Unveiling the World of Corporate Housing: Benefits, Insights, and More

Exploring What Corporate Housing Is and Its Benefits

Corporate housing has become an increasingly popular choice for entrepreneurs, interns, new employees, and those on extended work assignments who must travel for business. Typically, fully furnished apartments, condominiums or homes for short-term or long-term stays are available in this category. Amenities might include housekeeping services, cable TV, wi-fi, and even fitness or collaborative work facilities. For these reasons, corporate housing serves as a fantastic alternative to several other markets: traditional hotels, long-term rentals, and Airbnb.

Understanding Corporate Housing

What’s Corporate Housing?

Corporate housing refers to a temporary housing solution for individuals who are on work assignments or those in need of a place to stay for an extended period. Usually fully furnished — which means no big headaches moving furniture — corporate housing accommodations are apartments, houses, or condos that provide a comfortable and convenient "home away from home" for corporate travelers. For those who want to avoid the hassle of booking hotels or finding a new rental lease every time they travel, corporate housing is an ideal option.

Corporate housing is designed to provide a comfortable living space that meets the needs of the traveler. Often times, all the amenities are provided in an inclusive package — one can expect work essentials like high-speed internet and a desk, as well as entertainment and living necessities like cable TV, a fully equipped kitchen, washer, dryer, and bed linens. Usually, corporate apartments can be found near business districts, airports, or public transportation.

How Corporate Housing Differs from Traditional Rentals: Short-Term & Long-Term

Corporate housing and traditional rentals differ significantly in terms of pricing and availability. Unlike traditional rentals that require a minimum stay of six months to one year, most corporate housing offers flexible lease terms that suit the traveler's needs. Corporate housing can be rented for as little as a week or as long as a year for an average stay. Another perk of corporate housing: it's also more cost-effective than traditional rentals, especially for those who need to travel frequently for work. Corporate housing usually comes in an all-inclusive pricing package, which means that the rent covers all the aforementioned amenities that the tenant would otherwise need to purchase on their own. This makes it easier for the traveler to not only budget for their stay, but also avoid unexpected expenses that may arise.

Types of Corporate Housing Accommodations

Corporate housing comes in various forms, such as serviced apartments, extended-stay hotels, or single-family homes. These types of housing can accommodate individuals, families, or groups. Serviced apartments appear to be the most popular type of corporate housing since they offer more premium and around-the-clock amenities and services: housekeeping, maintenance, and security to name a few.

Extended-stay hotels are another popular option for corporate housing. These hotels offer all the necessary amenities, such as a fully equipped kitchen, high-speed internet, and laundry facilities. Additional services usually come with these accommodations, including daily housekeeping, continental breakfast, and fitness centers.

Single-family homes are a great consideration for those who need more space and privacy. These homes are fully furnished with an equally equipped kitchen, laundry facilities, and a backyard. They are ideal for families or groups who can sprawl out and enjoy their privacy, rather than what a serviced apartment or extended-stay hotel can provide.

Consider corporate housing if you travel frequently for business. Not only is it comfortable and convenient, it's the least stressful option when also having to manage a load of work-related responsibilities. There are flexible lease terms and cost-effective pricing options, which makes corporate housing the best option for those who want to avoid the hassle of booking hotels or finding a new rental property every business trip.

Benefits of Corporate Housing

It's flexible and straight to the point. Corporate housing has become a popular choice for businesses who need to provide comfortable and affordable accommodations for their employees. You can't go wrong with an option that's both cost-effective and offers a range of benefits for all.

Cost-Effectiveness

One of the primary advantages of corporate housing? More bang for your buck. Between corporate housing and traditional hotels, the former is often a more attractive option for the negotiated rates on long-term stays. This can help businesses save money and stretch their budget further, without sacrificing the comfort and convenience of their employees.

Flexibility and Convenience

Corporate housing offers flexibility and convenience to travelers. Unlike traditional rentals, corporate housing comes equipped with everything the traveler may need, from furniture and appliances to utilities and housekeeping services. Move in usually means setting up and managing utilities, but corporate housing produces a hassle-free option for businesses and their employees. Rove Travel provides amazing corporate housing properties in New York City that are fully equipped with fully-stocked kitchens, high-speed internet and standing desks with ergonomic chairs.

Comfort and Amenities

Corporate housing often provides travelers with a level of comfort and luxury not found in traditional hotels. All the furnishings are carefully chosen to provide a warm and welcoming home-like environment. Corporate housing also comes equipped with a full kitchen, allowing travelers to prepare healthy meals that fit their dietary needs. Flexibility to cook at home, rather than needing to order every meal out, gives travelers the option to maintain a healthy lifestyle while on the road.

