Maid service. Cable TV. Concierge services. A bathroom stocked
with all of the essentials -- shampoo, mouthwash, toothpaste,
strategically placed towels. A gift basket. An ironing board.
But you're not in a hotel. Instead, you're staying in corporate
housing, a fast-growing market across the United States that's
proving to be more cost-effective for companies and more
comfortable for employees. And the race is on for the most
comprehensive and luxurious services possible.
If you're on assignment for any length of time, a hotel room
doesn't compare to the flexibility and comfort that corporate
housing provides. Corporate Housing is sprouting up all over the
United States, as apartment developers add this profitable and
much-in-demand option to their list of services. But how long is
long enough when you're considering corporate housing?
Corporate housing, sometimes called temporary housing, is
designed primarily for employees or individuals that require
"long-term" (for a period of 20 days or more) housing due to
relocation, disaster, or a lengthy yet temporary assignment.
Although apartments, townhouses, and condominiums are the most
common varieties of corporate housing, single-family homes are
on the rise, as well. And corporate housing providers,
increasingly aware that pleasing their clients often means
accommodating their clients' families, are providing such
amenities as cribs and high chairs, keeping in mind that
business people occasionally bring their families with them on
assignments, or share occasional visits. Some facilities allow
pets, and one corporate housing provider even provides Disney
bedspreads upon request.
In many cases, companies find that placing their employees in
corporate housing is more cost-effective. And it's a
well-received alternative by employees, who are able to set up
homes away from home, with their own kitchens, laundry
facilities, and extra space. While they provide more flexibility
for residents, corporate facilities often have many of the same
service-oriented features as hotels. In some accommodations, in
fact, a stay in temporary housing may resemble a mini-vacation
of sorts. Corporate housing staples include TV with basic cable
(additional channels are optional); fully furnished rooms,
including kitchens with microwaves, dishes, basic cookware, and
silverware; local phone service; and linens. Many include
washers and dryers, and those that don't usually have on-site
facilities. Maid service is often available, cable TV is often
provided, and the list of creature comforts continues to grow in
the wake of competition among various corporate housing
companies. Ironing boards, answering machines, microwave ovens,
and vacuums are a few examples.
Corporate housing is following the trend started by the business
world it serves. It's going high-tech. Oakwood Corporate
Housing, one of the country's major corporate housing providers,
includes such options as printers, fax modems, multiple-line
telephones, and -- for big and little children -- Nintendo game
players.
Oakwood, which has a significant presence in California's
booming Silicon Valley -- a region attracting the brightest
recruits from throughout the world -- offers a particularly
unique package, called the "Asian Kitchen," to accommodate a
growing proportion of its clientele. The package includes a rice
steamer, teapot and teacups, soup and noodles bowls, rice bowls,
and four pairs of chopsticks. And for those clients who plan to
do some serious Asian cooking during their stay, a separate
Asian Cooking Package includes a stir-fry wok, ladle, spatula,
chopsticks, and cleaver. For clients who have traveled from
overseas, it may not be home, but it's pretty close.
According to K&M Relocation Network, which includes a corporate
housing division, the cost of a fully furnished apartment is
typically 30 percent to 50 percent less than the cost of a hotel
room. For example, assuming that a one-night stay in a corporate
apartment will cost you approximately $60, one night in a hotel
could run as high as $120 or more. If you're on a $3,000
business travel budget, you'll get 50 nights in a corporate
apartment for that price, but only 25 nights in a hotel before
you're out of money.
While these facilities are designed to resemble home-like
environments, utilities -- including telephone, cable TV, gas,
and electricity -- usually are included in the cost. To further
illustrate the potential cost savings of choosing corporate
accommodations versus an apartment, consider all of the little
charges that add up when you're an apartment-dweller: a move-in
deposit, monthly rent, electricity deposit, monthly electric
bill, telephone service deposit, monthly phone bill, furniture
rental deposit when applicable, monthly furniture rental when
applicable, housewares deposit, monthly housewares rental,
weekly housekeeping service, monthly cable TV fee, and cable
deposit/installation. Corporate housing, in contrast, charges
companies one monthly bill, a consolidated monthly statement
that varies according to the package selected by the employer or
employee.
Employers also are finding that providing such facilities eases
the stress of business travel or relocation. Studies have
indicated that companies experience increased productivity from
their employees when they are able to reduce their stress by
living in an environment which closely resembles their normal
living situation. The commute to work usually is kept to a
minimum, entertainment opportunities are often present, and
recreational activities are plentiful -- jogging trails, fitness
centers, and tennis courts, for example.
But corporate housing providers realize they've got a potential
market that extends far beyond the business travel. Many people
are in need of temporary housing for a variety of reasons --
vacations, seasonal travel, emergency stays, traveling with
children, or interim housing, for example. For all of these
groups, temporary housing represents a more attractive
alternative -- particularly for families -- because of the cost
savings they may provide. Families who head to a restaurant
three times a day, for example, may be alarmed at how quickly
their travel budgets are drained; but a family who instead heads
to a nearby grocery store for staples will save a significant
amount of money. After all, parents know that children will be
far more receptive to the idea of cereal in the kitchen than
eggs Benedict at the local restaurant. In response, multifamily
developers, such as Gables Residential, increasingly are turning
to corporate housing as a hot new avenue to generate business.
About the author:
Since 1989 dan the roommate man has helped 1000's of people find
roommates. Need help? Contact him at 800-487-8050 or
www.roommateexpress.com