AvenueWest Managed Corporate Housing is a network of locally owned and operated real estate property management brokerages offering fully furnished and serviced residential properties.
AvenueWest Corporate Housing was co-founded by Kimberly Smith in 1999. Ms. Smith had been working in the corporate housing industry since 1994, and she felt strongly that the Denver area could benefit from a more innovative managed corporate housing model.
A little background on managed corporate housing…
Traditional corporate housing companies will rent apartments on a one-year lease, add rental furniture and housewares, and then add utilities (including electric, gas, cable, internet and phone services). Then, they rent these properties to their corporate clients on a month-to-month basis.
Corporations rent this longer-term housing for their employees and consultants who are traveling on assignment, who are relocating or who are displaced for insurance needs.
Corporations are willing to pay a premium to have the flexibility of a month-to-month lease with a 14-day or 30-day notice. It gives them more flexibility when their employees’ timing needs change.
Ms. Smith’s vision of managed corporate housing was fresh and different.
She felt that if AvenueWest Corporate Housing could provide the corporation with a better product—a condo, townhome or even a home—the employees would have a better stay and be more productive at their work assignments.
In addition, utilizing her real estate license, Ms. Smith saw an opportunity to manage properties owned by individuals, allowing those individuals to receive higher rental rates than they could on the unfurnished market. Plus, the property owners would see high-quality tenants:
- The corporation would be the signer and the responsible party on the lease. Therefore, the collection of rents would not be an issue.
- The occupants would know their employer was responsible for the property, so they wouldn’t do anything to their corporate apartment that would make them get disciplined at work. The wear and tear expenses over several years would be much lower.
With this concept, AvenueWest Corporate Housing was born.
In 2004, Angela Healy joined the team as the chief financial officer and manager to help with the expansion of the business. The company grew and later expanded into Colorado Springs, Colo. and San Francisco, Calif.
In 2009, the main sales manager in Colorado Springs, Colo. approached Ms. Smith about the possibility of buying and owning the Colorado Springs office. Ms. Smith founded AvenueWest Global Franchise, and in January 2010, the first AvenueWest franchisee office was opened in Colorado Springs.
The franchising model was a key decision in the long-term success of this model. Local pride of ownership allows for each property to maintain AvenueWest’s strict standards. All of the current AvenueWest franchisees are owned by real estate agents that are intimately familiar with their city and the residential real estate values. The agent/owners are always looking for the right value of properties to get their individual investors the return on investment (ROI) they require.
In May 2017, Angela and Tim Healy purchased the AvenueWest Global Franchise from Ms. Smith. Ms. Smith continues to serve as the founder and chief business development officer of the company.
The Healys had a unique perspective on the franchise model because they’d owned:
- AvenueWest Denver since 2010
- AvenueWest San Francisco since 2012
- AvenueWest Atlanta since 2016
Shortly after assuming ownership, the Healys added a national sales team. It’s responsible for working with larger national companies and representing their housing needs in all of the markets that AvenueWest services.
The company also added the St. Louis franchise in late 2017, the Las Vegas franchise in early 2018 and Denver South / DTC in the second quarter of 2018.
AvenueWest has been recognized by a variety of industry leaders. Honors include:
2018 Colorado’s Companies to Watch Award
A unique, statewide awards program recognizing growing companies that fuel the economic fire of the state.
2018 Think Realty Magazine: Industry Influencers
Think Realty’s 2018 Industry Influencers list recognizes seven individuals who are making very distinct, measurable differences in the way that the real estate industry invests and in how the industry as a whole is perceived by the general public.
2010 Company of the Year
An honor bestowed by our industry’s trade organization: Corporate Housing Providers Association (CHPA).
2009 Power Book Finalist – Residential Real Estate – Denver Business Journal
2003 Emerging Business of the Year – DMCC / Denver Metro Chamber of Commerce
AvenueWest’s Vision is to provide quality Managed Corporate Housing by professionally servicing a unique niche or business travelers with investment owner’s properties.
AvenueWest is committed to straightforward business ethics and honest communication both within the office and throughout all of our business dealings.
AvenueWest is committed to excellence, fairness and quality in everything we do.
- To deal honestly and fairly with everyone;
- To maintain a level of service beyond what people expect;
- To strive for all parties involved in a transaction to be satisfied with the outcome.
AvenueWest’s primary objective is to provide high quality condominiums, townhomes, lofts, single family homes, and apartments to meet the short-term executive housing demand.
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.
- Comply with all applicable statutory and regulatory requirements as provided by Federal, State, and Local laws and Industry standards.
- All actions must promote sincerity, honesty, and integrity.
- Be knowledgeable, competent, and professional in all aspects of the business.
- Strive to maintain currency through continuing education, both formal and informal.
- Ensure that our actions reflect positively upon the company and our industry.
- Represent quality furnished corporate rentals.
- Represent qualified corporate tenants.
- Provide a high level of service and satisfaction.
- Maintain open communication with property owners.
- Work to maintain high occupancy rates for all units within our Managed Corporate Housing program.
- Constantly work on the timeliness of tenant payments.
- Process owner rent payments in a consistent and timely fashion.
- Upkeep rental units with cost effective maintenance and repairs.
- Inspect, inventory, and maintain the condition of all our units.
- Deliver timely and complete year-end tax and expense reports.
- Maintain a high level of professionalism within the business community.
- Provide an enjoyable, positive and functional work environment for all employees.
- Continuously improve.
- Support the positive growth of the cities and states in which we operate.