But when he found there were no takers, he decided to list his fully furnished place with a do-it-yourself website called www.CorporateHousingbyOwner.com.

Black immediately landed a year's lease with a vice president for Quiznos who was transferring. And since that lease expired in May, he has had several shorter-term tenants.

"In this kind of market, when things are slow, this is a good way to offset your carrying costs," says Black, who works with casinos in Mexico.

In listing with Corporate Housing by Owner, Black discovered a nearly $3-billion-a-year business, according to the Highland Group, an Atlanta-based hotel-advisory firm. But despite its size, corporate housing is a segment of the market few sellers -- or landlords -- even think about.

Kimberly and Eric Smith are trying to change that. Two years ago, the Denver couple launched CHBO, dedicated to connecting individual owners with corporate renters. It isn't the only site on the Web aimed at corporate relocations -- rentalspacenetwork.com and condo.com are others.

The military is the largest user of corporate housing, according to Kimberly Smith. The armed services relocate about 600,000 people a year.

Traveling nurses are also big users. About 200,000 nurses move around the country annually, taking two-, six- and sometimes 12-month assignments as they go. Relocating businesses, summer interns, sports professionals, traveling showmen, insurance adjusters, people undergoing extensive medical treatment, and "snowbirds" who relocate to warmer climes in the winter are also frequent short-term renters.

In the old days of corporate relocation, companies handled the entire move as a service for their relocating employees. Now, according to Smith, the trend is to hand transferees a lump sum and let them make their own deals.

For some, the choice is a far-less-than-satisfactory extended-stay hotel. But a growing number are opting to rent furnished homes or apartments. "It's like choosing a garage over a parking lot," the corporate housing executive says. "One is basically an oversized hotel room, the other is a fully outfitted private residence."

As corporate housing, your home would be occupied by someone who would be willing to show the house to would-be buyers and move out if someone actually decided to buy the place.

One of the good things about corporate housing is that practically anything goes. "As long as it's clean and easy to use, almost anything furnished works," Smith says.

Still, not all houses fit the mold. For example, quality and security "count for a lot," she says. "If the neighborhood doesn't feel safe, the unit will be hard to rent."

Also, if you want consistent occupancy, the place shouldn't look like a dormitory. "It doesn't need to be unique," she advises, "but it should be decorated nicely."

Corporate users "will pay a premium for flexibility," Smith says. "Simply because the unit is furnished and the lease is for a short term, they will pay more than typical renters."

Of course, what owners can charge will depend largely on where the house is located. In San Francisco, with its large transient business market, an unfurnished unit might rent for $2,000 monthly while the same unit furnished would go for $3,900, according to CHBO.

Being a corporate landlord, though, requires a lot more attention to detail than simply renting out a vacant house or apartment. You've got to provide linens, silverware -- the works.

You'll also need to be able to act quickly. "The biggest complaint we get is that owners don't return calls quick enough," Smith says.

Finally, be cognizant of your homeowner association's rules, the tax ramifications and the legal requirements.

Some associations limit rentals to only one per year, for example, while others require that tenants stay a minimum of three months. Also, some states require owners to collect a lodging tax if the renter stays six months or less.

lsichelman@aol.com

Distributed by United Feature Syndicate Inc.