the Denver Christkindl Market located in downtown Denver along the 16th street mall and Skyline park. Experience the holidays with a German flair and find your loved ones unique, hand-crafted gifts.
- There are lots of holiday themed dances, theater performances, and concerts this year as well. Some of the featured shows taking place at the Denver Performing Arts Complex are: The Nutcracker Ballet, A Christmas Carol, The SantaLand Diaries, Cirque Dreams Holidaze, Colorado Christmas performed by the Colorado Symphony, and enjoy this year’s TubaChristmas this Saturday, December 21st at Skyline Park downtown.
There are so many free and inexpensive things to do around the Denver metro area this Holiday season for everyone! We hope that your Holidays are bright and filled with joy! 🙂
Denver, CO is home to the majestic Rocky Mountains and an urban metropolis that has tons of fun, social, and inexpensive activities to do all year long but the summertime events can’t be beat! Here is a list of more fun-filled, FREE events you can be a part of this month:
- Festival For Water: this FREE festival features live music, food trucks, and beverages in Civic Park on June 9th. The event is to spread awareness of the importance of water in the US and around the world.
- Denver Pridefest: come celebrate the local gay and lesbian community of Denver with this FREE weekend long event featuring a parade, food, live music, and dance at Civic Center Park June 15-17.
Cherry Blossom Festival: a celebration of Japanese-American culture, food, music and dance June 22-23 – FREE admission.
- FREE Admission to the Denver Botanic Gardens at Chatfield – Friday, June 7th
- FREE Admission to the Denver Museum of Nature and Science – Monday, June 17th
- FREE Admission to the Clyfford Still Museum – Friday, June 7th
- National Center for Atmospheric Research – come learn more about global climate change in Boulder, CO at this FREE museum.
- Red Rocks Amphitheater – Red Rocks is a must see when you come to Denver. There is a FREE Hall of Fame museum at the visitor center as well as tons of hiking trails all around the area.
Littleton Historical Museum – see how the pioneers lived at this FREE, interactive museum in the heart of Littleton. There is an indoor museum as well as two different period homes; farms, a schoolhouse, animals and more! This is the perfect place to bring the whole family.
- Coors Brewery Tour – learn how Coors brews the “taste of the rockies” on this FREE tour with 3 FREE beers at the end! You must be 21 or older to drink; kids are welcome as long as there is an adult with them.
- Celestial Seasonings’ Tour – FREE tours are offered daily M-Sat 10am-4pm; Sun 11am-3pm – on the weekends the machinery isn’t running so go on a weekday if possible. Fun for the whole family and you will be able to sample tea before your tour too.
That wraps up the FREE events in June and other events that are FREE and available all summer long! Stay tuned next month for more FREE fun-filled events to do in the Denver Metro area. 🙂
Come on down to Denver where the sun is hotter and the air is thinner. Denverites enjoy spending the summer months outside, usually doing something active but the activities listed below include a wide variety of interests. We will be featuring different events every week since there are so many great things happening this summer in Denver!
Every Thursday, the Denver Museum of Nature and Science opens their doors for person’s 21 and up to enjoy cocktails while learning about a new topic each time. Tickets are $12 for non-members and $10 for members.
- FREE: First Friday Art Walk. These happen the First Friday of every month – June 7, July 5, August 2, and September 6. Experience artwork from galleries along the Sante Fe Art District (Along Sante Fe between 8th Avenue-12th Avenue). Most galleries offer drinks for free but do appreciate donations.
