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Posts tagged ‘Relocation’

31
Jan

Understanding Key Data Metrics Regarding Relocation

In the January 2017 addition of Mobility Magazine, Michael Krasman, the CEO and Co-Founder of Urbanbound, which provides relocation management software, discusses the 3 main data metrics that companies should be using to identify whether or not their relocation program is successful.

trickybusinessCost Metrics. What is the actual cost of the employee’s relocation not the total cost of the entire relocation program. A company should understand the break down of their annual relocation budget based on each individual employee’s policy, assignment location, length of stay, etc.

supplier-network Valuable Supplier Network Data. Using metrics to compare your vendors in terms of cost, employee satisfaction, and regions served will create company benchmarks that will determine which suppliers remain in a company’s supply chain moving forward.

 Employee Insights. The overall success of any company’s relocation program can be directly tied to their employees’ performance at work. If an employee is satisfied with their relocation, then their quality of work should not be affected. Every company should track their retention and turn over rates: how long are the relocated employees staying with the company during and/or after their assignement(s)? Were they satisfied with the suppliers used and services provided during their relocation? What challenges did they face? These are crucial insights that will help any company make any necessary changes to their relocation programs moving forward and share this information with their future transferees.

employee-satisfaction

Tracking key data metrics relating to a company’s relocation program will dramatically improve the overall success of the program and in turn, the satisfaction, retention, and performance of each transferred employee. After all, a happy employee is a productive employee.

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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:

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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

 

 

7
Nov

From CHPA: Top 6 Questions Answered About Temporary Living

The Corporate Housing Providers Association (CHPA) has compiled the six most frequently asked questions regarding corporate housing answered by several different corporate housing providers and they have allowed us to post these here:

“While most industries have rebounded and are making strides, the economic downturn created an entire class of new, innovative ventures – the new sharing economy. While local governments and communities continue to struggle with how this new paradigm impacts businesses and communities, business – and global mobility – moves on. Whether you need a ride, someone to care for your pets, or someplace to temporarily stay, how we get what we need, personally and professionally, is changing. In today’s ever-evolving business climate, corporate housing professionals remain a strong resource in the relocation industry.

We asked several corporate housing providers to clarify common questions of guests about what they offer in today’s marketplace…

  1.  The industry average for temporary living is $140 per day. This equates to a $4,200 per month apartment and seems expensive. What comprises the rate?

When seeking quotes for corporate housing, guests are often tempted to compare this lodging option to extended stay hotel rates. While rates may be similar in some markets, they are vastly different in many others. Be sure to analyze that you are comparing like items. Simply comparing daily rate is comparing apples to oranges. Think beyond just a roof and a bed, and include all the items that make a house a home.

Included in the rate are housewares, linens, furniture, electronics, decor and lighting, and a single source for all utilities and customer service oversight. Other common and readily available services are cable television or satellite service, movie options, wireless internet and even local phone service and housekeeping. Corporate housing also includes many upscale amenities and services expected in how we live today as this housing is in a residential setting. Services such as grocery shopping, business centers, fitness centers, car services, and pet-friendly properties are readily available if needed in this temporary space.

When breaking down the cost of corporate housing even further to illustrate how all of the additional costs and expenses are factored into the price of the accommodation, the profit margins are very small and getting smaller as rents continue to increase. Outside of rent, the additional costs can be 50% or more of the total cost.

‘Factoring in all of the housewares and furniture plus the utilities, the net cost is more than double the base rent per month,’ Gavan James, CCHP, President and CEO of Nomad Temporary Housing explains. ‘Finally, they must have staff to administer their business, sell, set-up, clean and service the apartment and factor in vacancy cost for when the apartment is not rented. The net result is ofter a 5% profit margin on that apartment.’

With more square footage, more residential-type amenities, as well as access to all resident functions, corporate housing guests can participate in a community rather than just pass through a transient environment.

2. Why does availability change from day to day?

Availability fluctuations seem mysterious; however, the answer is simple. While there are many options when it comes to hotel choices, availability at apartment communities is at an all-time low across the country. Available inventory is often difficult to locate and once an apartment has been returned to the community, it might not be available to rent again. These communities are looking for long-term renters, so a returned apartment is often immediately re-leased.

