Finding corporate apartments for rent doesn’t have to be difficult. You just have to know where to look and what style of apartment you actually want. There are plenty of furnished apartments out there that can be great alternatives to traditional hotels or other extended stay buildings.
Here are some important frequently asked questions involving corporate apartments.
How often are households rented out?
According to U.S. Census ACS data, in 2014, roughly 36.90% of all households were occupied by renters. While that’s not a huge number in comparison, it’s still significant.
When are these apartments used the most?
Typically, corporate housing is used in the travel industry. The furnished apartments are often rented out to military personnel, corporate workers, or individuals looking for a temporary stay.
How is the corporate housing industry doing?
The Corporate Housing Providers Association (CHPA) states that the industry has been doing quite well in recent years. As of 2009, the corporate housing revenue was at $2.36 billion and then experienced a significant growth period over the last few years. After a 7% increase from 2014, in 2015, corporate housing revenue hit a remarkable $2.93 billion in the United States.
How is rent handled?
The majority of renters admit that paying online is much preferred when it comes to corporate renting. Approximately 78% of renters prefer paying online for a place and 63% were interested in using their credit card to pay for rent.
How long do people usually stay at these corporate rental units?
Though each situation is different and people have various reasons for renting in the first place, most people end up staying in these rental apartments for just under three months. The average stay in 2015 was approximately 84 nights.
What are the prices like?
Again, each situation is different and it depends on a few extenuating circumstances, but typically the price will range from $50 to $130 per night. There are units for renting that have either one, two, three, or more bedrooms, but that’s not the sole determining factor. The rate will vary depending on length of stay, location, apartment size, and a few other factors.
If you want to find out more about corporate apartments, contact Meadow Creek today. Whatever the reason you’re renting an apartment, please, enjoy your stay.