If your job requires you to work out of town for a significant amount of time or relocate at a moment’s notice, you might be able to request corporate housing, or corporate lease apartments, to accommodate you. Traveling on the road for work can be hard enough without living out of a hotel room, making corporate housing appealing to workers. Employers are finding out that the benefits of using corporate housing stretch beyond happier employees.
Corporate housing is a solution for both short-term and long-term housing needs that arise due to an employee needing to work away from home. The employer pays for corporate housing to provide their employee with a place to live when they’re either on the road for long periods or forced to relocate quickly. Corporate lease apartments can also be a viable solution for interns who work for your company for a designated period of time, providing them with housing during their temporary placement. Employees utilize corporate housing for an average of two to three months. Some corporate housing communities have minimum stay requirements, so you’ll want to verify this prior to booking for an employee. Corporate housing differs from an extended stay in a hotel because it utilizes furnished apartments that include all utilities, such as electricity, garbage, water, sewer, and internet. The additional square footage of an apartment also allows employees to spread out over several rooms for dining, sleeping, and lounging, making the overall experience feel more like home. Corporate housing options range from apartments to condominiums to houses, depending on the area. Amenities can include cleaning services or even pool or gym access.
Unlike traditional apartments, corporate lease apartments offer residents a few perks that are typically restricted to vacation rentals and hotels. Corporate lease apartments come fully furnished, including any linens, towels, dishes, and appliances to provide a home-like feeling. They also include the utilities and amenities, such as television and a washer and dryer located in the unit. By design, business travelers can arrive with just their suitcase and feel at home the moment they step inside a corporate lease apartment. Other than purchasing groceries for meals, the traveler should be ready to go.
Anyone who plans to stay in a location for a limited amount of time can benefit from corporate housing by leasing a corporate housing apartment. College interns may use corporate lease apartments while completing their internship with a business in the area. The same goes for those working at a job as a temporary intern. Anyone who plans to move to a new city could check out the communities by living in corporate lease apartments for a few months. In the case of a house fire or natural disaster that forces you to leave your home, a corporate lease apartment could be beneficial. And, of course, business travelers who are either working on the road for an extended period or are relocating in a short time frame can utilize corporate lease apartments. While corporate housing is designed to appeal to business travelers or those relocating for business, they are not exclusive. Anyone can rent a corporate housing option, and you can find options on the same sites as other long-term rentals. If you want to spend the summer in Maine or the winter in Texas, you could do so in corporate housing.
While many corporate housing companies have a minimum stay, most do not have a maximum stay. This allows for flexibility in your housing arrangement when necessary. If a job takes longer than expected or if you get offered a permanent position after serving as an intern, the corporate housing allows you to stay until you complete the work or you find permanent housing. As long as the apartment is available and the corporate housing company allows it, you could remain in the apartment indefinitely. Many places allow you to rent month to month so you can accommodate any changes in plans.
Most corporate housing is either priced by the week or month, depending on the corporate housing company. On average, the cost per day for corporate housing is $150. Often, corporate housing includes a full kitchen, which will save a business traveler’s employer money by allowing them to cook at home rather than eat out for every meal. When considering the cost of the housing unit, it’s essential to consider any savings, such as making your own food, before deciding if the expense is worth it.
Your employer will pay for the expenses of corporate housing for business purposes. In the case of displacement due to fire or natural disaster, your insurance company will pay for corporate housing. In the long run, corporate housing options are less expensive than weeks or months spent in a hotel room or vacation unit.
As with anything, you need to weigh the pros and cons of corporate housing to determine if it’s the best solution for your situation. Pros of corporate housing include:
You get to feel like you’re living at home without having to move everything to your new location, rather than feeling like you’re living out of a suitcase. Cons of corporate housing include:
Extended stay business trips no longer need to mean living in a cramped space with endless takeout and limited privacy. Corporate housing provides employees with all the comforts of home, including solitude and the space to sprawl out. Ask your company to extend an invitation for a corporate lease apartment on your next business trip.
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