As the temporary housing industry continues to grow, more options become available to those relocating or seeking corporate apartments. Mobility’s “Diverse Choices for Temporary Corporate Housing” thoroughly explores the temporary housing options that are available in several top markets, such as Atlanta, Boston, Washington, D.C., and Minnesota. The article also goes into detail about the differences between the temporary housing and the extended stay hotels. Check out the entire Mobility article.
Posts Tagged 'corporate apartments'
Tags: Atlanta, Boston, corporate apartments, Corporate Housing, Corporate Relocation, Corporate Travel, Extended-Stay Hotel, Minnesota, Mobility, Temporary Housing, Washington D.C.
Tags: California, corporate apartments, Corporate Housing, hotel, Las Vegas, Maryland, New York, Orange County, relocation, rent, San Jose, Temporary Housing, Washington D.C.
For months, U.S. vacancy rates have been increasingly high across the board. In July 2009, apartment vacancy rates hit a 22-year high during what is usually the peak season for leasing. Although it was expected that those unable to afford homes would turn to renting, the overwhelming amount of job losses led to high vacancy rates. The positive aspect for those in the market to rent is that rents are falling faster than they have in over a decade. The most drastic fall in rental rates has affected the markets of New York, San Jose, Las Vegas, and Orange County California. While some markets, where unemployment rates are not as high, have seen a small growth in renting rates, such as in suburban Maryland and in Washington, D.C.
So what does this rental environment mean for corporate housing? While the corporate housing industry cannot completely escape the weak economy, corporate housing occupancy has generally remained high because providers can remove and add units according to demand. Also, temporary housing is more appealing to consumers during times of economic distress. Unlike most average apartment rentals that require a year lease, most corporate housing providers only require a 30-night minimum, which is easier for customers to grasp financially. Also, many relocating employees are coming into the market with a far different idea of renting and leasing than your average renter. These renters/employees have corporate jobs and salaries that can pay the rent. Also, no matter what the economic environment, corporate housing remains a strong alternative to simple and unfriendly hotel rooms.
Read one of The Wall Street Journal’s full article’s on the rental market.
Tags: Boston, Business Travel, corporate apartments, Corporate Housing, Corporate Travel, Extended-Stay Hotel, Fully Furnished, hotel, Nationwide, Philadelphia, Temporary Housing, Washington D.C.
“Is 2009 the year of the apartment?” asks a recent UpgradeTravelBetter.com blog post. The answer is simple: yes. With more and more corporate travelers cutting back on costs, corporate housing apartments are less expensive and more comfortable than hotels. Corporate apartments are “20-40% cheaper compared to hotels” and they offer “fully equipped kitchen with self-catering facilities, various bedroom choices, lounge and relaxation areas,” writes blogger Mark Ashley.
Compared to Extended-Stay Hotels Corporate Housing Offers:
Cheaper temporary housing
Apartments and townhomes with more square footage
A like-home feel in a residential environment
Many more amenities, such as housekeeping and full-kitchens
Safety with 24-hour security
Forbes also praises corporate housing over extended-stay hotels for business travelers. “Corporate housing…furnished homes or apartments with kitchens, living areas and often at least twice the square footage of a regular hotel room. Corporate housing is a $2.8 billion business in the U.S, spanning nearly 80,000 units, mainly clustered around larger cities,” writes the Smart Shelter author Miriam Marcus. Are you a corporate/business traveler looking for temporary, fully-furnished housing in one of the nation’s major cities? Check out Churchill’s listings in major cities Nationwide, including Washington, D.C., Boston, and Philadelphia.