- Like movies? Well, there are a ton of great venues hosting outdoor movies this summer: Film on the Rocks,
Red Rocks Amphitheatre, Morrison, CO. Enjoy a hit movie while basking in the beautiful surroundings. Tickets are $12 in advance and $13 at the door. Before the movie, you will also enjoy either a comedian or band before the movie starts and audience contests; Southwest Movies at Skyline Park, Skyline Park, Downtown Denver, this event is FREE and is open to kids and pets; Larimer Square Summer Film Series, open to the public with the option to reserve a table ($20, per showing, per person) at one of 11 great restaurants within Larimer Square. Film nights are: June 6th, July 11th, August 1, and September 12th each with a different movie at 6 and at 8:30. All proceeds benefit participating non-profit organizations, Larimer Arts Association, and Denver Film Society; Civic Center Bike-In Movie Series, Civic Center Park, Downtown Denver. FREE and open to the public. Bike (or use other methods of transportation) to this free outdoor movie event! Bike racks will be provided. Dates are July 18, August 2, August 16, and September 13.
- Who doesn’t enjoy FREE live music? Check out the
Denver Day of Rock, this Saturday, May 25th all along the 16th Street Mall in Downtown Denver; City Park Jazz come experience live jazz music for FREE every Sunday night in June and July in City Park – 6-8pm Rain or Shine.
- Downtown Denver Arts Festival, May 24th-26th, Denver Performing Arts Complex. Come check out local art work while enjoying the sunshine this Memorial Day Weekend.
There are so many activities, so little time! Hopefully, everyone has a safe and happy Memorial Day Weekend! Stay tuned next week for even more fun-filled activities for you and your family to enjoy! 🙂
A recent article posted at NBCNews.com Business uses Zillow’s Break Even Horizon to determine the top 10 cities where renting is more economically sound than buying and how long it takes on average to break even if purchasing a home. This figure is calculated based on the net cost of purchasing a home vs. renting the same house. Here are the top 10 cities renting costs less than buying:
New York City, NY. Zillow Break Even Horizon: 5 Years; Zillow Rental Index: $2,016; Annual Change in Zillow Rent Index: 19.4%
Renting an apartment in the city would save more money than purchasing a home unless you were going to be living in NYC for more than 5 years. The average home price is $462,500. A 20% down payment is going to be $93,000 for a home this much and with the current rate of 3.277% and a 30 year fixed mortgage, you are looking at a monthly mortgage payment of $2,145 which is higher than the current rental index.
Seattle, WA. Zillow Break Even Horizon: 4.3 Years; Zillow Rental Index: $1,850; Annual Change in Zillow Rent Index: 4.7%
Waterfront property in Seattle averages about $392,200 as of December 2012.
Boston, MA. Zillow Break Even Horizon: 3.9 Years; Zillow Rental Index: $2,299; Annual Change in Zillow Rent Index: 11.3%
Based on 25 new single family homes for sale in Boston, MA, the average home costs $727,200. A 20% down payment is $145,000 with a 3.277% interest rate, your monthly mortgage payment would be $3,334. Renting in Boston on average would be a monthly savings of $1,035.
Washington, D.C. and San Francisco, CA tied for 4th for the amount of years it would take to break even if purchasing a home.
Washington, D.C. Zillow Break Even Horizon: 3.7 Years; Zillow Rental Index: $2,439; Annual Change in Zillow Rent Index: 7%
There has been an increase in new home development in the D.C. area. As of December last year, the average home cost $402,400 which is up by 10%.
San Francisco, CA. Zillow Break Even Horizon: 3.9 Years; Zillow Rental Index: $3,281; Annual Change in Zillow Rent Index: 12%
San Fran has seen an 18% increase in home sale prices year after year! Currently, the average home costs $770,600. A 20% down payment of $154,000 with the current interest rate of 3.277% would be a $3,529 monthly payment. By renting, you would save on average of $248 a month.
Portland, OR. Zillow Break Even Horizon: 3.6 Years; Zillow Rental Index: $1,423; Annual Change in Zillow Rent Index:
Portland has the most bike commuters in the U.S. Last year, 21.49% of homes sold were sold at a loss, but the average value of homes has risen 8.8% ($257,400).
San Diego, CA. Zillow Break Even Horizon: 3.4 Years; Zillow Rental Index: $2,116; Annual Change in Zillow Rent Index: 2.9%
The average San Diego home value is up 11% making the average home $404,100.
