In today’s world, there are a variety of options available to people who are looking for temporary housing. Two of the most popular options are corporate housing and short term rentals. Although both options provide a place to stay, there are significant differences between them. In this article, we will be unpacking the difference between corporate housing and short term rentals, exploring the benefits of each option, and helping you make the best decision for your temporary housing needs.
What is Corporate Housing?
Corporate housing is a type of furnished apartment or house that is available for short-term stays. It is typically provided by corporate housing management companies and is available to individuals and businesses. Corporate housing is often used by companies to provide temporary housing for employees who are relocated to a new city or country. It may also be used by individuals who are traveling for business or leisure.
The primary benefit of corporate housing is that it is fully furnished and equipped with everything you need for your stay. This includes furniture, appliances, electronics, and kitchenware. It also includes utilities such as water, electricity, and internet. Corporate housing is typically more expensive than traditional rental properties, but it can be well worth the cost for its convenience and comfort.
Benefits of Corporate Housing
There are many benefits to choosing corporate housing over other types of rental properties. The first is that it is often cheaper than hotels, especially for longer stays. Corporate housing is also much more comfortable than a hotel and can provide the same amenities. It is also more convenient, as it often comes with all the furniture and appliances you need.
Additionally, corporate housing is more flexible than renting an apartment or house. You can choose your length of stay, from as little as a few weeks to as long as a few months. This makes it an ideal choice for people who are traveling for business and need a place to stay for an extended period.
Different Types of Corporate Housing
There are different types of corporate housing available. The most common types include:
- Apartments: These are furnished apartments that are often rented by companies to provide temporary housing for their employees. They typically come with all the necessary furniture and appliances.
- Townhomes: Townhomes are larger than apartments and often have multiple bedrooms and bathrooms. They are often rented by companies for longer stays.
- Houses: Houses are larger than townhomes and come with all the amenities of a home. They are often rented by companies for executive housing or for extended stays.
What is Short Term Rental (STR)?
Short term rental is a type of rental property that is available for short term stays. STRs are typically owned by individuals who rent out their properties for a short period of time. They are often used by people who are traveling for business or leisure, or by people who are relocating for a short period of time.
The primary benefits of STRs are that they are often cheaper than corporate housing or hotels. Additionally, they can provide more privacy and comfort than a hotel. STRs can also be rented for a shorter period of time.
Different Types of Short-Term Rental
Short term rental properties come in a variety of types, but the most common two are:
- Vacation Rentals: These are usually owned by individuals who rent out their properties for a short period of time. They are often used by people who are traveling for business or leisure, or by people who are relocating for a short period of time.
- Airbnb: Airbnb is a popular website that connects people who are looking for short term rental properties with homeowners who are willing to rent out their properties. Airbnb properties often come with amenities such as pools, hot tubs, and other recreational facilities.
Comparing Corporate Housing and Short-Term Rentals
When it comes to comparing corporate housing and STRs, there are a few key differences to consider. The first is cost. Corporate housing is typically more expensive than short term rental properties, although this may vary depending on the length of stay.
The second difference to consider is amenities. Corporate housing often comes with all the necessary furniture and appliances, as well as utilities such as water, electricity, and internet. Short term rental properties, on the other hand, may be fitted with more recreational amenities.
The third difference to consider is flexibility. Corporate housing may be more flexible than traditional rental properties, as you can choose your length of stay from a few days to a few months. STRs, on the other hand, can be rented for a shorter amount of time.
Corporate Housing vs Short Term Rentals: Pros and Cons
When deciding between corporate housing and STRs, it is important to consider the pros and cons of each option.
The primary pros of corporate housing are that it is usually more comfortable than a hotel and comes with all the necessary furniture and appliances. Additionally, it is often more flexible and can be rented for a longer period. The primary cons of corporate housing are that it is typically more expensive than short term rentals and may not have access to local attractions.
The primary pros of STRs are that they are often cheaper than corporate housing and may come with additional recreational amenities. Additionally, they may provide access to local attractions and are appropriate for shorter stays. The primary con of short term rentals is that they are often less comfortable than corporate housing.
Factors to Consider when Choosing Between Corporate Housing and Short Term Rentals
When deciding which choice is best for your temporary housing needs, there are a few factors to consider. The first is cost. Corporate housing is usually more expensive than STRs, although this may vary depending on the length of stay. The second factor to consider is amenities. Corporate housing usually comes with all the necessary furniture and appliances, as well as utilities such as water, electricity, and internet. Short term rental properties, on the other hand, may come with additional recreational amenities.
The third factor to consider is flexibility. Corporate housing may be more flexible than traditional rental properties, as you can choose your length of stay from a few weeks to a few months. STR properties, on the other hand, can be rented for a shorter period.
Finally, consider the location of the property. Corporate housing is often found in neighborhoods that are close to businesses and other attractions, while short term rental properties may be located near local attractions.
Conclusion
When it comes to choosing the right option for your temporary housing needs, there are many factors to consider. Corporate housing and short-term rental both have their advantages and disadvantages, and it is important to weigh each one carefully before deciding. Ultimately, the best option for you will depend on your budget, the amenities you need, and the purpose and length of stay.
If you’re looking for a comfortable, fully furnished place for an extended stay, corporate housing is the best option for you. If you’re looking for a place for a shorter stay with access to local attractions, short term rental might be the way to go.
Thank you for reading this article about corporate housing vs short term rentals. I hope you now have a better understanding of the differences between the two options and can make the best decision for your temporary housing needs.