‘Units are only offered once the guest gives a formal notice to depart. These notices are received on a daily basis, making those apartments available to the next renter,’ says Jeff Mahoney, Vice President of Global Business Development for Weichert Corporate Housing. ‘It is important to make a timely decision when an apartment is offered, or the apartment may be rented to another guest.’

3. Why can’t we get a volume discount for larger groups such as a summer intern group?

Corporate housing costs for expenses such as rent and utilities are fixed costs. They do not change regardless of the number of units a provider manages at a property. In addition, market forces can make offering discounts difficult, especially in summer months.

‘Apartment rents are higher during the busy summer months. Availability is also at a premium due to higher demand,’ explains Guy Cook, COO of SuiteAmerica. ‘Both of those forces pre-empt flexibility on price, even for large groups.’

Most corporate housing providers agree that given the length of stay and number of accommodations needed, some flexibility may apply. Proper planning and advanced notice can help inform your housing provider so they can review available apartments to offer a creative solution that could save you money.

‘Most companies would like to see their interns have housing at one location,’ says Pam Wade, CCHP, Vice President of Gables Corporate Accommodations and CHPA Chairman of the Board. ‘Strategically, it makes more sense to work with a provider that has inventory in the market the company needs and place the company associates at several locations.’

4. I need a place for a short stay for 30 or 60 days, why should I rent from a corporate housing provider instead of an online host, such as an AirBnB place? They seem cheaper and more hip.

With all the variables that come with relocating, it is often tempting for individuals to use an online marketplace to manage the housing portion of their relocation. As this is how most people are comfortable finding hotel accommodations, using this approach to finding longer-term housing seems like a logical next step. Individual searches for acceptable lodging can be risky and daunting; however, using a corporate housing provider can reduce the stress and liability of trusting strangers.

Corporate housing providers have a great deal of experience in providing everything a relocating individual or family needs. These professionally managed companies have a vested interest in making sure guests have a positive experience as their company’s reputation is at stake. ‘With a Code of Ethics, best practices training and a network of partners to provide a guest with what they need,’ says Samantha Elliott, CCHP, CRP, President of Preferred Corporate Housing, ‘partnering with a professional corporate housing provider alleviates risk.’ Online marketplaces come with more risk.

Security is certainly one of the major concerns for someone new to the area. This includes security of the property as it relates to the location as well as the safety and condition of the property itself. Apartments are zoned for the correct type of occupancy as well as abide by fire and safety codes. When using a personal residence found through an online marketplace, there is no guarantee the accommodation will be safe and secure.

‘Renting a small room in someone’s house or apartment might be fun for a few days,’ say Piper Ayala, CCHP, Vice President of ExecuStay Midwest. ‘But for extended stays, the comfort, convenience and spaciousness of a corporate apartment is a much better fit for corporate travelers.’

As online marketplaces do not monitor or regulate safety compliance for listings, it is the responsibility of the end user to properly assess the safety and condition of listings. This can be very difficult and time-consuming for guests. There are very few resources available that provide background information or inspection history for listing owners and their properties.

With all the variables that come with relocating, finding knowledgeable expertise to ensure a smooth transition is critical to avoiding an expensive ‘bad’ decision. The majority of individual postings on web aggregator sites do not have experienced mobility professionals to help relocate individuals and families globally. Look for professionals that hold designations from various organizations, including ERC certifications, that reflect their dedication and knowledge in the industry.

Just as relying on online marketplaces can be risky, so can expecting to use extended stay hotels for short-term stays. While there may be some availability, they may not be able to accommodate a guest for the duration of their stay.

‘When comparing corporate housing to hotels, keep in mind that hotels may not be able to offer 30 or 60 consecutive days,’ explains Wade. ‘If there are other events going on in a market (sporting events, conventions, etc.), there may already be weeks or weekends booked months in advance.’

5. Typically, the minimum length of stay in corporate housing is often 30 days, based on local and/or legal restrictions. When and why is a shorter length of stay acceptable? What is the maximum length of stay?

