Not all business trips can be squeezed into a weekend or a week-long visit to a branch office. Very often, an executive or project manager must remain away from the office for weeks or months at a time. Staying in a cramped hotel room on the outskirts of the city is not always the best arrangement for entrepreneurs or executives. That is why many private housing offers a special service known as corporate housing.
Corporate housing is generally designed to be a temporary or short-term arrangement. Units available for corporate housing may vary from extended stay suites in a hotel to fully furnished condos or apartments. Many housing companies are located in the heart of major cities, thereby eliminating the need for commutes in unfamiliar environments. Finding an apartment to rent in New York May be problematic, but corporate housing is almost always available for short-term tenants.
The cost of apartments may be significantly higher than comparable private rentals, but often includes utilities and other services. The cost of corporate housing is generally negligible compared to the alternative long-term temporary location for a client. Most housing is also fully furnished, and housekeeping services are often available.
The benefits of corporate housing are numerous, beginning with the improvement of living conditions for visiting executives and managers. After a productive work day, guests can relax at ease, in a home-like environment, rather than a sterile and impersonal hotel room. Spouses and children can often accompany a business travelers with companies housing privileges. Customers can store and cook their own food, thereby eliminating the need for costly outside meals. Visiting executives can also receive guests or hold private meetings outside the office.
Corporate housing is usually offered by real estate agencies and other companies that lease property. Extended-stay hotels and suites usually advertise their suitability for corporate housing and business. It may be particularly useful for working in a rental agency to obtain the best conditions for temporary housing or short leases. Private property owners may be more reluctant to offer such arrangements because they would not be assured of occupation after the visit of tenants returned home. Corporate housing is usually a lucrative source of income for rental agencies, especially in expensive cities like New York City and Washington, DC.