Ideal for Business Travelers and Relocations

Corporate housing is especially beneficial for business travelers who spend extended periods away from home. Forget the inconvenience of carrying additional luggage filled with personal belongings or having to buy new items — chances are that your household amenities will be included in this type of accommodation. Corporate housing is also an excellent option for employees who are relocating for work. It can provide them with a stable and comfortable place to stay while they settle into a new city or country. Corporate housing might be the most cost-effective, flexible, and convenient option for businesses looking to provide their employees with comfortable and luxurious accommodations. It's a top choice for anyone looking to relocate for work.

The Corporate Housing Process

In recent years, corporate housing has been on the rise. If you are considering corporate housing for your upcoming trip, it's a good idea to understand the process, know what to expect during your stay, and familiarize yourself with the payment and lease terms. If you’re seeking corporate housing, feel free to email concierge@rovetravel.com and the Rove Travel team will guide and help find your next stay!

Finding and Booking Corporate Housing

Traditional hotels are often the first option that comes to mind when booking travel accommodations. However, corporate housing offers a more spacious and home-like experience that is likely to fit your needs. Furthermore, finding and booking corporate housing is an incredibly straightforward process to start — the several websites are typically more transparent and polished than hotels or real estate advertisements. In addition, there is a high possibility that travel agencies or relocation companies can find more suitable arrangements if the traveler has any specific needs.

Booking from corporate housing companies should — in most cases — be similar to booking a hotel room. Once you've selected your fully furnished accommodation, as well as specific additional amenities unique to your living situation, you will be asked to provide payment information and sign a lease agreement.

What to Expect During Your Stay

Nothing short of a comfortable and convenient living experience, corporate housing should be an unthinkably easy experience. Unlike hotel rooms, which are usually lacking in amenities to live your daily life, corporate housing typically includes a full kitchen — a great option to have for business travelers to prepare their meals and save on dining expenses if they would like.

In addition, the housing provider can likely offer additional services, such as housekeeping and maintenance, to ensure the traveler's stay is hassle-free. Be on the lookout for additional amenities that might suit your lifestyle needs, such as a fitness center, swimming pool, roof deck, grill, business center, community programming, doorman, or a package room. This will allow travelers to maintain their daily routines while not in their typical home base.

Payment and Lease Terms

Corporate housing is typically paid for using a company credit card, ensuring a seamless transaction that won't come out of your pocket. This method of payment typically allows for easier expense reporting, since all charges will be billed directly to the company.

Leases for corporate housing are usually managed by property owners on a month-to-month basis, which offers travelers flexibility and provides them the option to extend or shorten their stay — should anything come up during their time away. This flexibility also makes corporate housing a great option for those relocating for work, as it allows them to take their time in finding a more permanent living situation.

Overall, corporate housing offers a convenient and comfortable option for business travelers and those relocating for work. With the ability to find and book accommodations easily, enjoy home-like amenities, and have flexible lease terms, it's no wonder why corporate housing has become a popular choice in recent years.

Comparing Corporate Housing to Other Accommodation Options

Corporate Housing vs. Hotels

Corporate housing offers more amenities than a standard hotel room and is an excellent option for travelers who require a more extended stay. Hotels often offer limited space, limited eating options and are more expensive per night.

Corporate Housing vs. Airbnb

Although Airbnb offers an alternative to traditional hotels, it lacks the level of consistency and quality assurance that corporate housing offers. It might be more difficult to find housekeeping and amenities like a pool or fitness center, which are not typically available with Airbnb agreements.

Corporate Housing vs. Long-Term Apartment Rentals

Long-term apartment rentals are often more expensive than corporate housing and require a more extended commitment. Corporate housing options are typically more flexible, requiring a short-term rental lease and offering more services than long-term leases. Additionally, many long-term apartment rentals come unfurnished, requiring additional expenses for furnishings and utilities, which are already bundled into the cost of corporate housing.

The Bottom Line: Corporate Housing Offers Convenience, Flexibility, and Comfort

Corporate housing is a turnkey option for business travelers and individuals or families in need of temporary housing. Without the burden of setting up and maintaining utilities or managing maintenance issues, corporate housing is a gold standard option for the least hassle and the most seamless experience settling into a new place. It is a cost-effective solution that provides the traveler with a comfortable, luxurious home away from home. When you book your accommodation with Rove Travel, you’ll get all the benefits of corporate housing with the most seamless search for your extended stay.

In search for a corporate housing rental property in New York City? Check out Rove Travel to start your search today.