Corporate housing is governed at the local level. Many times, local regulations prohibit stays of less than 30 days. Shorter term stays for less than 30 days may be available where it is legal. Your professional corporate housing provider can advise on this issue on a per market basis. Conversely, guests can frequently stay in corporate housing indefinitely depending on availability, allowing for flexibility for extended assignments.

‘We consistently monitor and stay informed on the local laws and legal restrictions as it relates to the minimum stays in our markets,’ says Billy Cochran, Director of Operations for TP Corporate Lodging. ‘While there are frequently minimum stay requirements, guests can often stay in their accommodation as long as it is available and frequently can extend their stays.’

6. Why do I need to give a 30 day notice to depart a temporary apartment? A hotel does not require this.

A notable difference between hotels and corporate housing is the notice to depart. While hotels typically don’t require any type of notice that a guest is leaving, corporate housing typically requires 30 days’ notice. Corporate housing companies manage their inventory by controlling their vacant apartments. Keeping vacancy low allows them to offer competitive rates, keeping the rates reasonable for guests.

‘An extended stay hotel allows guests to depart without notice; however, they would charge significantly more per day for a comparably sized apartment alternative,’ says James. ‘Corporate housing providers ask for a 30 day notice so they have time to re-rent the apartment and avoid a vacancy.’

With more housing options today than ever before, the answers to these questions are critical to a successful temporary stay. Understanding the reality of today’s marketplace will help set expectations and ensure a smooth transition by alleviating stress. One way to do this is to partner with a qualified corporate housing provider for all of your needs.”

22
Nov

Welcome AvenueWest Atlanta!

Our newest location officially opened November 21, 2013: AvenueWest Atlanta located at 5905 Atlanta Highway, Suite 101. AvenueWest Atlanta connects private landlords with business travelers, or relocated families in need of full service corporate housing.

AvenueWest Global Franchise welcomes their newest franchise: AvenueWest Atlanta! We are so excited to help grow this newest market, and for our recent expansion into Phoenix and Fort Collins as well!

AvenueWest Global Franchise welcomes their newest franchise: AvenueWest Atlanta! We are so excited to help grow this newest market, and for our recent expansion into Phoenix and Fort Collins as well!

AvenueWest Global Franchise has been tapping into the emerging trend of business executives who are finding both financial freedom and life balance through franchise ownership. Jennifer Haigler, the owner of the AvenueWest Atlanta office, along with her husband Rory, came to the realization she needed the flexibility, provided by AvenueWest, when one day she realized she didn’t even know what her young son was wearing to school that day. Jennifer, a veteran of the corporate relocation industry and a licensed Certified Relocation Professional (CRP) says: “It was a profound moment in time for me as I decided I needed to do something to bring some work/life balance back to my existence.”

AvenueWest’s approach to Managed Corporate Housing is an exciting opportunity that taps into both Jennifer’s previous relocation and corporate housing experience and Rory’s real estate experience as they look to build a long term sustainable business. The Haigler’s say Atlanta is the perfect place to set up a corporate housing shop.

Jennifer continues: “Many relocated families and professionals as well as business executives would prefer to stay in our AvenueWest properties since they provide all the amenities of home. Our properties are in real residential settings instead of the more transient environments found when staying in hotels. The cost to stay in an AvenueWest property is also typically less expensive per night than staying in a hotel.”

Rory adds: Atlanta’s real estate market is currently booming, but there is a shortage of homes available for sale in the metro area.

“There seems to be demand from every corner. As the economy continues to strengthen, more and more people are relocating to Georgia and Atlanta in particular. As of August, Atlanta’s employment grew by 57,100 (a 2.4% increase)! Atlanta’s diverse economy generates a constant flow of people moving into the area to find a new home, and short term housing presents the best solution during that time of transition for relocating families, individuals, and executives alike, especially since the homes on the market are being snagged so quickly,” stated Rory.

“Individual homeowners and investors alike who want to offer their furnished homes or condos as corporate rental properties will have the opportunity to make additional revenue in today’s economy. By partnering with us and using our proven Managed Corporate Housing system, we can both benefit from the growing need for temporary housing solutions in the area. It’s exciting to be able to help owners develop their investment properties and turn them into major profit centers,” added Jennifer.

