What’s the difference between business accommodation and corporate housing?
Business accommodation and corporate housing sound like they meet the same need: somewhere for business employees to stay away from home. But how similar are they in reality? Although they fundamentally meet the same need, there are some key differences you need to be aware of when considering letting a property for your employees.
Actually, they are two quite different types of accommodation that companies may opt for when needing accommodation for their staff, depending on their needs. Here we explore the differences and benefits of each.
What is corporate housing?
Corporate housing, as you would find on InnClusive is a rental option for companies who require accommodation for their employees on a short term basis, 4 weeks to 3 months is typical.
The company covers all the rental and other obligations relating to the agreement without being tied into a long term contract. They typically want high quality, fully furnished, and all-inclusive accommodation that is regularly maintained. Basically, they want their employee to turn up with a suitcase and food for the fridge and everything else will be included or covered for them.
Serviced apartments are a popular option for corporate clients, providing everything the employee needs in a convenient location, family homes are also available as corporate lets and could be ideal for employees relocating with their family.
This creates a happy medium between letting an apartment where you would be committed to renting for a fixed period and staying in hotels that never feel like home. This type of accommodation is growing in demand.
What is business accommodation?
Business accommodation, by contrast, is a mixture of hotel rooms, guesthouses, shared houses/hostels, or apartments. These can be convenient in some cases where the employee requires a shorter stay than 4 weeks.
They don’t quite offer the home from home feeling of corporate housing but are functional and comfortable in their own right businesses will pick a hotel that meets their business needs.
Usually, when a business uses a hotel chain they will have pre-agreed business rates reduced from the standard fee for using the same chain of hotels. This is true for most types of business accommodation.
Which one is best for me?
This will depend on the length of let and the purpose of your let, if you need to accommodate an employee for a brief project lasting only two to three weeks, then business accommodation may be perfect for you, as for a short period a hotel or guesthouse is sufficient.
For anything longer than a month, you’ll be better off considering a corporate housing let. It will be financially better for the company and more homely for the employee and allow them to use the space as they would their own home, right down to cooking and hosting guests.
Whatever your choice, business travel and accommodation will be a growing requirement in 2021 as professionals go back to travelling for work @FM_the_magazine said: “A global business travel growth of 21% is expected”
If you’re considering corporate letting for your employees on long term projects or those looking to relocate, be sure to check out InnClusive’s available lets. We have locations all over the UK and across Europe.
We adhere to strict quality standards so you can be certain the accommodation you let with us not only meets the length of time required but also is maintained to a high standard.
