What Is Corporate Housing?

Corporate housing has garnered significant popularity within the last 20 years. About 73,385 corporate housing units were located across the United States in 2008, leading to an industry revenue of $2.77 billion. These housing units usually have one to three bedrooms and offer furniture and regular maintenance.

About Corporate Housing

A corporate housing company will rent furnished homes, apartments or living quarters to individuals, military personnel or corporations. Its services are much like a hotel room in that it offers furniture, privacy, electricity, and often housekeeping.

Local Corporate Housing

Some corporate housing companies only offer housing in one city or town. Therefore, they manage a smaller group of clientele but typically are able to run a more-personal business.

National Corporate Housing

National corporate housing companies have living quarters across the country. They are usually employed by service military personnel or as part of a corporate contract. As of 2008, there were an estimated 1,100 corporate housing operations in the U.S.

What Corporate Housing Offers

Corporate housing typically boasts larger rooms and more privacy as compared to hotels. Companies find their services to be cost-effective, and individuals facing temporary relocation or insurance displacement find corporate housing to be convenient, according to the Corporate Housing Providers Association.

Costs

The average rental for a one-bedroom unit in 2008 was $117 per night.

References

• What is Corporate Housing