The Ultimate Guide to Corporate Housing

Everything You Need to Know About Furnished Corporate Apartments.

Corporate housing is the ideal solution for finding temporary accommodation for business travel or long-term projects. This comprehensive guide will give you all the information you need to make an informed decision about Corporate Housing and short-term housing. We will cover the basics of corporate housing, its benefits, and the factors you should consider when choosing the perfect corporate rental. Additionally, we will offer tips for making your stay in corporate housing as comfortable and enjoyable as possible.

1. What is Corporate Housing?

Corporate housing is a category of temporary, furnished housing designed to meet the needs of business travelers, executives, and professionals requiring a comfortable and functional living space during their work assignments. These properties typically have a minimum rental period of 30 days and are often covered by the company, not the individual. This business-to-business focus distinguishes them from other short-term accommodation options like hotels. Corporate housing providers are insured business entities governed through tenant/landlord leases and regularly pay rent to property owners.

Corporate housing properties come equipped with various amenities and services to cater to the preferences and requirements of their tenants. Some amenities include fully-furnished living spaces, high-speed internet, on-site laundry facilities, and housekeeping services to provide a seamless and hassle-free living experience. According to the Corporate Housing Providers Association, many corporate housing professionals also have industry designations and credentials highlighting their expertise and knowledge, including:

Certified Corporate Housing Professional (CCHP)
Corporate Housing Providers Association (CHPA) company accreditation program
International Serviced Apartment Accreditation Programme (ISAAP) Quality Assessment

Corporate housing emphasizes creating a home-away-from-home atmosphere. This atmosphere is achievable by offering more spacious and comfortable living arrangements. They usually feel more like a home than a traditional hotel room. Corporate Housing often features separate living, dining, and sleeping areas. You usually also get fully-equipped kitchens, laundry rooms, and bedrooms. It’s these small touches that enable tenants to maintain their daily routines.

Corporate housing properties are in convenient and desirable neighborhoods. Their locations ensure easy workplace access, public transportation, and local amenities. You’ll usually be close to grocery stores, restaurants, and recreational facilities. Strategic locations further enhance the appeal of corporate housing. Thus, it’s ideal for professionals seeking temporary accommodation for business purposes.

2. Benefits of Corporate Housing.

Corporate housing presents many benefits that cater to the specific needs of business travelers. Some of the benefits include:

Enhanced Comfort: Corporate Housing offer an elevated level of comfort. For example, a NEST Furnished Living stay provides spacious living areas. Fully-equipped kitchens allow you to save money by cooking and maintaining a healthy lifestyle. A home-away-from-home environment ensures you can relax and unwind after a long day at work—no more feeling confined or boxed-in, as you might in a traditional hotel room.

Cost-effectiveness: One of the most significant benefits of corporate housing. Staying in a hotel for an extended period can become expensive. Corporate Housing is often budget-friendly, especially if you have multiple tenants. You’ll get a lower rental price for overextended stays than a hotel. Plus, employee costs can be lower on food expenses thanks to a stocked and equipped kitchen. Utilities like electricity, water, and internet are part of the rental price.

Flexibility: Corporate apartments can tailor your accommodation & experience to your needs and preferences. You can select your preferred location, ensuring you are near your workplace. Not to mention local amenities and transportation options. There is also flexibility for how long you can stay. Many clients must stay longer than their first lease to complete a job. Extending your stay is easy – no need to fear an unexpected move.

Convenience: Corporate Housing Providers put focus on comfort. This focus on comfort is shown through services designed to make your stay as smooth as possible. Some of those include:

– Housekeeping services: Keeping your living space clean and tidy

– Laundry facilities: No need to go to a laundromat or dingy hotel laundry room.

– 24-hour customer support: Ensuring that any concerns or issues that may arise are addressed.

– High-speed internet: Whether working from home or watching Netflix, this is a must-have.

Corporate housing is the superior accommodation for business travelers. Providing enhanced comfort, cost-effectiveness, flexibility, and convenience, you’ll be glad you chose it over a hotel.

3. Different Types of Corporate Housing.

Corporate housing offers various property types to fit different preferences and needs:

Apartment Communities: Large complexes with multiple units and shared amenities like pools and fitness centers. They provide various unit sizes for different needs.

Condominiums: Smaller, more exclusive properties with upscale amenities and features. They often include perks like private balconies and dedicated parking.

Townhomes: Multi-level properties with more space and privacy than apartments. They have separate entrances and private outdoor areas, making them ideal for those who want a more traditional home feel.