"Individual homeowners and investors alike who want to offer their furnished homes or condos as corporate rentals properties will have the opportunity to make additional revenue in today's economy..." like at the Sterling of Dunwoody community.

“Individual homeowners and investors alike who want to offer their furnished homes or condos as corporate rentals properties will have the opportunity to make additional revenue in today’s economy…” like at the Sterling of Dunwoody community in Dunwoody, GA.

Kimberly Smith, the CEO of AvenueWest Global Franchise, says that opening an office in Atlanta is the latest step in an aggressive expansion plan that the company initiated in July of this year.

“AvenueWest’s privately owned properties offer more choices to today’s executives or relocated individuals who want a fully furnished property with all the comforts of home, high-end furnishings, and many times, amazing amenities over standard corporate housing rentals or extended stays,” says Smith. “With the Haigler’s knowledge of the area and the local real estate, relocation, and corporate housing industries, AvenueWest Atlanta is uniquely positioned to offer the kind of rental properties required by discerning executives and individuals and families who are being relocated to the area. It also offers the opportunity for private landlords to earn greatly increased rental income on their properties.”

If you or someone you know is being relocated to the Atlanta area, you can contact AvenueWest Atlanta directly by calling 678-901-9171 or by emailing Jennifer at JHaigler@AvenueWest.com. If you are a property owner or investor who wishes to put their fully furnished home, condo, town home, or loft into AvenueWest Atlanta’s inventory, contact Rory at RHaigler@AvenueWest.com.

About AvenueWest Global Franchise

Established in 2010, AvenueWest Global Franchise grew from the desire to expand the business opportunity and corporate housing excellence achieved through the AvenueWest Managed Corporate Housing program that was founded in 1999.

Currently, AvenueWest Global Franchise has offices in Atlanta, GA, Boston, MA, Colorado Springs, CO, Dallas, TX, Denver, CO, Fort Collins, CO, Phoenix, AZ, and San Francisco, CA.

15
Jul

Tips for Choosing the Perfect Pet and Travel Companion

If you are frequently relocated for your job, having a pet that is able to travel with you will make the transition your new surroundings that much easier. There are several factors to consider; however, before you pick out your new four-legged friend. You want to be sure that your new pet can spend hours alone, travels well, and adapts to changing work schedules and new surroundings easily.

  • Small dogs

    If you decide to get a dog as your new travel companion, a smaller breed generally travels better and adapts to smaller living spaces. Some housing options have pet weight restrictions too.

     Smaller breeds will be better to travel with. Most cat breeds are small enough to take with you on a plane ride but choose carefully when it comes to which breed of dog you choose. Asking a veterinarian will be your best bet to determine the size of your full grown pup if it is a mixed breed and you adopt it from a shelter. Generally, big paws = big dog.

  • North American Temperament Test Association

    Be sure you test your potential new pets temperament to see if they would be a good fit for you.

     Choose a pet with the appropriate temperament level. Breeders are a good source to find out a particular breed’s temperament. You can check out http://iaabc.org/dog to find training consultants near you and read their blog all about dogs. You can also visit atts.org for information all about temperament testing and breed statistics.

  • Dog Training

    Be sure to train your new pet right away and be consistent.

     Start the training process right away. Consistency is key when you train your new pet. Be sure you stop any bad behaviors as soon as you see them and put your new pet on a set schedule. Don’t allow your new pet to do anything that you don’t want it to continue doing once it is settled in.

  • Pet Carriers

    Get your new pet used to all that travel brings – car rides, carriers, etc. before you take your next journey together!

     After they are fully vaccinated, expose them to the traveling lifestyle. Be sure you get your new pet accustomed to car rides and their pet carriers that they will be in during travel so that they can get used to this before you take your first journey together. Get them some toys to play while you are gone during the day.

Pets bring joy into our lives and can make our transition easier whenever we are relocated to a new city. Be sure you choose a good travel companion that can easily adapt to their new surroundings as well and changes in your schedule. Most places do allow pets but many times they have weight restrictions so be sure to keep this in mind when selecting your new pet. Follow all the above tips and pretty soon your pet will be the perfect travel companion!

