(list is updated quarterly)
In addition to traditional and extended stay hotels, many fine companies offer a product called “corporate housing”, or fully furnished and accessorized apartments for short term lease. You don’t have to be a corporation to lease one, only interested in high end residential temporary living at a value price point. As you shop many factors will contribute to the price of these furnished apartments.
Furnishings and accessory options play an increasingly significant role in product quality and price. If you have watched television in the last years you have likely noticed an advertising trend featuring various ways hotel guests are provided a good night sleep. The corporate housing industry mirrors this trend with many providers upgrading bedding linen packages to high tread count or sheets. More often then not furnished housing guests can also expect their apartment to have high speed internet included, a washer and dryer in their apartment and the option to upgrade to a flat screen television.
With many companies offering a “buffet” type of product for selection (locations, view, inclusions) the furnished apartment guest may customize options in order to reflect their perfect temporary living experience while enjoying this uniquely residential product at a fraction of the cost of hotel living.
I. Major elements to factor:
Corporations who move multiple employees annually under relocation or temporary assignment policies have needs, criteria and purchasing advantage that exceed that of an individual buyer. The first and most obvious advantage to managing several moves per year is the buying power to command discounted rates from service providers. Corporate housing providers are no exception to this rule, and depending on occupancy percentages and repeat business potential may offer a corporate discounted rate to bulk buyers. Offering information about expected or previous volume when discussing potential discounts would favor the corporate purchaser.
Last but not least, there are several indicators that your corporate housing representative can be a resource, even advocate to help make your experience as stress free as possible. Are you speaking to a licensed Illinois Real Estate Leasing or Sales Agent? The state has protocols in place including Fair Housing Law that licensed agents must practice. Is the company a member of the Corporate Relocation Council of Chicago?
Your furnished corporate apartment awaits. Enjoy your stay!
Authored by :
Deborah Nilles – Key 2 Chicago, Inc.