For many national and multi-national companies, traveling is an essential part of doing business. However, lodging prices can be astronomical, especially if your business requires you to be out of town for an extended period of time. Traditionally, professionals (or their companies) have had to eat the costs of hotel lodging for months at a time.
Corporate housing has become an increasingly popular option for people whose work dictates that they stay in cities across the United States and abroad for extended periods. There are plenty of benefits of corporate housing—continue reading to learn what they are.
What is corporate housing?
As mentioned in the introduction, corporate housing is an alternative to staying in hotels and is a great option for extended stays for months at a time. Corporate rentals are luxurious, fully-furnished apartment homes, and they come with many of the same amenities as a hotel suite.
Corporate housing is a great option for an executive or business owner who needs lodging for 1 to 4 months. Not only do you get a great place, but your utilities are included in your rent. That means you only have to make one monthly payment instead of having to worry about getting utilities cut on and off with an apartment.
Plus, corporate rentals come with stylish modern furniture and premium appliances. Additionally, like at a hotel, someone else does the cleaning and handles security!
Who should use corporate rentals?
Corporate rentals are great for executives whose work has them moving to a new city. You can find a great place to live in various major US cities from Metropolitan Atlanta to Seattle and even north of the border in cities like Toronto and Montreal.
Since corporate rentals are already decked with luxury furniture, stainless steel appliances, and new home furnishings, you’ll probably need a storage unit for your own belongings. If your work takes you north of the border, especially in a bilingual city like Montreal, it can be difficult to find the right service providers. However, EZStorIt is a trusted Montreal self storage facility with a reputation for providing great customer service.
EZStorIt provides safe public storage, and they offer both indoor storage units and outdoor storage units. They also offer move-in specials to new customers.
Corporate rentals are also great for executives and their team members who have to travel to different cities to launch and consult on large projects. Corporate housing gives them all the benefits of living in a hotel with the feel of penthouse apartment homes, condos, or even a garden-style property.
Is corporate housing a good investment opportunity?
If you’re an investor and considering expanding your investment portfolio, corporate housing could be a lucrative move. If you’ve been considering building apartment communities, you can get exclusive new customers with the luxury of a high-end home with the customer experience of a hotel.
Part of being a great real-estate investor is being an innovator. Venterra CEO John Foresi has gained a reputation for being an innovator in the real estate market, and he’s someone any investor would be smart to model themselves after.
Turning a new apartment complex or condo into corporate rentals is often more lucrative than renting to traditional renters. Of course, you should always do your due diligence before making any significant investments.
Corporate housing isn’t for everyone.
The most important thing to know about corporate housing is that while it’s amazing living in luxury homes with hotel services and amenities, it’s not for everyone. Even though living in corporate housing can be cheaper than staying in a hotel for an extended period of time, corporate housing still isn’t the most cost-efficient for all.
If affordability is your main concern, you should look for property managers or independent landlords who offer month-to-month leases or even motels in safe areas. However, if a corporate rental fits in your housing budget, there’s no better option.