The Value of Corporate Rentals

Posted on: April 2nd, 2013 by mfzMaster No Comments
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The Value of Corporate Rentals

Short term apartments can satisfy a variety of needs, and exist under a variety of descriptions such as “temporary housing” or even “short term housing”.

In any case, being able to find suitable accommodations for anything that doesn’t entail an unrealistic long term commitment can be a benefit to potential renters.

Of course, short term housing can be expensive and will weed out some renters due to price.  Typically these short leases run three or six months, require a higher monthly payment, and still have steep penalties attached if you need to break your agreement early.  Corporations and renters alike are willing to pay the extra fees for the added conveniences and flexibility.

For individuals who perhaps travel regularly on business, local short term housing is usually a more comfortable option than living in a hotel for weeks on end.  Some hotel chains advertise these as “extended stay” units and they’re fairly comfortable.  Everything you need is on hand from bedding to dishes to TV, cable and onsite laundry.

It can also be a good idea to build relationships with insurance companies who are contacted by those that may have been displaced from their home due to a catastrophic event.  Insurance companies assist with finding short term housing, usually in the form of an apartment or motel unit.  A corporate apartment would be much more comfortable for many than a cold temporary motel without the added benefits or features like full kitchens, saving both the insurance companies and the individuals money for additional out of pocket expenses like eating out at restaurants.

The considerations for corporate rentals at your property may need to be revisited from time to time, based on economic times and your short/long term business plan.

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