Single-Family Homes: Standalone properties offer the most privacy and space. They are perfect for executives or families needing extended stays with the comforts of a traditional home.

Lofts: These open-plan apartments, typically carved out from renovated industrial buildings, offer ample square footage for work and relaxation. The distinctive architectural features, such as high ceilings, exposed brick walls, and large windows, create an appealing blend of historic charm and modern aesthetics.

By understanding each property’s features, business travelers can choose the best corporate rental for their needs, ensuring a comfortable stay.

4. Factors to Consider When Choosing Corporate Housing.

Skyrocketing hotel costs have extended stay travelers looking for more affordable options. According to Money.com, “the average cost of a hotel in 2023 is up a Whopping 54% Right Now.” The reasons? Tightened supply and higher occupancy. This means less traditional options for extended-stay customers. Thus, corporate & short-term rentals are considered more often, leading many to ask, “What do I need to know to choose a good short-term rental?” We suggest knowing the following five things.

Better Tax Rates: Often (not always), there are no additional taxes or fees as you have with a traditional hotel. This is because there are no hospitality taxes in certain markets if your stay is over 31 days. Many people don’t consider the 15% – 18% tax you’ll pay with a hotel or extended stay hotel, but it can significantly impact price.
Location: Would you prefer a place close to work? Or would you choose somewhere outside of the busy city center? This is usually the first consideration for most shoppers.
Stay Duration: Ensure the property fits your desired stay length. Most of our clients stay six months or more. A hotel is the better option if you’re only in town for a few days.
Budget: Set a price range and find options within it. Remember, utilities and services are often included. A slightly higher upfront cost will save you money.
Amenities: Check for essentials like a kitchen, laundry, and internet. Many have excellent bonuses, like housekeeping and shared facilities like gyms and pools.
Contract/Terms: Most customers will never run into an issue when using a local provider, but it’s wise to understand your lease terms. Are there early termination fees? Can you adopt a pet? Can your family stay? These are all critical questions to ask before signing.

By evaluating these factors, you’ll select a rental that meets your needs for a comfortable stay. Questions? Call NEST Furnished Living at 877-782-1902 today and let us help you find the perfect corporate housing or short-term furnished rental option for your stay.

5. Tips for a Comfortable Stay in Corporate Housing.

Staying in a new place doesn’t have to be boring. Make your corporate housing experience enjoyable and fulfilling with these tips:

Personalize Your Space: Bring personal items like photos and decor to create a familiar environment. Unpack and spread out your stuff – stop living out of a suitcase. This will help make your temporary home feel like your own private haven.
Stay Organized: Keep your living space clean and organized for comfort and productivity. Have a cleaning schedule, designated storage areas, and an efficient workspace for an orderly daily routine.
Utilize Property Amenities: Enjoy on-site amenities like fitness centers, pools, and community spaces. These promote well-being and relaxation and offer socializing and networking opportunities.
Connect with Neighbors: Introduce yourself and join social events to build connections. These connections create a welcoming and supportive environment during your stay.
Explore Your Surroundings: Discover nearby stores, restaurants, parks, and attractions to engage with the local community. This enriches your overall experience and creates a memorable stay.
Traveling with family? No problem: A benefit of corporate housing is the ability to travel with family & pets. Be sure to talk to your local corporate housing provider to see what’s possible.

These tips will help create a comfortable, enjoyable, and stress-free environment that supports your needs during your stay.

6. The Future of Corporate Housing.

The corporate housing industry is adapting to changing needs of business travelers, remote workers, and global nomads. Globalization, shifting work patterns, and technological advances drive this growth. Corporate housing providers will leverage these trends to offer innovative solutions for diverse and dynamic clients.

A key driver shaping corporate housing’s future is the growth of remote work and the gig economy. With more companies adopting flexible work policies, there’s increased demand for remote workers. Many of them look for temporary accommodations when away on assignments. This change in how we work allows providers to diversify offerings and cater to digital nomads. Many of which need reliable internet and dedicated workspaces.

Another trend impacting corporate housing’s future is the focus on sustainability. Providers may face pressure to adopt sustainable practices with climate change and environmental concerns in public discourse. You may see some start to offer eco-friendly accommodations. This could include using energy-efficient appliances and sustainable building materials. It could also extend to amenities like electric vehicle charging stations and recycling programs.

