Corporate Housing Providers & Real Estate Agents: The Benefits of Joining Forces

January 14, 2017 By

At first glance, it might seem like real estate brokers would simply be competitors with corporate housing providers. After all, both realtors and temporary furnished housing providers court clients in need of housing.

But upon closer examination, there are some notable ways that agents and providers can effectively collaborate rather than compete, since they ultimately serve clients at different stages along their housing journey. Here are a few ways that this type of arrangement can benefit both sides—and even more importantly, can benefit their clients by helping them to secure housing at the right time:

Benefits of Agent & Provider Collaboration

  • Realtors become problem-solvers for their clients. Sometimes a real estate agent’s clients just aren’t ready to buy a house—yet. But guidance from the realtor about how to solve their clients’ current housing dilemmas can position them well for future sales. For example, realtors may be working with clients who need temporary furnished housing before a home purchase, for reasons that might include construction hold-ups, closing delays, testing out a new area, or renovations. If the agent can point such clients toward a short-term corporate housing solution through a partnership with a corporate housing provider, it becomes a win-win-win: the agent becomes a valued problem-solver in the eyes of the client, the corporate housing provider has a new customer, and the clients have a solution to their housing dilemma to help them bridge the gap in their home-buying efforts.
  • Financial incentives on both sides. It’s clear that when partnering with real estate agents, corporate housing providers stand to benefit from new business leads. But realtors have something to gain as well from a close and non-competitive arrangement with housing providers: they can pocket some additional cash while helping to solidify their existing client relationships. Realtors generally can expect to receive some attractive extra fees for helping their own clients identify short-term corporate housing when these clients are in between homes. For example, realtors usually receive commission from corporate housing providers for their referrals; 5-10 percent is a good benchmark for licensed realtors. Providers might also pass along preferential rates to their realtor partners, which realtors can then pass along to their clients depending on the length of stay.
  • Clients get double the service. Joining forces allows real estate agents and short-term corporate housing providers to offer added value to their customers. At the same time, there’s virtually no work involved for the agent. The temporary housing provider generally handles the booking process from start to finish, taking care of the touring and the paperwork (while linking it back to referring brokers and ensuring that they receive their referral fee). By providing a referral, agents can strengthen the relationship with their own clients who might need last minute temporary furnished housing. The agent has the option to stay closely involved in this process, but doesn’t have to since the temporary housing provider has the most relevant expertise to manage finding short-term housing for the realtor’s client. That way, each party can stay focused on doing what they do best—whether that’s helping clients with the bigger picture of buying or renting a home, or helping them arrange for their temporary housing needs. Realtors clearly benefit from the extra support when corporate housing specialists tour their clients through temporary properties on the agent’s behalf, and corporate housing providers earn new business by allying with real estate agents who have clients needing temporary housing.
  • Referrals go both ways. So far we’ve only discussed the referral benefits that short-term corporate housing specialists receive by working with realtors. But the fact is that corporate housing providers often refer business back to their real estate broker partners as well. A good example of this is when temporary housing companies have international clients who are planning a move to the United States—when these clients are ready to start looking for a permanent home, providers frequently refer them to their broker partners.

Learn More About Our Real Estate Partners

To learn more about how Furnished Quarters partners with real estate brokerages by handling their clients’ headaches related to short-term corporate housing, contact maria.sorrentino@furnishedquarters.com or call 617.236.4908 ext. 1005.

Filed Under: Boston Rentals Tagged With:

Family Relocating to Boston? What You Need to Know

June 27, 2014 By

With summer just around the corner, it’s high season for family relocations. Whether you’re looking to rent or buy in Boston, families “on the move” are wise to think ahead. Summer is an ideal time to choose your new location and get settled before kids go back-to-school in September.

But if Boston is where your family’s moving truck is bound this summer, there are a few things to consider. Moving is almost always stressful, regardless of the circumstances. Family relocations can be especially challenging, so it’s important to seek support when you need it. Partnering with a corporate housing expert on the front end to help guide your decision-making process can save many headaches on the back end. As you start your moving preparations, here are three tips to consider, along with some resources to help facilitate the process:

Don’t “Go It Alone”

It can be tempting to want to take the lead when deciding where your family’s residence will ultimately be located. Yet unless you’re already very familiar with Greater Boston, you’re unlikely to fully appreciate the important distinctions between Boston’s many neighborhoods. Each section of Boston proper has it’s own unique personality, and different parts of the city might appeal to you for different reasons.

Back Bay, for example, is a target destination for many who move to Boston. As famous for its Victorian brownstone homes as for its world-class shopping and proximity to cultural institutions such as Trinity Church and the Boston Public Library, the neighborhood is considered one of the top sites of 19th-century urban design in the nation.