Los Angeles, CA and San Jose, CA tied for 7th place based upon the number of years it would take to break even after purchasing a home in either location.
Los Angeles, CA. Zillow Break Even Horizon: 3.3 Years; Zillow Rental Index: $2,311; Annual Change in Zillow Rent Index: 2.3%
Los Angeles has a very high unemployment rate and the home rates dropped about 35% which actually makes L.A. more affordable for home owners. The average home costs $399,800 which was up by 9.7% as of December 2012. If you put down a 20% payment of $80,000 with the 3.277 interest rate with a fixed 30 year mortgage, your monthly payment is going to be $1,863.
San Jose, CA. Zillow Break Even Horizon: 3.3 Years; Zillow Rental Index: $2,513; Annual Change in Zillow Rent Index: 4.5%
San Jose, CA has a lot more people interested in purchasing homes since the average annual income is $92,500. San Jose has a very high employment rate with over 6,000 technology companies. The average home in San Jose is $544,600 so if you put down 20% ($109,000) + 3.277% + 30 years = $2,514 monthly mortgage payment which is $1 higher per month than the current rental index!
Denver, CO. Zillow Break Even Horizon: 2.8 Years; Zillow Rental Index: $1,468; Annual Change in Zillow Rent Index: 9.3%
As of December 2012, Denver’s average home value was up by 14.1% with the average home costing $233,700.
Austin, TX. Zillow Break Even Horizon: 2.7 Years; Zillow Rental Index: $1,516; Annual Change in Zillow Rent Index: 6.2%
At the end of last year, Austin had an overall home value increase of 4.7% = $209,900.
Nashville, TN. Zillow Break Even Horizon: 2.6 Years; Zillow Rental Index: $1,190; Annual Change in Zillow Rent Index: 3.8%
The average home cost is now $140,000, which is up by 6%.
Most of the cities listed above experienced an overall increase last year in their median home values which is great news overall for the market!
Let’s face it, travel in general is filled with stress but business travelers experience these much more frequently. A recent poll from TripIt determined the top 5 most common stresses associated with travel:
- Exercise. 67% of frequent travelers said that the pressure to exercise was stressful – 17% of these responders found it to be extremely stressful.
- Healthy Eating. 66% of responders found eating healthy to be a challenge and added to the overall stress of traveling – 19% said it was extremely stressful.
- To do list upon return. 64% found the pressure of tasks needing to be done when they returned home to be a significant source of stress while traveling.
- Airport Security. Of the people that were polled, 59% found airport security to be very stressful.
- Driving in a new city. The lowest on the top 5 travel stresses is driving in a new city. 54% of respondents found this to be very stressful when they travel.
Since exercise and healthy eating are the two highest stresses for frequent business travelers, here is a list of suggestions that TripIt recommended to help alleviate some of your stress:
Bring healthy, portable snacks with you so you won’t be as temped to buy un-healthy snacks when the hunger sets in. Bring along some almonds or a banana to help tie you over between meals.
Instead of ordering a large dinner, choose a small plate or an appetizer for dinner instead. If you opt for a salad, keep in mind that the dressing has a ton of fat and calories so it’s best kept on the side. Salad is not always the healthiest choice on the menu either so be smart when choosing.
Instead of using escalators or moving sidewalks, try taking the stairs or walk to keep you moving.
Track how many steps you are taking with a pedometer or an app on your phone.
- Ask for a map of the local area with running/walking trails or nearby parks.
- Do crunches, pushups, jumping jacks, chair dips, stretching, and any other activity that doesn’t require any equipment in your room.
It is a stressful world we live in and the constant traveling makes life that much more hectic. Hopefully these tips from TripIt will make your future business trips less stressful, more active, and healthier. 🙂
Safe travels everyone!
