Corporate apartments are owned or rented by companies for various reasons, including temporary housing for employees, affordable housing for frequent business travelers, and accommodation for out-of-town clients. They can be more cost-effective than hotels and offer fully functional kitchens, making them ideal for extended stays.
Corporate apartments are owned or rented housing solutions by companies. Businesses may use this type of housing facilities for a variety of reasons, ranging from providing temporary housing for employees moving to a new location within the corporate facility to making sure out-of-town customers have a comfortable place to place to stay while visiting the area. Some businesses will also make use of corporate apartments to house salespeople and other employees who may be in town for weeks or more to handle setting up an account with a new client or assist an existing client with a project that requires personalized attention.
One of the most common uses of corporate apartments is to provide affordable housing solutions when officers, owners or other representatives of a company frequently travel to a certain area on business. For example, if a US-based law firm is carrying out ongoing work for a client who requires frequent stays in the UK, the firm may choose to secure an apartment which allows any solicitor or any independent contractor hired by the firm use the apartment during their stay in the countryside. It is not unusual for media companies to use the approach of maintaining corporate apartments in key cities around the world that provide available housing for journalists or other media professionals when their duties take them to that particular area.
While long-term leasing of corporate apartments is often less expensive than hotels or other lodging options, this type of deal can be effective for short-term housing as well. For example, if a salesperson is sent to a specific metropolitan area to establish a customer base in the area and has a limited amount of time to complete the effort, the employer may rent a corporate apartment rather than have the salesperson stay in a hotel . There are a number of hotel chains which are now operating so-called extended stay establishments. These often include low cost corporate apartments with fully functional kitchens which are considerably less than standard hotel accommodation and can be booked for anywhere from a week to several months.
A third common use of corporate apartments is to provide accommodation for out-of-town business clients. In this scenario, a business rents out an apartment that customers can enjoy when they visit the vendor or supplier’s headquarters. Providing an added benefit of this type can often help to increase customer rapport, as the convenience of the apartment means the customer does not have to absorb the expense of a hotel and can forgo the need to book some sort of accommodation for the trip .
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