What Is Corporate Housing?

When work takes you away from home for weeks or even months, finding a comfortable and practical place to stay becomes a top priority. That’s where corporate housing comes in—a smart, flexible solution for business travelers, relocating employees, and anyone in need of a temporary home away from home. But what exactly is corporate housing, and how does it differ from hotels or short-term rentals? 

In this post, we’ll break down everything you need to know: what it is, who it’s for, and why it might be the perfect option for your next extended stay.

Key takeaways:

• Corporate housing offers a flexible, home-like alternative to hotels and rentals.
• It comes fully furnished with utilities and amenities included.
• More cost-effective than long hotel stays for extended periods.
• Lease terms are flexible and can adjust to your needs.
• Lake Zurich properties highlight comfort, convenience, and space.

How Does Corporate Housing Work

Corporate housing offers a temporary living arrangement that is fully furnished and equipped with the amenities needed for a comfortable stay. It’s designed for individuals who need to stay in a specific location for a longer duration, typically 30 days or more, whether for business, relocation, or other transitional needs.

Here’s a step-by-step guide on how corporate housing works:

1. Booking the Property

Selecting a corporate housing provider (such as a property management company or a specialized corporate housing service). These providers typically have websites or agents that offer listings with detailed information on available units, including pricing, photos, location, and amenities.

Some providers allow you to customize your stay based on your needs, such as choosing between apartments, houses, or condos. You can also specify the desired length of stay, number of bedrooms, and specific amenities (e.g., a gym or parking).

2. Lease Agreement and Terms

Most corporate housing properties require a minimum stay of 30 days. Some may offer flexibility for shorter stays, but the longer the stay, the better the rate.

Corporate housing leases are typically much shorter and more flexible than traditional leases. The lease might last for a few months and can sometimes be extended or shortened depending on availability.

The cost is typically paid monthly, but it can depend on the agreement. Most agreements include rent, utilities, and sometimes services like housekeeping, but these can vary.

3. Furnishings and Amenities

Corporate housing units are fully furnished with furniture, appliances, linens, cookware, and housewares, so you don’t have to worry about buying anything.

The property might include amenities like a washer/dryer, gym access, high-speed internet, cable TV, and even utilities like water and electricity. Some places may also offer additional perks like cleaning services, parking, or pet-friendly accommodations.

Unlike a hotel, corporate housing provides a more home-like environment with separate living areas, kitchens, and private bedrooms.

4. Checking In

When you arrive, the unit is typically ready for move-in, with all basic necessities set up for you. You’ll have access to your own kitchen, bathroom, and living spaces without the need for daily housekeeping (unless specified).

Depending on the provider, you might collect your keys in person at an office or receive them via a lockbox system, making it easy to check in at your convenience.

5. During Your Stay

You can live in the corporate housing unit as you would in any apartment, cooking your own meals, doing laundry, and enjoying the comfort of a private space.

Should any issues arise (e.g., maintenance needs or questions about utilities), the housing provider usually has a team to support you during your stay.

6. Check-Out and Move-Out

When your lease term ends, follow the checkout process laid out by the provider. This might include returning keys, ensuring the unit is clean, and sometimes scheduling a final walk-through.

If you decide you need to stay longer, you can contact the provider to extend your stay, depending on availability.

7. Additional Costs and Services

Some corporate housing providers include utilities like electricity, water, and internet in the rent, while others charge separately.

Many providers offer housekeeping services (e.g., weekly cleaning), but these might come at an additional cost.

If the property offers parking, it might be included or an extra fee may apply.

Many corporate housing providers allow pets, but you might need to pay a pet fee or deposit.

Corporate Housing Vs. Other Types of Short-term Housing

When you’re in need of temporary housing, whether for work or personal reasons, there are a variety of options available. Two popular choices are corporate housing and other types of short-term housing like extended-stay hotels, vacation rentals, and traditional hotel rooms. Here’s a breakdown of how corporate housing compares to these alternatives.

Corporate Housing

Corporate housing typically refers to fully furnished apartments or homes rented for extended stays (usually 30 days or more). These are often provided by companies, but can also be directly rented by individuals in need of temporary accommodations.