The Boston Seaport District on the city’s waterfront is another popular neighborhood for newcomers. The Seaport was dubbed “the hottest neighborhood in town” by Boston magazine, as it continues to attract a wide range of residents to an area that’s bursting at the seams with new development. The prime location near downtown, coupled with its explosive growth, make the Seaport a great choice for families who want to avoid a commute from the suburbs.

These are just 2 of more than 20 neighborhoods in the City of Boston—not to mention additional choices in Greater Boston, including Cambridge and Brookline. This is where corporate housing experts can help you more effectively choose a neighborhood that will best match the needs of your family.

Know What to Look For

A corporate housing expert can also help you think through your family’s specific needs and preferences to help hone in on an ideal location. Take the time up front to make sure that a corporate housing expert understands your job location, school needs, and your family’s lifestyle.

Your temporary housing provider may ask you “lifestyle” questions like these to help narrow your search for housing:

  • Where is your company’s office located?
  • Would you prefer to live in a city or suburban setting?
  • What do you and your family like to do in your free time?
  • Do you enjoy outdoor activities?
  • Are there particular types of restaurants that you prefer?
  • How old are your kids and what grades are they in now?
  • Do your children play sports?
  • Do your children have any special school needs?
  • Does your family participate in specific religious activities?

Take a “Test Drive”

Want to really get to know a locale and find out if it suits your family before making a permanent move? The best way to do so is to try out one or more temporary housing solutions before putting down roots. If you’re relocating with an employer, your human resources department may be able to work directly with a corporate housing provider to place your family in a few different locations. Then your whole family can “test drive” various neighborhoods before committing to permanent housing.

During these trial runs, you’ll be able to compare different neighborhoods in Boston to see what it’s like to live in them. Some furnished apartment providers even offer deals and discounts on local services, allowing guests to really experience each neighborhood as local residents experience it.

If appropriate prior to your relocation, ask your HR manager if the company’s corporate housing provider could tour you through multiple corporate apartment examples during any of your business trips to the area. This will allow you to explore what types of temporary housing might make your family most comfortable long before the moving truck arrives.

Resources

Check out the following resources to help you prepare before, during, and after your family’s relocation:

  • City of Boston, provides extensive information by neighborhood about communities and services, searchable by address.
  • Visitors’ Information, City of Boston, provides detailed information on transportation, things to do, culture, recreation, and weather in the Boston Metro area.
  • Greater Boston Convention and Visitors Bureau, provides a Boston Travel Guide listing hotels, restaurants, and activities in the Greater Boston area.
  • Furnished Quarters, corporate housing provider with Boston neighborhood information and corporate apartment listings.
Filed Under: Boston Tagged With: ,

Choosing Short-Term Rentals in Boston: Hot Spots 2014

May 2, 2014 By

Looking for Boston furnished apartments, short-term rentals in Boston, or a corporate apartment? There are a few top neighborhoods to keep on your radar screen.

With nearly all job sectors continuing to add to positions, ongoing widespread construction continues throughout the Boston metro to meet the growing demand for apartments in 2014. Close to 4,000 new apartment rentals will be made available in Boston’s core this year—at levels “near the pre-recession peak,” according to research from Marcus & Millichap.

This year’s hot spots center on the urban core submarkets of Boston’s Financial District and Cambridge, which are slated to roll out the majority of the new units. Boston’s waterfront—known as the Seaport District—is also seeing rising demand for housing as companies continue to relocate thousands of employees to the region. Boston’s desirable Back Bay neighborhood also makes the A-list for one of the best locations to visit (and to live).

If you’re looking for short-term rentals in Boston, here are some quick tips for travelers to these in-demand locations, including suggestions on where to stay:

Short-term rentals in Boston’s Financial District

The metropolitan submarket that encompasses both the Financial District and Seaport District—all the way to North End in downtown Boston—is ripe with housing development. Visitors to the area can enjoy convenient access to Chinatown, Boston Common, and Boston Harbor, as well as world-class shopping, restaurants, and historic sites like Faneuil Hall. Stay at the Devonshire at the center of the Financial District for unbeatable views of the city skyline.

Corporate Housing in Seaport District

Corporate apartments are in high demand in Boston’s Seaport District, with local businesses expected to relocate more than 6,000 employees over the next few years to the waterfront area alone. For an enviable location right on the Boston waterfront, stay at Park Lane Seaport, which features floor to ceiling windows with panoramic views of Boston Harbor and the city skyline.

Back Bay Housing

Another hot spot with plenty of furnished apartments in the downtown vicinity is Back Bay. Just a few miles from city center and home to the Boston Public Library and Public Garden, Back Bay allows convenient access to the bustle of Newbury Street, which is brimming with shops and cafes. For one of the best stays in Back Bay, try the luxury apartment complex Avalon at the Prudential, which features spectacular views and private terraces in select apartments to enjoy this enticing neighborhood.