So Where are We Headed dogs

To find the perfect home away from home that accepts pets nationwide, visit www.corporatehousingbyowner.com or if you are relocating to Boston, MA; Denver, CO; Dallas, TX; San Francisco, CA; or Colorado Springs, CO, visit www.avenuewest.com for fully furnished, all-inclusive short or long term rentals.

12
Jun

Relocating This Summer? Be Sure to Follow These Steps to Make Your Move a Success

Ahhhh summertime. The weather is hot and the living is easy, that is if you don’t have to move! Moving is a stressful process that has way too many moving parts. But, if you get organized and follow the checklist below, your move should have less headaches.

  1. Moving this summer? Decide if you are hiring a professional moving company or doing it yourself.

    Moving this summer? Decide if you are hiring a professional moving company or doing it yourself.

     Decide how you are going to get all of your stuff from your current residence to your new one: are you going to hire a moving company or do it yourself? If you decide to hire a professional moving company, shop around to find the one that is going to be the most cost-effective for your trip. You can always hire a go-between company such as Consumers Relocation that will assign you to your very own agent who will find you the best rates from companies that they have a lasting relationship with. If you plan to do the move yourself, be sure you find some friends and family members that can help you out on moving day.

  2. Sift and sort through all of your belongings to determine what you are taking with you and what you aren't. Make four piles: Keep, Donate, Sell, and Trash.

    Sift and sort through all of your belongings a month or so before your move to determine what you are taking with you and what you aren’t. Make four piles: Keep, Donate, Sell, and Trash.

     Determine the items that are going to be coming with you on your move and donate/sell unwanted items to make your load smaller.

  3. Organize and Transfer all of your important documents such as your kids school documents, medical, dental, vision, and veterinary.
  4. Inventory all of the items that will be coming with you and determine if your current furniture will fit in your new place.
  5. Be sure you have all of your moving supplies ready including boxes, packing tape, etc.

    Be sure you have all of your moving supplies ready including boxes, packing tape, etc. Photo courtesy of Guardian Removals

     Get plenty of boxes and moving materials such as packing tape, permanent markers (to write on the boxes), etc.

  6. Be sure you change your address with the post office.

    Before you move, be sure you change your address with the post office.

     Change your address with the post office. Disconnect your current utilities/cable/phone/internet services and have them re-connected or set up at the new place prior to your move.

  7. Make travel arrangements for your pets (if applicable).
  8. Let your friends and family members know you are moving and give them your new address.

    Let your friends and family members know you are moving and give them your new address.

     Notify your friends and family that you will be moving and give them your new address.

  9. Begin packing the items you won’t be using prior to your move.
  10. Plan your meals ahead 1-2 weeks prior to your move.

    Plan your meals ahead 1-2 weeks prior to your move.

     Plan your meals for the time before your move accordingly.

  11. Be sure to refill your prescriptions before your move so you have enough.

    Be sure to refill your prescriptions before your move so you have enough.

     Refill prescriptions and be sure you have enough until you can get more in your new location.

  12. Pack all valuables and essentials needed on hand during the move – these items should be in the car with you.
  13. Empty and defrost your fridge and freezer 24 hours prior to your move.

    Empty and defrost your fridge and freezer 24 hours prior to your move.

     Drain all water hoses and empty and defrost your fridge and freezer 24 hours before you go.

  14. Check the house to make sure that you have everything on moving day. If you are hiring a professional moving company, be sure you go over the inventory list before and after you arrive at your new destination.

Hopefully this moving checklist will help anyone relocating this summer. If you are going to be relocating to a new city entirely, it might be wise to get a fully furnished rental in the new neighborhood for a couple months before your move to familiarize yourself with your new surroundings. Or, if you are having problems selling your current house and need to move to the new location right away, you could always hire a property manager that can manage your property on your behalf and get you some additional income until the property can be sold.

2
May

Sometimes Renting is a Much More Economical Option Than Buying: Top 10 Cities

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:

1.

Top 10 Cities Where Renting is more economical than buying: New York City.

Top 10 Cities Where Renting is more economical than buying: New York City.

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.

2.