Features:

• Fully Furnished: Corporate housing units are fully furnished with all the amenities you’d find in a home, including kitchen appliances, cookware, linens, and furniture.
• Longer Stays: Ideal for stays of a month or longer, catering to business travelers, relocated professionals, or people between homes.
• More Space: Unlike a hotel room, corporate housing offers more living space, including separate bedrooms, living rooms, kitchens, and sometimes even outdoor areas.
• Cost-Effective for Long Stays: Although the daily rate may be higher than an extended-stay hotel, it’s often more affordable for longer stays due to its fully equipped nature, which reduces the need for dining out.

Ideal For:
Business professionals on extended assignments, individuals relocating for work, or anyone in need of a homier and more spacious environment during an extended stay.

Other Types of Short-Term Housing

• Hotels

Hotels are the most traditional short-term housing option. They are great for short stays, typically ranging from one night to a week. Hotels are often located in high-demand areas such as tourist destinations or business hubs.

Features:

• Basic Amenities: Includes essentials such as a bed, bathroom, TV, and often breakfast.
• No Kitchen Facilities: While some higher-end hotels have kitchenettes, most don’t provide full kitchen access, which may lead to higher dining costs.
• Limited Space: Hotel rooms are smaller and designed for short stays, which may feel cramped for long-term guests.

Ideal For:
Short stays, tourists, or business travelers needing accommodation for just a few nights or a week.

• Extended-Stay Hotels

Extended-stay hotels are a hybrid between traditional hotels and apartments. They offer accommodations for longer stays, typically a week to several months, with some added conveniences like kitchenettes.

Features:

• Kitchenettes or Full Kitchens: Provides more cooking flexibility than traditional hotels.
• Hotel-Like Services: Includes housekeeping, laundry facilities, and front desk services, but with longer-term stays in mind.
• Affordable for Moderate Length Stays: Generally, the longer you stay, the better the rate, but extended-stay hotels may still feel more like a hotel than a true “home.”

Ideal For:
Those who need extended stays with hotel-like services but want to cook their own meals and have more space than a standard hotel room.

• Vacation Rentals (e.g., Airbnb, VRBO)

Vacation rentals can range from rooms in someone’s home to entire houses or apartments. They’re typically found on platforms like Airbnb or VRBO and are often rented by the night or week.

Features:

• Variety of Options: You can choose from a variety of property types, ranging from shared spaces to entire homes.
• Home-Like Experience: Most vacation rentals provide home-like amenities like full kitchens, laundry facilities, and private living spaces.
• Less Standardization: The quality and service can vary greatly depending on the property owner and listing.

Ideal For:
Those looking for a more personalized, unique living experience or travelers who want a “home away from home.”

• Subleases

Subleasing is another option where you rent a property from someone who already has a lease. This can be an apartment, house, or even a room in a shared living situation.

Features:

• Fully Furnished or Unfurnished: The quality and setup will vary depending on the tenant you’re subleasing from.
• Potentially Lower Cost: Subleases often come at a more affordable rate compared to other short-term housing options.
• Less Flexibility: Subleasing contracts are often more rigid, with less support if problems arise during your stay.

Ideal For:

Those on a budget or who need a place to stay for several months with fewer frills.

Feature	Corporate Housing	Hotels	Extended-Stay Hotels	Vacation Rentals	Subleases
Length of Stay	30+ days	1-7 days	7 days to several months	1 night to several months	Several months
Space	More space (full apartment/house)	Small room	Room with kitchenette	Varies (full house, apartment, etc.)	Varies (depends on the sublease)
Amenities	Fully furnished, kitchen, laundry	Basic amenities	Kitchen, laundry	Varies	Varies
Privacy	High privacy	Low privacy	Moderate privacy	High privacy	Varies
Cost	Typically more affordable for long stays	Expensive for long stays	Moderate for longer stays	Varies	Typically cheaper
Ideal For	Business professionals, relocating workers	Tourists, short-term business travelers	Those needing longer stays with hotel services	Those looking for unique, homier stays	Those on a budget or needing flexible terms

 

Benefits of Corporate Housing

Comfort and Convenience

Corporate housing offers a far more spacious and comfortable environment compared to traditional hotel rooms. Unlike a hotel, which typically features a small, single-room setup, corporate housing includes a full apartment or house. This means you have access to separate living areas, kitchens, and bedrooms, making it feel much more like a home than a temporary place to stay. The added space allows you to settle in, unpack, and organize your belongings, giving you the ability to truly relax. The convenience of having a full kitchen allows you to prepare your own meals, saving money and offering a more homely atmosphere, especially for those on extended stays.

