What are the advantages and disadvantages of corporate housing?
The advantages of corporate housing are as follows:
- Corporate housing is cheaper than a hotel because it includes all of the services such as utilities, kitchenware, furniture and bedding. In a hotel you can rack up a very expensive bill, but not with corporate housing.
- Because you are spending quite a bit of time away from home you will need a space that fits your needs and feels like home. An apartment means you will get all the space you need and more. They are definitely bigger than hotels.
- Washing and drying bills. In corporate housing, there are washers and dryer utilities included in the rental whereas in hotels you have to go looking for a laundromat which will soon add up.
- Full kitchen. If you are eating out every night that can be very expensive as well as unhealthy. The corporate housing includes all kitchen aspects including fridges, microwaves, ovens, and places to store your food. You can do this every night instead of eating out.
- Proximity to work. Corporate housing provides apartments that are just a stone’s throw away from your place of work. This will mean your spending on gas will be greatly reduced. If you stay in a hotel it may be in the city center and your job might be outside of town.
- Maid service. Hotels provide maid service but so does corporate housing. They include someone to come in and clean your apartment, take out the trash and change the bedding if necessary.
- Corporate housing can come in the form of high-rises, condo, apartments, private homes as well as many more. This makes budgeting much easier and you can easily choose what you want for your money.
The disadvantages of corporate housing are as follows:
- In most cases, employees prefer using hotels for corporate accommodation. They prefer eating out to cooking for themselves, except for repeated and prolonged travel situations. Hotels are viewed as more convenient and have more amenities.
- Housing issues. The corporate housing may stir up issues between employer and employee such as loud music, damage to the apartment etc. This wouldn’t happen with hotels as those situations are usually resolved with hotel management and don’t include the involvement of the employer.
- Termination dilemma. Who is entitled to possession of the unit when the contract between employer and employee is terminated? The employee may have signed a lease that suggests that the apartment belongs to them after they no longer have a job, which could cause a problem for the company who wants to keep the space free and available for new employees.
- Tax issues. For the corporate housing unit to avoid a hotel tax, property managers should require either the employee or company to sign a 30-day lease.
Why corporate housing?
A family using corporate housing
All I use is corporate housing