The first thing that probably springs to mind when you hear the word “corporate housing” is a businessman in a business suit, briefcase in one hand and a plain black suitcase in the other, apparently on a business trip and checking in apartment.
Corporate Housing isn’t just for working professionals, it’s also for those looking for a short-term rental, whether exploring a new location before relocating, doing an internship for a few months, or simply moving between houses. Therefore, a corporate apartment may be the right place for your needs. let’s find out
What are company apartments?
A corporate apartment or corporate housing is a short-term rental designed for business travelers, independent contractors, students, and those on long-term vacations, among others. They are a temporary housing option that gives people the opportunity to rent a fully furnished apartment for a short period of time.
Housing companies usually offer potential tenants flexible, short-term leases. This means you are not locked into a long-term lease, especially if you only live in an area for a few weeks or months. These units are fully furnished apartments, so there is no need to buy or rent furniture for the room. Additionally, operating cost are often included in the monthly rental costs.
What are the differences between corporate housing and furnished apartments?
Corporate housing and furnished apartments are similar in many ways, but have minor differences. Both are fully furnished with common household items such as beds, sofas and cutlery to name a few. They also offer short-term rent Options ranging from weeks to months.
However, furnished flats There are many variations – fully furnished, furnished and semi-furnished, meaning how much furnished the apartment is. Corporate Housing offers everything you need for your short-term housing option. A furnished apartment may also give you the option of a longer lease, typically longer than two to three months, as opposed to corporate housing which is for shorter stays.
Can anyone rent a “company apartment”?
Yes, anyone can rent a corporate apartment even if you are not on a business trip. While they may initially appeal to business travelers, this short-term rental option may suit anyone deciding whether to move to a city, stay in an area for an extended vacation, or for other reasons.
Reasons for renting a company apartment
Aside from the obvious business travelers, there are many other people who can benefit from a corporate housing option. For example if you are a college intern Seattle, WAfor the summer, this can be a great option that you should rather consider Subletting a unit or rent an unfurnished apartment. If you’re new to a city and deciding where to live, you’re somewhere in between selling your house and are buying a new home or have been displaced by a natural disaster, this temporary housing option can be a good option.
Pros and cons of corporate housing
No matter what types of apartments Whether you are looking for a short-term rental or a long-term lease, there are pros and cons for everyone. And corporate housing is no exception to these pros and cons.
Benefits of corporate housing
Flexible: More flexible than traditional apartments, corporate housing offers short-term leases from daily, weekly to monthly. If you’re only staying in an area for two weeks, this can be a good choice.
Less expensive: Compared to long-term vacation rentals, extended-stay hotels, or renting an apartment for longer than necessary, corporate housing can be a more cost-effective decision. And if you’re moving to one area or between two homes, you don’t have to consider moving expenses, furniture purchases, and more.
Ready to move in: Regardless of your situation, you don’t have to worry about furnishing one of these apartments. You have all the comforts of home, from a fully equipped kitchen to a furnished bedroom and living area.
Centrally located: Many corporate housing communities are located in city centers, in business districts or in popular neighborhoods. This can be especially handy if you’re renting an apartment for a business trip or just exploring a city before deciding to move.
Disadvantages of corporate housing
Apartments of all kinds have their downsides, including short-term rentals. So let’s look at some of the downsides of corporate housing options.
Expensive: Because these apartments are fully furnished and have all the amenities amenities, they will probably be more expensive than standard apartments. However, if you’re looking for short-term rentals that aren’t long-term hotels, then this probably isn’t too much of a disadvantage.
Short term rental options: Depending on your reason for staying in corporate accommodation, this may not be an issue. However, if you are unsure how long you will be staying in a city or if you need to extend your lease, this may not be an option. Chances are that another tenant will rent the unit after you move out. These units are considered temporary accommodation, so you may not be able to renew your lease if you need to stay longer.
Recurring moving costs: If you move a lot, test renting in different parts of the city, rent corporate housing or even fully furnished apartments, the costs can quickly add up.
Sign the rental agreement unseen: In most cases, you sign your rental agreement unseen, making the unit yours before you arrive at your destination. Similar to booking a hotel room, you may only have an idea of what the space looks like from online photos, 3D tours, or possibly a video tour with the leasing agent or landlord. Make sure you ask questions to avoid potentials rental fraud before signing the lease.
How to find company housing in your area
Corporate housing is fairly easy to find, much like finding a furnished apartment. And Redfin can help you find one. Here’s how.
1. Go to Redfin.com and click on “Rent”. In the search bar, type either the city name or zip code (e.g. Chicago, IL) where you want to start looking for a company apartment. Press enter.
2. At the top of the next page, you will see “All Filters” on the right side. Click on it.
3. Scroll to the bottom section that says Amenities. Select “Furnished” and then “Short Term”. Press “Show All Houses”. That’s it. All apartments that meet the basic criteria for corporate housing will be displayed and you can start your search.