Cost-Effective for Longer Stays

For longer stays, corporate housing can be a more cost-effective option compared to booking a hotel room. Hotels typically charge daily rates that add up quickly, particularly if you need accommodations for a few weeks or months. Corporate housing, on the other hand, offers monthly rates that are often more affordable in comparison. Many providers also offer discounts for extended stays, so the longer you stay, the less you pay per night. This makes corporate housing a highly viable solution for anyone needing a comfortable, fully furnished place to live temporarily without breaking the bank.

Flexibility

One of the biggest advantages of corporate housing is the flexibility it offers. Unlike traditional leases that require a commitment of a year or more, corporate housing leases are much shorter and more adaptable. Most providers offer leases starting at just 30 days, but you can often extend your stay if needed or even shorten your stay if your plans change unexpectedly. This makes corporate housing ideal for people in transition, whether it’s due to work assignments, relocation, or temporary life changes. It provides the flexibility to accommodate varying lengths of stay without the commitment or hassle of long-term contracts.

Privacy

Corporate housing provides a level of privacy that’s hard to find in other types of short-term housing. While hotels and vacation rentals often involve shared spaces, such as lobbies, hallways, or even parking areas, corporate housing units are standalone properties or apartments. This gives you complete control over your living environment, offering peace and solitude after a long day at work or travel. You won’t have to deal with the noise or disruption that can sometimes come with staying in a hotel, and you can enjoy your stay with the full sense of privacy you would expect in your own home.

Less Stress

Corporate housing is designed to minimize the stress that can come with temporary living arrangements. Since these properties are fully furnished and equipped with all the necessary household items, you can move in without having to worry about buying furniture or setting up utilities. Everything, from appliances to cookware, is already in place. Some corporate housing providers also include services like regular housekeeping, which further reduces the burden of managing your stay. Whether you’re relocating for work, on a business assignment, or just need temporary accommodations, the ease and simplicity of corporate housing makes it one of the least stressful options available.

Who Is Corporate Housing Intended for

Corporate housing is primarily intended for:

Business Professionals

Individuals who need temporary accommodations due to business travel, project assignments, or temporary relocation. Corporate housing provides the space, privacy, and comfort required for long-term assignments or business trips that last more than a few days.

Relocating Employees

Companies often use corporate housing for employees who are moving to a new city or country for work, providing them with a comfortable and convenient place to stay while they find permanent housing.

Contract Workers and Consultants

Contractors, consultants, or freelancers working on long-term projects in a different city can benefit from corporate housing, which offers them a homelike environment during their assignment.

Military Personnel or Government Employees

Some government agencies or the military use corporate housing for employees on temporary duty or relocation.

Insurance Claimants

People who have experienced damage to their homes (due to fire, flood, or other disasters) may be provided with corporate housing by their insurance company while their property is being repaired.

Individuals in Transition

People who are in between homes, such as those waiting for their new home to be ready or moving to a new city without a permanent place to stay, often opt for corporate housing as a temporary solution.

Corporate housing is ideal for anyone needing a comfortable, fully furnished living space for longer stays, offering the convenience of home without the permanent commitment.

How Long Can You Stay in a Corporate Housing

Corporate housing is typically designed for stays of 30 days or more. However, the length of stay can vary depending on the specific property or provider. In general, these accommodations are ideal for long-term temporary housing and can range from a few weeks to several months.

Some providers may offer flexibility for even longer stays, depending on availability and the terms of the lease. If you’re looking for a place to stay for under 30 days, corporate housing may still be an option, but many providers will require a minimum stay of around 30 days.

How Much Does Corporate Housing Cost

The cost of corporate housing can vary widely depending on factors such as location, the size of the property, amenities, and the length of your stay. On average, you can expect to pay between $2,000 and $5,000 per month for corporate housing, though it can be higher or lower based on these factors.

Here’s a breakdown of what influences the cost:

1. Location

• High-Demand Areas: Corporate housing in major cities (e.g., New York, San Francisco, or Los Angeles) tends to be more expensive due to higher demand and cost of living.
• Suburban or Less Expensive Areas: In smaller cities or suburban areas, the cost is often lower.

2. Property Size and Type

• Studio or One-Bedroom Apartments: These are generally the most affordable, starting at around $2,000 to $3,000 per month.
• Two-Bedroom or Larger Properties: For more space, like a two-bedroom apartment or house, expect to pay between $3,000 and $5,000 per month, with some larger properties or luxury accommodations reaching even higher.