Many of us have a 9-5 job or jobs in the service industry where we don’t have a lot of time to go on long, lavish vacations. A recent blog post by Nomadic Matt titled “How Can You Travel More Even if You Work a 9-5 Job” sheds some light on how you can use your time off most effectively while still being able to travel – even with a limited amount.
Most American’s have 2 weeks vacation per year plus the weekends = 110 travel days. Most of us also get holidays off and have some three day weekends here and there which gives us even more time to travel each year. Sure, it isn’t consecutive time but you could take a long vacation by using your 2 weeks in a row. Here are some tips on how you can maximize your time to travel a lot more this year:
Weekends. Sure the weekends only offer 2 full days (unless it’s a 3 day weekend) but that is plenty of time to explore a city close to you.
Find a location that is closer to you. If you are in America then traveling to Australia for only one week would be a waste since your travel time takes up almost 3 days! Instead, take a trip to Central America which is closer. Generally the closer the destination, the cheaper the flight is going to be too.
Be a tourist in your own city. Take time to explore the city you currently live in. Go to the museums, tourist attractions, new areas you have never been, etc. Being a tourist in your own city will give you new insight on where you live.
- Don’t try to see it all at once. Instead of trying to see everything in a short amount of time, focus on a couple attractions and destinations that you want to go see. This way, you will be less overwhelmed and will have more time to enjoy the place you are visiting.
Next time you feel like getting away, remember these 4 tips that will make your experience more fun in less time. As the famous Roy Rogers croons, “Happy trails to you, until we meet again. Happy trails to you, keep smilin’ until then.”
Personal Real Estate Investor Magazine is hosting the Investor Provider Leadership Summit in Baltimore, MD April 25th-26th at the Sheraton Baltimore City Center Hotel, 101 W Fayette St, Baltimore MD 21201.
Become familiar with strategies, service leaders, providers, and side channels that could increase your overall sales and revenue. The past event was very successful in producing hundreds of property sales to both domestic and international property investors.
Learn more about how you can make money from investment properties and hear from our very own Kimberly Smith of AvenueWest Managed Corporate Housing with her segment on the “High Margin Rental Niche.”
Don’t hesitate to register for this great event – there are only a few seats left! We hope to see you there! 🙂
If you have ever traveled alone or are planning on going soon, there are many rewards like the opportunity to experience everything that you wish to and to meet new people, but there are also precautions that need to be taken.
In the March 2013 addition of “Healthcare Traveler” there was an article published called “Safety Measures for the Solo Traveler” meant to advise single healthcare travelers on some safety measures they should take. But, these tips should be used for anyone traveling alone.
- Tell a family member or friend your travel plans. Be sure you give all the details of your travel plans with someone back home that you trust including your new address and phone number of where you will be staying. Leave them with your travel itinerary too and check in with them regularly to let them know you are safe. If you have your security settings on Facebook set to friends and family only, then posting status updates might also be a good way to let others know of your whereabouts in case anything happens.
- Double check your cell-phone company’s coverage in the new area. Be sure that your cell phone will work well in the new area you are going to – sometimes cellular providers do not have superior coverage in other areas as they might where you currently live. Go to their website and check the map of coverage.
- Get to your destination while it is still light out. You will be able to find your way around much easier in unfamiliar territory if you can see by the light of day.
- Have a GPS App on your phone (if you don’t already). Get one that will show you walking routes as well. It is also a good idea to map the surrounding areas of the place you are staying prior to getting there to determine any possible bad areas that you want to avoid.
- Don’t share too much personal information to new people you meet. Meeting new friends is great but be leery to give them any information about where you are staying or the fact that you are traveling alone as you never know who you might be talking to these days.
- Be careful if you decide to drink. If you are a drinker, don’t leave your drink unattended and don’t drink too much especially when you are first meeting new people. You want to remain in the right state of mind in case anything happens.
The majority of the time traveling alone is a very rewarding experience and nothing bad happens. But, just be smart whenever you are traveling to a new place – alone or otherwise – but especially when you are on your own.
Stay safe out there!