What is Corporate Housing?

If you’re looking for corporate housing it may be safe to say that you know what it is, right? It’s a term that’s often thrown around with extended stay as well but they aren’t the same thing.

Also keep in mind that while it is called corporate housing it isn’t just for business travelers. It can be your home away from home as it has all the perks of an apartment or condo to go along with the same amenities and services of a hotel chain. Sometimes families are displaced by disasters or in between jobs. It can be a better fit for seasonal travelers as well.

With that being said corporate housing is high tech. Often times they have fax machines, multiple telephone lines, video games, printers and high speed internet. Depending on the place they can also add their own personal packages such as the “Asian Kitchen.” This comes with rice bowls, chopsticks, noodle bowls, rice steamers, teapot and teacups and more such as a stir-fry wok.

In the travel industry it basically means that you will be on the road and renting out a furnished condo, apartment or house temporarily. Corporate housing is growing having brought in $2.73 billion in 2014 (www.chpaonline.org)! Corporate housing has steadily grown over the last 20 years. There are around 61,000 units in the United States while the average stay has increased to 96 nights, up from 83 nights. The current occupancy rate is 88.6% while relocation is the main reason for people to stay in a corporate housing location. Project and company training was also a big reason for corporate housing.

Corporate housing often times has more square footage but costs less than a hotel. It also offers customer service and are used for stays averaging one month or more and often times at least 80 days. Corporate housing is a much more stable housing environment as well. Corporate housing companies are fully furnished and can come with several other amenities and are kept clean in between clients coming and going.

It has everything you need for you to live comfortably away from your own home. There are also service packages you can choose from depending on where you end up staying. Corporate housing serves the following industries:

• healthcare
• insurance
• consulting
• government
• information technology
• financial
• engineering
• Any other industry you can think of

They can also be called serviced apartments, executive rentals, executive suites, temporary housing and furnished apartments. One of the greatest perks of corporate housing is that you can get three times the space of a hotel to go along with all the amenities.  There are usually onsite laundry facilities and usually strategically located near entertainment, shopping and night life. You don’t have to disrupt your needs or your routine to live in corporate housing.

If you have a family the best choice you can possibly make is corporate housing. In a hotel room you don’t get any privacy. In corporate housing you can and at a much cheaper price than a hotel.

The amenities are there as well. You can find corporate housing with a kitchen, deck, gym, inside unit laundry, fireplace, hot tubs, pools, home cooked meals and more depending on the place you stay. You can even save money by cooking your own meals instead of having to go out and eat all the time.

Corporate housing is fast getting a reputation for it’s excellent service. You can also pay one bill that covers everything including your electric bill, internet, cable, gas, furniture and phone.

An extended stay hotel is also referred to as an apartment hotel or residential hotel. It is often located in an apartment complex that uses a hotel system to book it’s clients. It’s the same as renting out an apartment but there are no fixed contracts and you can check out whenever you want to.

People stay for a few days or sometimes even years! Extended stay hotels can most closely resemble a studio apartment. There is a bed, a bathroom and a kitchen area. Everything you need is there for you.

 Original Posting: What is Corporate Housing?