Corporate housing makes any long term vacation away from home more fun. My family took a week-long trip down to Florida and stayed in a corporate house. It came furnished with all of the essentials needed for a comfortable getaway. Since my vacation when I was a teenager, it seems that corporate housing has risen in demand as a temporary home for people.
Corporate Housing is on the Rise
Renting a corporate home for an extended period of time is cheaper than owning a home. The greatest increase in popularity was shown in 2017. It’s increase in demand is also due to the internet. More people have access to these sites from all over world, which is they are expecting to see an even more increase with nontraditional tenants. Corporate housing has been growing at a faster rate than hotels.
Below are statistics showing the increase in corporate housing.
- Revenue has increased to $3.2 billion. That is a 10.2% increase compared to 2 years ago.
- In 2107, number of occupied units has increased by 18.6%.
- People stayed in US corporate housing for up to 78 nights in 2017.
- There is an estimation of 71,201 corporate housing units in the US.
People who make the decision to rent a corporate home aren’t just those on vacation or wanting to a comfortable home to stay in. Corporate homes are popular for interns or people who are in training trips. It’s a perfectly furnished home with everything you already need when your further away from home. I can see why it would make a great option for interns.
The Best Option For Interns
Each year, there are 65,000 interns who travel to get experience. All of them need a place to live. The competition to get interns into a comfortable home is high. For companies to provide housing for up to 3 months can end up costing thousands of dollars. This is where corporate housing comes in. Corporate housing can cost less than $3,000 a month, which is the average cost for many apartments in New York or any big city.
Do You Love to Travel
If you are someone who loves to travel the world, corporate housing is the most convenient place to stay. There is an expected increase in seasonal tenants. Up north where I live, we get many people who travel here in the winter to practice skiing for the olympics. In the summer, many people come up here to stay before heading back down south before the winter hits.
Corporate housing will always be on the rise as more people want to travel or need a place to stay for a while. When I get the chance to travel, I know I will choose corporate housing over staying in a hotel.