Growing demand for customizable and personalized experiences will also influence corporate housing’s future. As consumers seek tailored solutions, providers must adapt their offerings. This may involve providing a more comprehensive range of property types, amenities, and flexible rental terms.

They may also emphasize fostering community and well-being among tenants. By incorporating shared spaces and organizing social events, providers can create opportunities for residents to connect, network, and build relationships.

The future of corporate housing will be characterized by increased customization, technological innovation, commitment to sustainability, and a focus on community building. By embracing these trends and adapting to clients’ evolving needs, corporate housing providers can thrive in a competitive market and offer attractive, innovative solutions for a diverse and growing customer base.

7. Corporate Housing for Travel Nurses (and locum tenens.)

Travel nurses have enough to worry about without a sub-par housing situation. Most can find comfortable, affordable, and convenient short-term rentals with corporate housing. These rentals meet healthcare professionals’ needs and are cheaper than extended-stay hotels.

Short-term rentals help travel nurses save money & time. Access to a furnished kitchen and laundry services is paramount. Especially if you find yourself needing to wash scrubs or meal prep. Travel nurses & locum tenans are typically price conscious, which makes corporate housing an appealing option when they consider utilities are included.

Short-term rentals also have a high-touch booking process. With a hotel, you’re left wondering if the one you’re booking is safe and comfortable. Meanwhile, a local corporate housing provider can ensure your needs are met.

Short-term rentals help nurses maintain a work-life balance. They come furnished, so nurses can settle in and relax. Nurses we speak to mention they get the tasks other nurses don’t want to handle – making them extra thankful for high-touch service. Some clients also take advantage of housecleaning services. It’s one less thing to do after a long week at work. With this, they don’t have to sacrifice their limited free time and can recover. Imagine being able to experience the local culture without stressing about chores.

To that end, Corporate Housing is customizable to fit nurses’ preferences. They can choose properties close to work or with specific amenities. Some want a cozy space close to downtown. At the same time, others enjoy a larger area with room to host new friends.

Short-term rentals are flexible. Nurses can change their stay length based on their needs. This removes the pressure of long-term leases so that they can focus on their careers and personal growth.

8. Corporate Housing vs. Hotels.

Corporate housing and extended-stay hotels are popular choices for those needing long-term lodging. Both have unique benefits, but corporate housing offers advantages that make it a more appealing option. Let’s break it down.

Corporate housing provides fully-furnished spaces with separate living, sleeping, and dining areas. These accommodations feel more like private residences than hotel rooms, ensuring comfort and relaxation. The kitchens are equipped and come with appliances & cookware, allowing guests to prepare meals, manage their diet, and save money by not eating out frequently. In contrast, extended-stay hotels typically only have kitchenettes with limited appliances. See the chart below for an example of the difference in space.

Corporate housing also offers flexible lease terms, enabling guests to stay for weeks, months, or years, and often negotiate better rates for more extended stays. While extended-stay hotels have daily, weekly, and monthly rates, they can be expensive, with limited room for negotiation.

Unlike extended-stay hotels with more frequent interactions, corporate housing provides more privacy and fewer disturbances from housekeeping or other guests. You won’t have to cross paths with someone in a hallway or dodge an intoxicated guest.

Extended-stay hotels offer daily housekeeping, laundry facilities, and 24/7 front desk staff for convenience and assistance. Some corporate housing providers, like NEST Furnished Living, can include house cleaning services. Extended-stay hotels may provide complimentary breakfast, fitness centers, and other amenities. However, the food quality is usually low, and most guests prefer cooking healthy food.

Despite both catering to long-term guests, corporate housing stands out with its home-like atmosphere, full kitchens, and lease-term flexibility. These factors make it an attractive, comfortable, personalized, cost-effective option for extended stays. Understanding each option’s unique advantages and disadvantages allows travelers to make informed decisions to suit their needs and preferences.

9. Conclusion.

Corporate housing is a versatile and comfortable accommodation solution for business travelers, interns, travel nurses, or others seeking serviced apartments. By understanding the various property types, benefits, and factors to consider when choosing corporate housing, you can find the perfect temporary home-away-from-home that meets your needs and expectations.

10. Need Corporate Housing in Virginia?

If you are looking for corporate housing in central and western Virginia (and beyond), look no further than NEST Furnished Living Solutions. With a wide range of high-quality corporate housing options and exceptional customer service, NEST Furnished Living is your go-to provider for short-term housing solutions in the area. For rates and availability, call NEST Furnished Living at 877-782-1902 today and let us help you find the perfect corporate housing option for your stay.