10 Benefits of Corporate Housing

Corporate housing refers to fully furnished apartments, condominiums, and homes rented out to companies temporarily to accommodate employees traveling for work. These units provide a spacious and comfortable lodging alternative to cramped hotel rooms.

Companies across all industries and sizes now rely on corporate housing to lodge teams on project assignments, training programs, and conferences.

There are many reasons why corporate housing has become an essential lodging solution for business travelers. This article will explore the top 10 benefits of corporate housing in depth to demonstrate why it has become a preferred lodging option for companies across different industries.

1. Cost Savings

Corporate housing delivers significant potential cost savings compared to extended hotel stays, which is especially beneficial for frequent business travelers. Renting a spacious multi-bedroom corporate housing unit allows each worker to have a private bedroom and bathroom while still reducing overall lodging costs.

When weighing total trip expenses, corporate housing typically provides substantial savings on lodging and meals. Employees have access to full kitchens, allowing them to prepare cost-effective home-cooked meals rather than relying on expensive takeout or restaurant meals. The cost savings quickly add up, making corporate housing the more budget-friendly lodging option.

2. Convenience

Corporate housing maximizes convenience through amenities, services, and optimal locations. Units are strategically situated near prime business centers, diverse dining options, major attractions, grocery stores, and reliable public transit. For the oil and gas industry, oilfield housing is a prime example of how corporate lodging can be positioned near work sites, reducing commute times for workers.

Onsite amenities like fitness centers, pools, business centers, and community events reduce time wasted traveling to offsite facilities. Employees can easily conduct business activities and enjoy leisure time in their community. This unparalleled convenience keeps staff productive with minimal disruptions to work and personal life.

3. Customizable Options

One major advantage of corporate housing is the ability to customize units and packages based on unique team needs. Providers offer flexible accommodation options ranging from cozy studio apartments up to spacious 4+ bedroom units to house groups of all sizes. Units can be conveniently situated in prime locations near major business hubs, popular attractions, diverse dining options, and reliable public transportation.

Some corporate housing providers even allow companies to hand-select specific units that best match their preferences. Companies can also negotiate special bulk rates and exclusive partnerships for renting out an entire complex or a block of units.

This high degree of customization enables HR managers to tailor corporate housing solutions that align with specific project requirements, team sizes, budgets, location priorities, and required amenities.

4. Improved Productivity

The comfortable, home-like environment coupled with helpful amenities found in corporate housing can greatly boost productivity and performance on long-term assignments. Employees are provided with private bedrooms, designated office/work areas, fast and reliable internet, fully-equipped kitchens, and household necessities that are not always provided in hotels.

Moreover, workers can easily maintain healthy routines by preparing nutritious home-cooked meals, exercising, and getting ample rest. The independence, personal space, and familiarity of a residential setting also promote higher morale, reduce stress levels, and increase focus on delivering quality work. By keeping employees happy, healthy, and comfortable, companies see higher engagement, satisfaction, and output.

5. Enhanced Security

Security is a major factor for companies when relocating employees to new regions, especially in unfamiliar international destinations. Corporate housing complexes provide secure, controlled access, 24/7 video surveillance systems, on-site staff and are situated in safe residential neighborhoods away from areas with high crime rates.

Companies can opt for gated communities or buildings with professional security guards for additional peace of mind.

These personalized private units also offer safer accommodations than public lodging with constant stranger turnover. Employees can feel at ease knowing providers implement rigorous safety measures. This heightened security provides companies vital assurance when temporarily relocating staff to new areas.

6. More Space

Who doesn’t like a bigger room? Corporate housing units are far more spacious, comfortable, and amenity-rich than an average hotel room. The additional space and features make extended work trips away from home much more pleasant and convenient for employees. For long-term trips, these household conveniences and amenities can greatly improve quality of life while traveling for work.

The larger multi-room units also prevent employees from feeling cramped or crowded when working and relaxing. Having defined spaces allows workers to be productive and focused during the day and rest comfortably at night. The spaciousness and amenities keep staff refreshed, allowing them to deliver their best consistently.

7. Company Branding & Culture

Renting the same corporate housing units or dedicated complex allows a company to maintain brand continuity and cultural familiarity for globally dispersed teams on assignment. Units can feature company colors, signage, amenities, decor, and branded welcome packages to provide a sense of connection.

This continuity of branded touchpoints improves company loyalty and morale while staff are away from headquarters. Some providers even allow companies to fully customize units to align with corporate branding and culture closely. Maintaining these familiar elements of the work culture helps unite remote teams.

8. Tax Benefits

Corporate housing offers possible tax advantages compared to extended hotel stays for business travel. Companies may potentially write off 100% of lodging expenses rather than just 50% for hotels. There are also deductions available for meals and incidentals. Consult a tax advisor to best utilize available federal tax deductions and local exemptions.

Significant cost savings may apply, especially for long-term international assignments. However, proper documentation, policies, record-keeping, and tax filings are required to earn these corporate housing tax advantages legally.

9. Sustainability

Corporate housing aligns with sustainability initiatives like comprehensive recycling programs, energy-efficient units, reduced waste, and paperless transactions. Units include full kitchens that allow for home cooking to cut down on takeout waste. Digital amenities like smart thermostats, LED lights, and energy-saving appliances also help conserve energy and water.

Many providers analyze their environmental footprint and operations to identify opportunities for implementing eco-friendly improvements. These collective sustainability measures provide environmental benefits that environmentally-conscious companies increasingly emphasize.

10. Streamlined Booking

Reputable corporate housing providers offer convenient online booking platforms that simplify and expedite the housing process. Companies can easily compare locations, floorplans, amenities, real-time rates, and reviews for various units. Dedicated account managers also assist with streamlined bookings, contract negotiations, extension requests, and consolidating invoice payments.

This centralized digital system reduces frustrating administrative burdens substantially. Streamlined online booking makes securing corporate housing quick, seamless, and stress-free for both managers and traveling employees.

Conclusion

Corporate housing delivers significant advantages over hotel stays, from cost savings to convenience, productivity, and beyond. As business travel returns to pre-pandemic levels, companies should strongly consider corporate housing to lodge their traveling employees. The comfort and amenities combine to create an optimal environment for maintaining productivity and focus while working on assignments away from home.