Cambridge Furnished Apartments

In Greater Boston, Cambridge is at the “center of a real estate boom” according to the The New York Times. This is largely due to the explosive growth of the pharmaceutical and biotechnology industries in the area. In fact, according to the City of Cambridge, while the life sciences have been an important focus of Cambridge’s economy for over a decade, the past year has seen exceptional growth.

For visitors to this historic yet dynamic region, no destination blends “quaint” with “cultural” like Cambridge does. Just 10 minutes from downtown Boston, this college town (home to Harvard and MIT) hums with activity, from unique shops and cafes to museums and entertainment venues.

To be in the center of all that is Cambridge, stay in a furnished apartment at the Holmes Building near Harvard Square, located in the heart of the city’s world-famous Central Square. Another appealing building is Third Square, located in Kendall Square—a premier destination to be near the biotech buzz. Here, you’re well-positioned to take advantage of the best of the city’s business and leisure activities during your visit.

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Hotel Price Hikes in Boston Send Travelers Scurrying for Short-term Rentals

May 16, 2013 By

If you’re a traveler in the Northeast, it’s hard not to notice that the hotels in Boston are pricey. A recent report in USA Today pegged Boston as one of the four cities with the biggest hotel rate increases in 2012. The average daily rate hovers around $158 per night—significantly higher than the national average of $106 per night. Climbing hotel taxes in Boston are partly to blame.

The average rate is one thing, but if you’re curious just how expensive it can get to stay in a hotel in Boston with more space and a few amenities, hold on to your hat. The Boston Business Journal found luxury and five-diamond rating hotels ran anywhere from $2,000 to $8,000 per night—and that’s before taxes.

What do you get for your money? In some cases, not much more than two bedrooms, two baths, and a view of Boston Common. That’s why travelers in increasing numbers are turning to temporary furnished apartments in Boston for an alternative to expensive hotel stays.

Providers of corporate apartments and other short-term rentals in Boston can offer more bang for your buck. While not all temporary housing providers offer equal service and amenities, some have been proven by industry standards to stand out above the rest.

Furnished Quarters, for example, was awarded a Platinum Award from CARTUS Global Network for the last three consecutive years, based on outstanding innovation and customer service. This provider of temporary furnished apartments goes above and beyond with both living space and amenities, at prices on average 30% to 50% less than comparable hotels.

The residences at Furnished Quarters are more reminiscent of life at home than life on the road. Fully furnished bedrooms and baths are created by an in-house design team that pays attention to the details—from furniture to wall décor and housewares. It makes staying in these apartments surprisingly different, with a distinct local flavor.

These apartments are no secret in Boston. The company reported nearly 100% occupancy of its Massachusetts-based properties during heavy vacation months in 2012, and this summer, these unique residences promise to be equally popular with travelers.

Filed Under: Boston Rentals Tagged With: , , , , ,

Boston Furnished Rental Apartments – Where to Stay

March 25, 2013 By

Whether you have travel on your mind, an upcoming business trip, or a move planned to the Northeast, there are many reasons to get to know Boston and its furnished rental apartment market. As the capital of Massachusetts and the largest city in New England, Boston offers something for corporate travelers and vacationers alike.

Some describe Boston as a city of contradictions: it’s as hip as it is historic, and as charming as it is sophisticated. Some come to explore Boston’s past as one of the oldest cities in the United States and the scene of several key events in the American Revolution. Others come to enjoy the metropolitan offerings of one of the country’s top urban destinations, including world-class dining, shopping, and museums. Boston is also home to more than 100 colleges and universities.

For those looking for temporary furnished housing in the Boston area, it helps to understand Boston’s many neighborhoods. The city is divided into 23 distinct neighborhoods that offer a range of experiences and personalities depending on the reason for your visit.

Financial District

If you’re on a business trip or are just looking for bustle, downtown Boston has what you need. This vibrant financial hub is teeming with boutiques and department stores, restaurants and parks. When your workday is done, you can take in the neighboring Boston Harbor, stroll along the Boston Common, or try out a famous restaurant, such as Cheers.

Back Bay and South End

For a more vintage feel, check out the Back Bay neighborhood, which features a wide range of unique vintage homes, unique shops, and quaint cafés. The South End is Boston’s Landmark District, where you’ll find majestic Victorian homes and picturesque row houses, as well as trendy art boutiques and “Restaurant Row” on Tremont Street.

Beacon Hill

Beacon Hill, adjacent to Boston Common, is considered one of the most desirable historic neighborhoods in Boston. It’s known for its brick sidewalks and narrow, gas-lit streets. The Massachusetts State House is located at the top of the hill.

When it comes to places to stay in Boston, this is the tip of the iceberg. Learn more about Boston’s neighborhoods and available short-term rentals at www.furnishedquarters.com—we have your visit covered.

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