What is the difference between corporate rentals and regular rentals?
Corporate rentals are a type of rental property that targets a specific segment of travelers who have to be away from home for an extended time. Corporate property rentals help create a more comfortable, less expensive, better-situated, extended stay than a hotel room.
On average corporate housing costs around $143 a day in the U.S., which is cheaper than an average nightly hotel rate. These real estate properties are also higher quality and come fully furnished, with amenities you would not usually find in a hotel, such as a washer and a dryer.
Corporate rentals should not be considered the same as other short term rentals, such as Airbnb or Vrbo. Corporate rentals serve high ranking clients, so you can count on them being complete and well maintained for long term travelers.
Other short term rentals, such as Airbnb, require constant follow up with guests before and during their short stay. Corporate rentals require less follow-up because tenants usually stay anywhere from one to three months, which reduces the number of annual tenants and also the possibility of leaving any damages to the property.
What are the benefits of choosing a corporate rental?
There are many benefits to choosing a corporate rental rather than a short term rental, hotel, or traditional apartments. Flexible lease terms are a significant benefit to both the guest and the host. A corporate housing lease is typically in the name of the corporate housing company or provider. The company will then sublease to its clients to utilize as the tenant. This allows companies to use the furnished housing for their employees and use the apartment without committing to a full 12-month term, between 30% to 50% cheaper than a hotel.
Another advantage of corporate housing is full furnishing. While hotels may not offer a kitchen, laundry facilities, or even a garage, these homes typically do. Usually, corporate housing rentals have all of the furniture, kitchenware, cookware and dishes, linens and towels, electronics, and other items already set up for you so that you can live comfortably. As opposed to moving all of your personal belongings, you will only have to bring your clothes and necessary items, which can significantly reduce the effort and cost of moving to a new town for a new job.
The third advantage of choosing corporate housing is that it is typically all-inclusive instead of paying for separate utilities such as cable or internet. Usually, the corporate housing provider will pay all of the bills for you and provide the apartment at one flat rate that will cover all costs.