3. Length of Stay

• Longer stays may come with discounted rates, especially if you’re booking several months at a time. Many providers offer better rates for commitments of 6 months or more.

4. Amenities and Services

• Properties with higher-end amenities (e.g., gyms, pools, concierge services) may charge higher rates.
• Some providers include utilities, internet, cable TV, and housekeeping, while others may charge extra fees for these services.

5. Time of Year

• Just like regular rental properties, demand for corporate housing may fluctuate with the season. In busy business hubs, prices may rise during peak seasons, such as the start of the year or when major events are taking place in the area.

Other Considerations

• Utilities: Some corporate housing providers include utilities in the monthly price, while others charge separately for electricity, water, and internet.
• Cleaning Services: Regular cleaning services may also be included or available for an additional fee.

Corporate housing is generally more expensive than renting a traditional apartment but is a more cost-effective option than staying in a hotel for extended periods. The cost also provides the benefit of flexibility, comfort, and a fully furnished living space.

Corporate Housing Options in the Chicago Suburbs

If you’re searching for temporary housing in Lake Zurich, you’ll find a variety of options that cater to different preferences and needs. Here are two standout properties, each offering unique benefits to make your stay comfortable and convenient.

1. 975 Old Mill Grove Rd, Lake Zurich, IL 60047

This spacious 4-bedroom, 3-bathroom home offers ample living space across four levels, making it an ideal choice for families, corporate professionals, or those in need of transitional housing. Whether you prefer a furnished or unfurnished property, this home provides flexibility to suit your style and needs.

Located in Lake Zurich, it’s an excellent option for those dealing with Additional Living Expense (ALE) insurance claims, corporate stays, or families in transition. The property is equipped with essential amenities like in-unit laundry, high-speed internet, and pet-friendly options, ensuring comfort for all family members, including pets.

With flexible lease terms and availability starting 10/1/24, this home offers the convenience of tailoring your stay based on your specific requirements.

Key Specifications:

• Bedrooms: 4 
• Bathrooms: 3 
• Living Area: 250m² 
• Floors: 4 
• Garage: 2-car garage 
• Ceiling Height: 4 meters 

Included Utilities:

• All utilities (Electricity: 2,500 W) 
• Air conditioning and heating 
• Wireless internet 

Amenities & Features:

• Fully furnished (if preferred) or unfurnished 
• Swimming pool and gym access 
• Local park and mosque nearby 
• Apple TV included 
• Spacious garden and shower facilities 
• Pet-friendly 

Parking & Accessibility:

• 2-car garage 
• Free zone parking 

2. 375 Pebblecreek Dr, Lake Zurich, IL 60047

This 3-bedroom, 2-bathroom home provides 250m² of living space in the highly desirable Lake Zurich area. Designed to offer both comfort and style, the property features modern furnishings and decor, creating a cozy yet contemporary atmosphere.

Fully furnished and with all utilities included in the rental price, this home makes for a hassle-free living experience. High-speed internet is also provided, ensuring reliable connectivity for both work and personal use.

The spacious yard offers a private outdoor space, perfect for relaxation or hosting gatherings. With flexible lease terms, this property caters to various rental needs and lifestyles, making it a great option for a temporary stay.

Key Specifications:

• Bedrooms: 3 
• Bathrooms: 2 
• Living Area: 250m² 
• Floors: 3 
• Garage: 2-car garage 
• Ceiling Height: 4 meters 

Included Utilities:

• All utilities (Electricity: 2,500 W) 
• Air conditioning and heating 
• Wireless internet 

Amenities & Features:

• Fully furnished with modern decor 
• Swimming pool and gym access 
• Local park and mosque nearby 
• Apple TV included 
• Spacious garden and shower facilities 

Parking & Accessibility:

• 2-car garage 
• Free zone parking

Conclusion

Corporate housing offers a flexible, comfortable, and cost-effective solution for those in need of temporary living arrangements. Whether for business assignments, relocation, or any transitional period, corporate housing provides the space, amenities, and convenience that traditional hotel stays often can’t match. 

The properties highlighted in Lake Zurich, such as 975 Old Mill Grove Rd and 375 Pebblecreek Dr, exemplify the key benefits of corporate housing—spacious living, modern furnishings, flexible lease terms, and fully furnished options. These homes cater to various needs, ensuring a stress-free and home-like environment during your stay. If you’re seeking a reliable and hassle-free short-term housing solution, corporate housing is undoubtedly an option worth considering.

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