If you are a digital nomad or a businessman looking for home-like accommodations in a new city, corporate housing may be just right for you.
What is corporate housing, and how does it work?
According to the Corporate Housing Providers Association (CHPA), corporate housing refers to fully furnished temporary housing, typically in an apartment setting. These apartments are made to provide homely amenities like furniture, water, cable, etc., at a single all-inclusive price for an extended period of at least 30 days.
Corporate housing goes by many names, and you may have heard of it in different terms, like furnished apartments, serviced apartments, or executive suites. Regardless of the term, the main goal is to provide you with a home-away-from-home experience.
In the rest of this blog post, you will learn how corporate housing works in Canada, what features to expect from a corporate housing apartment, the benefits of staying in corporate housing, and how to book an apartment from CorporateStays.
Key Takeaways
- Corporate housing service gives you access to a fully furnished, homelike apartment for at least 30 days.
- Corporate housing apartments are usually located in prime locations, fully furnished, and equipped with basic utilities, housekeeping, and security services.
- Based on long-term compounding costs, corporate housing is a better option than short-term accommodation options like hotels and AirBnB.
- When choosing a corporate housing provider, pay close attention to key indicators like customer reviews, services offered, and location range.
- Corporate Stays is the best corporate housing provider on the market, with apartments in various cities across Canada.
How Corporate Housing Works in Canada
According to IBISWorld, the corporate housing and apartment rental industry in Canada has witnessed 2.1% growth so far in 2024 alone. This is largely due to the recent increase in immigration, business travel and short-term work assignments.
The corporate housing industry closes the housing deficit and provides reasonable-cost, home-like accommodation and amenities for extended periods. The average 30-day cost of a serviced apartment currently stands at around $3000 CAD, with no extra charges for amenities.
At CorporateStays, our customers can book furnished short- or long-term apartments online, pick a check-in date, and move in without any overcomplicated procedures.
Features of a Standard Corporate Housing Unit
If you are wondering what to expect from a corporate housing unit,? We’ve got you!
Corporate housing apartments have different amenities, varying from one corporate housing provider to the next. Here’s a list of features to expect from a standard corporate housing unit:
- Fully Furnished Apartments
- Utilities and Wi-Fi included
- Housekeeping Services
- Location and Accessibility
1. Fully Furnished Apartments
Corporate housing units come fully furnished and fitted with all the gadgets and appliances necessary to replicate a homely atmosphere. Furniture, kitchenware, bed linen and even decorative pieces are common in serviced apartments.
2. Utilities and Wi-Fi included
Standard corporate housing units are equipped with utilities like cable TV, water, heating, electricity, and Wi-Fi as part of the package.
This removes the need to make separate payments for necessary day-to-day utility requirements.
More luxurious serviced apartments may provide access to additional facilities such as an in-house gym, residents’ lounge, and even coffee/bookshop attachments. Access to these additional utilities may come at an added cost.
3. Housekeeping Services
Regular daily housekeeping and cleaning services are part of most corporate housing packages. This ensures that you enjoy your stay in a clean and hygienic environment at no extra cost or effort.
4. Location and Accessibility
Most corporate housing facilities are located close to local attractions like city centers, business districts, gyms, and restaurants, with easy access to transportation and commuting services like the subways, roads, and bicycle rental services.
5 Benefits of Staying in Corporate Housing
What’s so special about corporate housing? Here are some benefits that make corporate housing such an attractive long-term stay option:
- Cost Effectiveness
- Comfort
- Privacy
- Local Living Experience
- Flexible Lease Terms
1. Cost Effectiveness
According to CHPA, businesses that utilize corporate housing can save up to 30–50% on accommodation costs compared to traditional hotel stays.
For extended stays of over a month, furnished apartments offer better value for money and lower monthly rates than the sum of daily rates for stays in other short-term accommodation options.
Corporate housing also saves money on eating out and visiting the laundromat by providing access to a kitchen, necessary kitchenware, a washing machine, and a laundry room.
