Corporate Housing is short-term accommodation provided for professionals and individuals in need of provisional lodging. It’s not far-fetched that you could have heard the words “Executive apartments or Service apartments” thrown around, especially in developed areas; they are types of Corporate Housing.
Since 2023, the demand for corporate housing services has grown astronomically. The industry serves over ten million customers around the world, including business travelers, relocating employees, partying youths, tourists, and so on.
The rise in demand for this type of service can be attributed to the numerous benefits corporate housing offers. These include comfort, flexibility, aesthetics, cost savings, and more. You are not bound by the permanence of your house anymore; you can travel light, ensuring the key things go along with you.
Corporate housing is usually fully furnished to give you a “home away from home” feeling. Provisions are made in the form of Housewares, furniture, amenities, water, electricity, phones, cable, etc. All these provisions differentiate corporate housing from your usual hotel lodging.
Corporate housing is specifically designed to replicate the ease, comfortability, and security your home provides. Here are the top 8 types of corporate housing services you can enjoy.
Key Takeaway
There are various reasons you would require a Corporate Housing Service, either work or personal reasons. Whatever it is, Corporate Housing is an advised service for anyone looking for a cozy accommodation experience outside their known environment. Security, amongst other advantages, stands tall.
As you go on, take note of the following things:
- The different corporate housing types.
- The best option for your purpose
- Corporate Housing with CorporateStays
- top benefits corporate housing offers
- How Corporate housing works
6 Types of Corporate Housing
These types of corporate housing are grouped based on the feel they give, time allowed and total experience. For the particular service you require, this list will inform you of what to expect.
- Extended-stay hotels
- Corporate Apartments
- Furnished Condos
- Executive Suites
- Serviced Apartments
- Vacation Rentals
1. Extended-stay Stay Hotels
Unlike Corporate Apartments or Executive suites, the service of extended-stay hotels can be easily sought. A usual hotel plan guarantees you a day’s service if you would like way more but don’t have the financial capability of Corporate Housing, you can try this out. hotels
It is designed for longer stays, providing you the normal hotel experience without the convenience you’d get at home. It is ideal for short personal trips. Services like laundry facilities, kitchen service and workspace areas are included.
2. Corporate apartments
You would find more corporate apartments in residential areas. They are specifically designed for short-term stays. Whether it is a business trip, a family holiday, or personal exploration, corporate apartments keep you in the feel of a residential area. It introduces you to a new environment.
Due to its strategic location and the home-like atmosphere it creates, it is a highly sought-after package in corporate housing. They provide all the comforts of a regular apartment, including full kitchens, living spaces, and laundry facilities.
3. Furnished Condos
Recently, more private individuals have been going into the corporate housing business. They lease out their fully furnished apartments to customers for short-term stays. These houses follow an essential corporate housing management checklist to ensure you get the best experience.
This option is best for those who are looking for a personalized and homely experience. They come fully equipped with furniture, kitchen appliances, and household items, so you have nothing to worry about.
4. Executive Suites
The letter “E” puts the expensive in executive. The executive suite ranks as one of the most expensive parts of corporate housing. Its services are not limited to your usual home needs; it caters to customers’ secondary needs, such as concierge services, fitness centers, and business facilities.
Executive Suites is perfect for business meetings of top professionals or high-level employees on temporary assignments due to the privacy and exquisiteness it provides. They are intensively furnished and usually located in expensive areas.
5. Serviced Apartments
A serviced apartment merges the privacy and comfort of a home with the convenience of a hotel. With this, you could decide to stay for the short term or long term and still get your money’s worth. It’s a perfect symbiosis.
Though not as expensive and upscale as an Executive suite, It is also fully furnished and offers extra primary and secondary needs like housekeeping, concierge service, and maintenance
6. Vacation Rentals
Vacation rentals also fall under Corporate Housing because they provide accommodation to tourists and leisure travelers, top company professionals and many more.
You can get Vacation Rental services on popular platforms like Airbnb, where they enlist furnished homes or apartments for short-term stays, providing a comfortable and flexible accommodation option.
Corporate Housing is the general name for all these housing services. Those particularly focused on delivering short-term housing services are known as short-term rentals. There is a premise going around stating that short-term rentals are different from corporate housing.
