Corporate housing is a short-term rental model targeted primarily at the business traveller or any person looking for an extended-stay full-service accommodation. Needless to say, in the post-pandemic world of hybrid work mode, many medium and large corporate entities are looking for such apartments which they can rotate among their travelling executives.
Even for freelance professionals looking for an extended-stay option as an alternative to hotel accommodation or for those relocating to a new city, such short-term hospitality models, also known as “serviced apartments” or “extended-stay apartments”, are attractive solutions. For the latter group, this allows them the leeway to settle in a bit before they can plan moving into a more permanent accommodation once they know the city better. Sometimes, such accommodation is also perfect for medical stays when you want to be close to the hospital your loved one is in.
As opposed to a hotel room, a corporate apartment is not just a bed and bathroom. It’s a fully furnished unit usually offering a clutch of amenities like a fully-equipped kitchen, TV set, coffee-maker, dishwasher, refrigerator, cleaning services, etc, besides of course a reliable wi-fi connectivity – all included in the rental tariff. In other words, one can actually live off a suitcase, while enjoying a “home away from home” feel.
While a majority of clients would typically stay for a couple of weeks or on the outside, a month perhaps, the rent-out policy for corporate apartments is usually quite flexible, with tenants sometimes opting to stay for even months together. In case of unusually long stays, sometimes a monthly rental arrangement is also worked out.
What are the obvious benefits of staying in a corporate apartment?
# Less expensive: Corporate apartments usually work out less expensive than hotel stay, while you still feel at home.
# More privacy: This arrangement gives you much more privacy than a hotel room since you don’t normally have a fleet of cars parked outside, deal with a constant flow of temporary guests, or have to go out for every meal, since you would have a fully-functional kitchen.
# Less noise: Corporate apartment properties are usually located in quieter residential areas instead of bang in the heart of the commercial district, hence more peaceful.
# Bonus features: Sometimes, if you are lucky, you could have access to an in-house gym, indoor sports or swimming pool.
# Home utilities: Corporate housing will normally come with gadgets and appliances like TV set with cable/DTH, refrigerator, dishwasher, iron, washer-dryer, coffee maker, microwave oven and the like.
# Connected 24x7: All such apartments come with a highly reliable broadband wi-fi service built into the package so that be it work or entertainment, you are always connected, never missing a beat.
# Less paperwork: Moving into a fully-serviced corporate apartment usually entails very little paperwork and minimum waiting period unlike entering into a proper lease rental agreement for a conventional rented place. Just take your keys and start living with everything cared for. It’s a convenient and pragmatic solution for short-term stays.
# All-inclusive package: In a full-service corporate apartment, the package normally includes all utilities including water, electricity, cooking gas, etc. To sum up, corporate apartments constitute both a product and a service. While the apartment itself is the product, all the allied facilities that come with the accommodation can be referred to as the service package.
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