2. Comfort
In line with the home-away-from-home idea, corporate housing apartments have separate living units, bedrooms, full kitchens, and other essential amenities. Thus providing you with all you need to have a comfortable stay.
3. Privacy
When compared with hotels and other accommodation options, furnished apartments give you a more personalized and private lodging experience, prioritizing your convenience and access to a home-like environment.
4. Local Living Experience
Corporate housing apartments are sited in areas that allow you to live like a local throughout your stay. If you have an extended stay period, corporate housing is your best shot at proper integration into the local community.
5. Flexible Lease Terms
Corporate housing offers flexible lease terms ranging from a few days of stay to weeks or months. Most providers also grant you the option to shorten or extend your stay.
However, it is important to discuss these policies and agreements beforehand to avoid extra charges or penalties.
Corporate Housing vs. Other Short-term Accommodation Options
Corporate housing is not the only temporary housing option on the market. Short-term options like hotels and AirBnB are also popular choices. How does corporate housing perform in comparison with these other options?
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Corporate Housing vs. Hotels
Hotels are great accommodation options as they offer high-level professional hospitality services. However, they pale in comparison to corporate housing on the basis of personalization, privacy, amenities, and long-term cost.
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Corporate Housing vs. AirBnB
AirBnB is relatively new to the hospitality scene and is a good accommodation option that involves individuals renting out their homes to guests for a short period of time.
Corporate housing is a better option, as AirBnB has varying quality of service and many also give you the feeling of being in someone else’s private space.
A brief overview of the differences between these options can be found in the table below:
| Furnished Apartments | Hotels | Airbnb | |
| Convenience | Home-like environment | Full service and amenities | Unique stays, variable service |
| Space | More living space | Generally, less space | Varies by listing |
| Average pricing | $1,500 – $3,000/month for an all-inclusive plan and access to basic day-to-day amenities | $100 – $300/night just for reservations.
Additional costs may be incurred for other amenities. |
$50 – $200/night
Additional costs may be incurred for other amenities. |
| Ideal for | Long-term stays | Short-term stays | Varies by need |
For a more detailed comparison between corporate housing and other short-term rental options, Click here.
Choosing the Right Corporate Housing Provider
Picking out a provider to book a corporate housing unit from can be tricky. We advise that you put a lot of intention and research into this process. Here are some of the key indicators to look out for when making a choice:
- Customer Reviews
- Services Offered
- Location Range
1. Customer Reviews
Before choosing to book an apartment from a corporate housing provider, we advise that you go through their customer reviews. Providers with better reviews and a strong track record in the industry are your best bet for a seamless stay at a serviced apartment.
2. Services Offered
We advise you to take a good look at the offers and listings corporate housing providers have and match the offer specifications, amenities, and location to your budget and needs.
3. Location Range
Corporate housing providers with a presence in a wide number of locations, both local and international, have a better reputation to preserve and, hence, a set level of service quality to maintain.
Lucky for you, corporatestays.com fits all these bills perfectly:
How to Book Corporate Housing from CorporateStays.com
As with other corporate housing providers, booking an apartment from us involves a booking process and payment/lease terms.
Booking Process
Booking an apartment from us involves a pretty straightforward process:
- Pick out your preferred location
- Select an apartment listing
- Make your reservation.
We allow you to take a virtual tour of the apartment with our “Watch Video” option. You also get a detailed overview of the area and any side attractions you may want to indulge in during your stay.
Book a furnished rental apartment and enjoy luxury amenities and a luxurious lifestyle.
Payment and Lease Terms
We lease out our apartments on a 30-night basis, with set rates for different apartments and locations. Prices are attached to each apartment listing.
Although our lease prices are rated on a 30-day basis, our lease terms are flexible with policies that govern early termination or stay extensions.
Take a look at the terms and conditions that govern our lease and payment procedures. .
Conclusion
Corporate housing is a service that provides you with a fully furnished living space over an extended period of time—usually 30+ days. This gives you access to a homely experience in a new location at a competitive price.
CorporateStays is your surest bet to get affordable corporate housing anywhere in Canada.