While that is true, short-term rentals are still a service type under corporate housing. Here is a table that effectively summarizes our corporate housing types.
| Types of Corporate Housing | Description | Key Features | Ideal For | Average Pricing |
| Extended-stay Hotels | Longer stays with hotel services but less home convenience. | Laundry, kitchen service, and workspace areas | Short personal trips | $80-$150 per night |
| Corporate Apartments | Short-term stays in residential areas have a home-like atmosphere. | Full kitchens, living spaces, and laundry facilities | Business trips, family holidays | $3,000-$7,000 per month |
| Furnished Condos | Personalized, fully furnished apartments by private owners. | Furniture, kitchen appliances, and household items | Personalized, homely experience | $2,500-$6,000 per month |
| Executive Suites | Expensive, luxurious suites with additional services. | Concierges, fitness centers, and business facilities | Business meetings, top professionals | $400-$700 per night |
| Serviced Apartments | Combines home privacy with hotel convenience. | Concierge, fitness centers, business facilities | Short- or long-term stays | $100-$250 per night |
| Vacation Rentals | Short-term stays via platforms like Airbnb. | Furnished homes or apartments | Tourists, leisure travelers | $100-$300 per night |
Types of Corporate Housing
These prices vary based on factors such as:
- Location
- Amenities
- Duration of stay
- Service provider’s discretion
These factors could either lessen or increase the prices of these corporate housing types. Whatever the price, its important that you get your money’s worth.
How Does Corporate Housing Work?
Whether short-term or long-term, this service is set to house people and provide an optimal experience. The time range depends on what the customer wants and what is available. It could range from a few weeks to many months.
Requiring the service of corporate housing can look tedious and unpredictable but that’s not true. The steps are listed below.
- Booking
- Move-in
- Living Experience
- Billing
- Move out
1. Booking
There are some specialized providers, real estate agencies and online platforms that provide this service. An example of an online platform providing adept service is CorporateStays. They offer personalized corporate housing solutions with fully serviced apartments. Their parents are available for rent in prime locations around the world.
Through these different platforms, you can book their service. It’s a simple, three-step process to get you ready.
- Select a Property
- Pick stay duration
- Finalize the agreement.
This three-step process matters when getting a corporate housing service.
2. Move-In
After booking, you can move into the property on the day that was agreed. Failure to come on that particular day could result in an itchy business feeling between you and the service provider.
On the agreed-upon day, the apartment would be suitably furnished to fit your demands and payment, with all necessary furnishings and amenities in place.
3. Living Experience
Get comfortable once you move in because you have your space for the agreed-upon period. At that point, you are the master of the house, with all your needs readily taken care of. You may get accommodation that isn’t what was promised; there is always room for cancellations and complaints. Check out these functions to improve your overall experience.
Enjoy your stay!
4. Billing
Each service provider, online platform, or real estate agency charges for its service differently. They offer flexible payment options for customers, including weekly, biweekly, or monthly.
The cost varies depending on your total package. The higher your demands, the steeper the price.
5. Move-Out
Understandably, you are having a great time at your latest abode but you still have to move out. Most Corporate housing users favor the short-term because the longer you stay, the less cost-effective it becomes.
Any addition to the agreed-upon date of moving out would demand extra charges from your pocket. During moving out, while it seems thoughtful to leave the place in a clean state, it is not compulsory. Part of the reason many favor corporate housing is the ease and convenience it brings. Skipping chores is one of them.
Simply move out on the agreed date and let the provider handle the cleaning and preparation of the property for the next occupant.
Benefits of Corporate Housing
According to the CHPA, businesses that utilize corporate housing can save up to 30–50% on accommodation costs compared to traditional hotel stays. This is because corporate housing offers an all-in-one package, thereby reducing additional expenses.
The financial advantage is not the only benefit, there are other benefits, which include;
- Cost Effective
- Comfortability and Convenience
- Flexibility
- Privacy and space.
1. Comfortability and Convenience
The market for corporate housing might have seemed like a bad idea years ago but we can agree there is an increasing sweet spot for it. Everyone places their comfort above all. This service provides a comfortable and convenient setting to host their customers.
The thoughtful process put into the furnishing and setting up is obvious from the inclusive services provided.
2. Flexibility
The flexibility of payment on the service provider’s part and flexibility of movement on the part of the customer make corporate housing a great idea. Most service providers allow you to extend your stay as you like. The payment is also understandable to place you under Zero pressure.
With this, you can focus on the task at hand with less worry on your accommodation.
3. Privacy and Space
Privacy has different levels. Some work assignments can require simple hotel accommodations, while others demand paramount seclusion from disturbance. Privacy and Space are part of the total package; they all contribute to the overall experience.
The most needed benefit of corporate housing is the adequate homely feeling it mirrors. All these benefits are a good indication of why this service continues to blossom.
Corporate Housing on CorporateStays
At CorporateStays, we infuse creativity and culture into our service. We offer personalized corporate housing solutions with fully serviced apartments. Our services are tailored to accommodate your main and secondary needs. Here, customer satisfaction is paramount.
Our apartments are location-specific, positioning themselves in exquisite places in prime cities to deliver convenience, ease, and privacy, amongst other things. They also support tourists and travellers with exceptional planning and setup. Check here to learn more about CorporateStays.
Conclusion
If you are in need of temporary accommodation as a business traveler, a relocating employee, or someone undergoing a home renovation, corporate housing is the perfect package for you. Everyone dreams of having a fully furnished home. It offers a seamless and stress-free living experience.
