Renting corporate housing for business travel accommodations provides myriad benefits, including cost savings and increased comfort when traveling for business. Following is an interview with Kimberly Smith, founder of CorporateHousingByOwner.com (CHBO), on the benefits and considerations of corporate housing for business travel.
How many homes are rented annually (or monthly) for corporate stays with CHBO?
According to the annual Corporate Housing Industry report compiled by The Highland Group, on any given night in the U.S., there are over 60,000 people sleeping in traditional apartment corporate housing. CHBO is a marketing resource for owners of privately owned and furnished residential properties and, on any given day, has approximately 3,000 of these properties available for lease.
What should a business traveler know about renting a corporate property?
Corporate housing can save them money, make them more comfortable, give them a temporary residential lodging experience rather than a transient hotel, and allow them to stay healthier- both through peace of mind and the ability to eat in while traveling.
The business traveler should ask what is included in the single monthly rental rate; all CHBO Complete properties have all utilities, local phone, extended cable and high-speed Internet service all included in the one monthly rate. The business traveler should run the numbers if they are traveling to the same city a few times a month- it could save them to get a monthly rental rather than just settling for temporary hotel solutions. Ten nights is a hotel could be the same rate as a monthly rental.
In addition, a business traveler should know that corporate rentals are truly for extended stays of one month or more. If a traveler needs a place to stay for four days, a hotel will suit him or her just fine. But for an extended business trip for 30+ days, a corporate rental will provide that much-needed and desired home-away-from-home feel. The traveler won't have to live in a transient hotel setting, nor eat all meals out and spend a fortune in fees and room service, etc.
What common mistakes do renters make?
Renters should be sure to ask the right questions to make sure the property they're renting accommodates their needs. If you want to bring your dog, make sure it's okay. If you have special needs, make sure the property is equipped to accommodate you. Up-front due diligence can ensure a positive experience for all. I also recommend that renters are completely honest about how the property is going to be used and who will be staying in the home. If the home only has two beds and has a limit of two people, it's important that renters respect that policy and not try to dupe the system.
Also, ask for a property inventory list prior to arrival to ensure the property is equipped with the desired items. Get everything in writing.
What are the benefits of a corporate housing rental?
Corporate housing can give a busy business traveler a sense of home- it's no fun living out of a suitcase in a cramped hotel for months at a time. Not only is the environment stifling, but it can wear on a road warrior after a while. Many traveling consultants complain of weight gain because they eat out all the time. But, in a corporate rental, they could prepare healthy meals and eat in more often. Corporate housing can also save a consultant (and/or their employer) quite a bit of money. Hotel fees add up since they are nightly rates. Plus, they add service fees, parking fees, Internet fees and more. Most corporate renters say they are able to shave one-third of their travel costs by staying in a corporate rental.
Another great benefit is the opportunity to be in a neighborhood setting. You get to experience a city and the local culture- a slice of life in a new city. Hotels are not conducive to that and take away from the experience of living somewhere new.
How do you ensure that each property is, in fact, as advertised? Is there a refund guarantee?
We guide everyone who posts a listing on our site to follow the "CHBO Complete" guidelines, which is a checklist of items they should have available in the home to be considered a true corporate rental. We encourage those shopping around for a furnished rental to look for the "CHBO Complete" certification.
We also rely on customer reviews and feedback. Our site is a community where people can share their experiences with others and decide who they want to do business with based on that feedback.
Teresa Shaw - Teresa J, Shaw is a professional journalist with more than 12 years of experience. She travels for both business and pleasure several ...
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