How Furnished Apartments Help You Save Money

If you’ve traveled for work for an extended period, lived the wandering spirit life, or have needed to live in one spot semi-permanently, then you know that the cost of hotels and Airbnb-like arrangements can not only get expensive but also don’t always feel like home. That’s where corporate apartments come in. There’s nothing quite like savings that come with renting furnished apartments!

Corporate apartments—what are those?

No, it’s not a place to hold company meetings, and it’s definitely not an office space you live in. A corporate apartment is a turnkey—fully furnished—apartment. Corporate apartments got their name from their popularity with business professionals who travel often. The arrangement provided them with a home away from home while on business.

Of course, corporate apartments have become an invaluable resource and are great for any length of stay. Even better, they’ll save you money in the long run. You can save up to 50% by choosing a corporate apartment over a hotel room or Airbnb.

Comparing Expenses

Airbnb is intended for short-term stays. Though they have extended their services to include monthly stays, short-term has been the Airbnb way since the beginning. Because of this, hosts charge per night (with a monthly discount included if need be).

On the other hand, corporate apartments were originally intended for long-term stays and charge monthly by default. This setup allows for additional savings when you opt for a furnished apartment.

Fees for corporate apartments are typically transparent, too. An Airbnb can come with all sorts of hidden fees if you aren’t careful. When you’re renting a corporate apartment for a business trip, your company may reimburse you for the costs or cover the cost entirely.

Now, if you thought going to an Airbnb was a cheaper alternative to hotels, then you can imagine the savings by choosing corporate over a traditional hotel.

Exact Pricing

The best way to see exact corporate housing costs is to request quotes from corporate housing agencies, put together a mock reservation on Airbnb, and call the hotel itself. However, the average cost of a corporate apartment per night is $125/day. But remember that this arrangement usually operates on a monthly lease, so going by a “per day” number isn’t 100% accurate.

Hotels and Airbnbs, on the other hand, can range anywhere from $70/day to $550/day. It all depends on where you’re staying. And if you end up in some of the world’s most expensive places, like San Francisco, Copenhagen, or Tokyo, expect to pay top dollar. You'll also most likely end up dining out, paying for parking, and going to the laundromat if you’re in a large city like Manhattan. 

Amenities Everywhere

Having already established that corporate apartments are fully-furnished, think of what you’ll be able to save in terms of outside expenses. Let’s start with the obvious: the kitchen.

Corporate apartments come with their own kitchen. That means you can eat in more and take out less. Next, you don’t always have to worry about going to a laundromat, as you would if staying at a hotel. Yes, Airbnbs may have a laundry room and a kitchen, and in that, corporate apartments and Airbnbs are equally yoked. But, you don’t have to share anything. With corporate apartments, you get a guaranteed private apartment.

Another thing to consider is if you're staying at a corporate apartment while looking for permanent housing. There's no need to purchase brand new furniture, pay to have it moved in, and pay again to have it moved out.

Are extended-stay hotels the same as corporate housing?

No. Extended-stay hotels are still hotels, and you won’t find nearly as many amenities included in those arrangements. Corporate housing costs include everything you need; they are all-inclusive. Your utilities are included (as with hotels), but you generally get more square-footage, full-sized pantries, kitchens (extended-stay hotels give you kitchenettes), and spare rooms.

Why should I stay at a corporate apartment?

As mentioned before, corporate apartments are not just for the traveling professional, though these apartments were originally intended to make their stay easier. Corporate apartments are a smart choice for anyone who needs an extended stay, including those people who are moving to a new town or city and don’t have permanent housing just yet.

This living arrangement also allows someone the opportunity to get to know a community. Hotels and Airbnbs are a revolving door of guests, and you can’t really get to know your neighbor. If you’re in a corporate apartment, especially if that apartment is in a building dedicated to them, you’re likely to build relationships with the community that lives there.

A Professional Home Away from Home

If you need an extended-stay solution on a budget, look for corporate apartments. Fully furnished and welcoming, this is the temporary living arrangement you need. And who knows, maybe you’ll never want to leave!