Top 10 cities where renting is more economical than purchasing: Seattle, WA.

Top 10 cities where renting is more economical than purchasing: Seattle, WA.

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.

3.

Top 10 cities where renting is more economical than purchasing: Boston, MA.

Top 10 cities where renting is more economical than purchasing: Boston, MA.

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.

4.

Top 10 cities where renting is more economical than purchasing: Washington, D.C.

Top 10 cities where renting is more economical than purchasing: Washington, D.C.

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%.

4.

Top 10 cities where renting is more economical than purchasing: San Francisco.

Top 10 cities where renting is more economical than purchasing: San Francisco.

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.

5.

Top 10 cities where renting is more economical than purchasing: Portland, OR

Top 10 cities where renting is more economical than purchasing: Portland, OR

Portland, OR. Zillow Break Even Horizon: 3.6 Years; Zillow Rental Index: $1,423; Annual Change in Zillow Rent Index: 8.6%

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).

6.

Top 10 cities where renting is more economical than purchasing: San Diego.

Top 10 cities where renting is more economical than purchasing: San Diego.

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.

7.

Top 10 cities where renting is more economical than purchasing: Los Angeles.

Top 10 cities where renting is more economical than purchasing: Los Angeles.

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.

7.

Top 10 cities where renting is more economical than purchasing: San Jose, CA.

Top 10 cities where renting is more economical than purchasing: San Jose, CA.

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!

8.

Top 10 cities where renting is more economical than purchasing: Denver, CO.

Top 10 cities where renting is more economical than purchasing: Denver, CO.

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.

9.

Top 10 cities where renting is more economical than purchasing: Austin, TX.

Top 10 cities where renting is more economical than purchasing: Austin, TX.

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.

10.

Top 10 cities where renting is more economical than purchasing: Nashville, TN.

Top 10 cities where renting is more economical than purchasing: Nashville, TN.

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!

1
May

The Top 5 Most Common Stresses of Business Travel and Steps You Can Take to Remedy Them

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:

  1. Exercise. 67% of frequent travelers said that the pressure to exercise was stressful – 17% of these responders found it to be extremely stressful.
  2. 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.
  3. 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.
  4. Airport Security. Of the people that were polled, 59% found airport security to be very stressful.
  5. 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:

  • Have portable, healthy snacks on hand to fend off hunger until your next meal.

    Have portable, healthy snacks on hand to fend off hunger until your next meal.

    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.

  • Try ordering a couple small plates or an appetizer and small salad instead of a huge meal.

    Try ordering a couple small plates or an appetizer and small salad instead of a huge meal.

    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, take the stairs instead.

    Instead of using escalators, take the stairs.

    Instead of using escalators or moving sidewalks, try taking the stairs or walk to keep you moving.

  • Get a pedometer or download a pedometer app on your phone to track how many steps you are taking.

    Get a pedometer or download a pedometer app on your phone to track how many steps you are taking.

    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.
Be resourceful when traveling for business. No time to head to the gym? No problem, just use your hotel room instead.

Be resourceful when traveling for business. No time to head to the gym? No problem, just use your hotel room instead.

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!

18
Apr

How to Make the Most of Your Days Off Through Travel

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:

  1. Hop in the car and drive somewhere nearby to spend your weekends away from home!

    Hop in the car and drive somewhere nearby to spend your weekends away from home!

     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.

  2. If you only have a limited amount of time to go somewhere, choose a destination that is closer to where you live rather than flying half way across the world.

    If you only have a limited amount of time to go somewhere, choose a destination that is closer to where you live rather than flying half way across the world.

     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.

  3. Have limited funds but still want to get away this weekend? Be a tourist in your own city (maybe just not this obvious).

    Have limited funds but still want to get away this weekend? Be a tourist in your own city (maybe just not this obvious).

     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.

  4. 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.”

16
Apr

Come Learn About Investing in Real-Estate

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.

The Investor Provider Leadership Summit is next week April 25-26, 2013 in Baltimore, MD - don't wait to register for this amazing event!

The Investor Provider Leadership Summit is next week April 25-26, 2013 in Baltimore, MD – don’t wait to register for this amazing event!

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! 🙂

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