Who Uses Corporate Housing?
For the longest time, finding lodging while transitioning to a new area or taking a business trip was relatively simple. You looked for a hotel or motel within your price range near where you needed to be and stayed as long as was necessary.
Now though, with the emergence of the internet and cell phone apps, the selection pool for lodging locations has grown exponentially. Continue reading about corporate housing and its purposes.
Due to the recent popularity of Airbnb, it might seem like the logical no-brainer for anyone looking for short-term housing in a business setting. However, the service’s notoriety doesn’t necessarily make it the best option in this situation.
Some Airbnb rentals charge by the night, which is convenient for weekend getaways or spring break excursions. However, many Airbnb hosts even including some of our options offer discounts for longer term stays. If you’re looking for a Tampa Airbnb listing for a longer stay, consider our spacious Tampa home.
What Is It?
Any fully furnished apartment, condo, or house that can be rented out for long-term temporary stays qualifies as corporate housing. This kind of lodging is very similar to short-term housing. For example, Airbnb, but usually charges by the week and is more easily accommodate longer stays. Prices go up based on the size and location of the place.
However, the price per day tends to go down as the length of the stay gets longer. According to Greystar, the average length of stay for their corporate housing residents is 67 days, and some corporate housing communities set 14-day or 30-day minimum length of stay requirements. By its very nature, this housing isn’t necessarily for people taking quick vacations, so who is using it most?
Who Needs Corporate Housing?
The title “corporate housing” speaks for itself here. For the most part, traveling employees use this housing when their company doesn’t want to pay for a long-stay hotel room. Interns who have to relocate for a summer or a semester are often provided corporate housing for the length of their internship.
Employees who are relocating also tend to use this housing as a middle ground while they sell their old place. Plus, it gives them time to buy a new home. About 40% of extended stays are the result of relocation according to the Corporate Housing Providers Association.
This type of housing isn’t only designated for business travelers though. It can be a suitable stopgap for people or families as they transition from one location to another. It can also be helpful for traveling medical students on lengthy assignments.
Where Is It?
The easiest way to find corporate housing is through a simple internet search. There are plenty of readily available local or large-brand options in and around cities all over the world. Whether you want to live in a downtown area or a quieter suburb, there are countless lodging locations to choose from.
If you’re actively searching for this type of housing in the Tampa, Orlando or Melbourne area, consider reaching out to Nika Corporate Housing. Nika Corporate Housing is actually one of our tenants and they provide short to long term housing solutions to meet all sorts of temporary housing needs.