What is Corporate Housing?
The corporate housing model provides fully furnished apartments rented to workforce travelers for short-term and long-term stays. It is a full-service solution – offering all the standard amenities you would have at home; you just have to bring your own personal items. It typically includes furniture, a full kitchen (or in some locations, a kitchenette), housewares, a TV, utilities for washing and possibly drying clothes (either in the property or in a communal area, country norms dependent), Wi-Fi, etc. Some corporate accommodations also include communal facilities such as an on-site fitness centre and a residents’ lounge.
The minimum stay at corporate housing can vary, but most providers require you to stay for at least 14 to 30 days. Temporary accommodation represents a real alternative to hotels, especially for employees needing to stay for longer periods of time. The reason why corporate housing surpasses hotels is more psychological…hotels are not liveable spaces; you can just stay at a hotel, but you can actually live in a serviced apartment.
The core value proposition of corporate housing
There is no doubt that corporate housing is an invaluable service to employers needing to relocate their employees, but what are the main advantages?
Temporary accommodation is fully furnished and comes with everything you’d need to settle in at home after a day’s work. When settling into a new city, having your own personal space allows you to relax in a comfortable and stable environment where you can cook your own meals or order-in takeaway if you don’t feel like flexing your culinary muscles. It’s your place, so the choice is entirely up to you and how you use it.
The cost of corporate accommodation depends on the location, amenities, and services provided. Apartments in high-demand areas tend to be more expensive, whereas those in more rural or low-traffic areas may be more affordable. Overall, corporate housing apartments can be more cost-efficient than hotels, especially in the long term. Not only that, but, since you’re more likely to be able to chill out and relax in a serviced apartment as opposed to being stuck in a cramped hotel room, you’re more likely to feel refreshed and ready for the next day at work.
Finding a place to rest is often the first thing we do before arriving in a foreign country. We all look for a comfortable place that includes all living essentials. It is essential that employers get this first step right when relocating employees. The certainty of having a place of stay before departing from the home country can provide security and peace of mind to the employee during the relocation process.
Corporate housing provides more services and amenities than a hotel, allowing you to have a more comfortable stay. With a kitchen, laundry essentials, housekeeping, and maintenance services, you get all the comforts of home with the conveniences of a hotel. Having a more regular-sized living space versus a hotel is particularly useful when you’re traveling with your family. This is what sets corporate housing apart – its liveability. The guest can simply arrive with a suitcase and their home is ready for them.
Experience the area
An important advantage of corporate accommodation is that the employee gets to explore and experience the location before deciding on a place to live. Staying in an area temporarily allows the employee to evaluate the atmosphere and balance out the pros and cons of different neighborhoods, communities, and school boroughs.
At Cornerstone, we work with our partners to gain access to an extensive network of first-class serviced corporate apartments. They’re the perfect place to stay when you start your new job or assignment. Your employee will immediately feel at home and ready to focus on their new position. Contact our friendly team to find out more!