What is Corporate Housing?
It’s no secret that corporate housing offers many advantages to those traveling for both business and pleasure. But there are many facts about corporate housing that you may not be aware of.
Did you know that…
Corporate housing goes by many names
There are a number of industry terms that all indicate a furnished residence with full-service amenities, primarily for stays of 30 days or more. Whether you call them corporate apartments, furnished apartments, temporary furnished apartments, short-term furnished apartments, serviced apartments (common in the UK and Europe) or executive suites, you’ll be getting a similar service.
Corporate housing cuts down on extra costs
The Corporate Housing Providers Association (CHPA) recommends that when comparing pricing options for accommodations, you should consider extra costs incurred at hotels compared to the all-inclusive price of furnished apartments. Corporate housing includes many amenities as part of the package, while hotels tack on additional charges for services that are considered “extras.” CHPA notes that cost comparisons should evaluate whether the lodging option charges extra for:
- Internet access/WiFi
- Washer/dryer and laundry services
- Premium cable
- Use of business center and fitness center
- Use of pool and spa
Because temporary furnished housing providers don’t generally charge for services like these and also save guests money on hotel taxes, staying in corporate housing can result in a savings of 30-50% over hotel stays.
Furnished corporate housing is for business or leisure
While CHPA reports that relocation is the primary reason for guest stays in corporate housing, there are a number of reasons why both business travelers and those traveling for pleasure should also consider this option. Furnished housing serves all industries, creating customized rental experiences for professionals in consulting, finance, entertainment, technology, government, and healthcare, to name just a few. For non-business travel, short-term and furnished apartments are a great housing solution when traveling with family, relocating, renovating your home, staying near medical facilities or pursuing educational opportunities.
Corporate housing keeps you healthy
Most travel situations involve heavy, expensive meals out, since there is generally no other option. But furnished apartments come outfitted with full-sized kitchens stocked with appliances, dishes, and everything you need to make your own meals. You can eat conveniently on your own schedule, keeping dietary concerns and preferences top of mind, while reducing the significant expenses incurred with restaurant dining. What’s more, many corporate apartments also include free access to fitness centers and swimming pools, which makes it much easier to exercise while traveling.