Misconceptions About Leasing A Corporate Apartment

One of the fastest-growing segments of the “hospitality” market is corporate housing. It remains largely undiscovered by many of those who are best-suited to its use. But the practice of leasing a fully furnished condo or apartment is growing. More than ever, people who need a temporary home, whether because they are on vacation or in transition after selling their previous homes, are looking to corporate housing. The amenities that come with it far outstrip those provided by a conventional hotel.

Although more consumers are warming to the idea of leasing a corporate apartment, condo, or townhome, most hesitate. The concept is new and unfamiliar. Moreover, a number of misconceptions about the practice continue to circulate, causing many people to dismiss it.

Our goal in this article is to clarify – and where appropriate, completely debunk – a few of the myths surrounding temporary housing. Doing so will allow you to make an objective decision regarding whether it is the right choice for you and your family.

“Only Executives And Employees Use Corporate Housing”

Traditionally, corporate housing was used by companies to accommodate employees who needed to travel for business. Such travel was done for meetings, temporary assignments, and by those who were relocating. Companies contracted with property owners to reserve units specifically for their use. This gave them more planning flexibility, and did so at a lower cost.

Over the last ten years, the market for corporate housing has changed. Companies that once sent employees abroad on a regular basis are doing so less often today. Downsizing has also had an effect. Housing companies have responded by opening their properties up to the public. The apartments, condos, and townhomes can now be enjoyed by anyone who needs them.

Are you traveling for work? On a vacation? Relocating for the summer? These and countless other reasons might warrant leasing furnished housing. The most important thing to remember is that anyone can do so, not just traveling executives and employees.

“It Is No Different Than Staying In A Hotel”

There are significant differences between staying in a hotel room and leasing a corporate apartment. One of the most noticeable concerns the amount of space available to you and your family. A typical hotel room offers approximately 300 square feet. There’s enough room to sleep, shower, and prepare for the day, but not much more. If you’re traveling with companions, the room can seem very confining. By contrast, furnished housing usually offers at least 700 square feet, and often much more. With more space, it’s easier to relax and enjoy yourself.

Another major difference involves the amenities that come with the property. In a standard hotel room, the amenities are sparse. If your room comes with a refrigerator, it is likely to be small. Few hotels offer their guests stoves and ovens. Guests are instead encouraged to eat at nearby restaurants. Corporate housing comes with a full-sized refrigerator, stove, oven, and plenty of cookware. It also comes with a personal washer and dryer, eliminating the need to find a laundromat or pay for drycleaning. Additionally, you’ll be able to enjoy high-speed internet access, cable TV, and countless other comforts.

In the end, staying in a furnished temporary home is like being in your real home. That is the way it is designed, and the reason it is located in a residential setting. A hotel room cannot compare at that level.

“Corporate Housing Costs More Than A Hotel Room”

It’s tempting to assume that leasing furnished housing costs more than staying in a hotel. After all, it offers more than twice the space and is filled with amenities that a hotel is unable to provide. It’s also quieter since long-time residents live nearby. Despite these benefits, however, the cost is actually lower. Over a month’s time, you might spend a thousand dollars less in a corporate condo than you would while staying in a hotel.

Many people find this to be the most surprising aspect of leasing furnished housing. Given its numerous advantages, it is usually assumed to cost more. In fact, it costs less.

If you have yet to experience staying in a fully outfitted apartment or condo while traveling, don’t be dissuaded by the misconceptions above. You may discover there’s little reason to reserve hotel rooms down the road.