Corporate Apartment Leases: How to Find Them [Guide]
A corporate apartment is a rental unit that is designed for use by workers in need of temporary housing during an extended stay. These turnkey units are typically fully furnished and rented under a single rent payment with utilities included.
In this guide, we’ll cover everything you need to know about corporate apartments, including:
What is a Corporate Apartment Rental?
Corporate housing or corporate apartments are fully furnished rental units with flexible leasing options for employees, students, contractors, digital nomads, and vacationers. Anyone can rent a corporate housing apartment.
In addition to being fully furnished apartments, corporate housing typically includes the cost of utilities within the rent price, so renters will have a single housing bill.
When renting a corporate apartment, you’re not confined to the standard 12-month lease agreement. Better yet, you don’t have to go through the hassle of furnishing an entire apartment, financially or otherwise.
Corporate housing skews toward the luxurious. The furnishings, amenities, and property are all of higher quality than what you might expect at other apartments.
In short, corporate housing provides the perfect temporary home for any renter.
Pros and Cons of Corporate Apartments
Like all units, corporate apartments have both pros and cons that may greatly affect your decision to rent them.
Luckily, we’ve got you covered. Here’s a breakdown of the pros and cons of corporate apartments.
Pros of Renting a Corporate Apartment
The advantages of renting a corporate lease apartment include flexibility, cost-effectiveness, and the fact that these units are move-in ready. Here’s a more in-depth look at the pros of renting a corporate apartment:
- Flexibility: Many corporate apartments offer month-to-month leases or shorter lease terms. They are perfect for many situations, whether it’s a long vacation or heading for a massive corporate takeover.
- Cost-effective: While corporate apartments may rent for higher rates than traditional apartments when you factor in the cost of moving house and furnishing an entire apartment — it’s a downright steal!
- Move-in Ready: In a fully furnished corporate apartment, you don’t need to cart a ton of things across the country every time you move. Simply fill the refrigerator and unpack your essentials.
Cons Renting a Corporate Apartment
The drawbacks of corporate housing include higher rent prices, short-term lease requirements, high-moving costs, and renting sight-unseen. Here’s a closer look at the cons of renting a corporate apartment:
- High Rent Prices: Fully-furnished luxury living will cost you. Corporate apartments typically boast rent prices that are substantially higher than traditional rental units.
- Short-Term Lease Options: If you intend to rent a corporate apartment, it’s important to be aware that short-term leases can be annoying to deal with. If you want to stay longer for whatever reason, you may have a hard time renewing your lease if your apartment is in high demand or has already been rented out to the next person. Remember, corporate apartments are typically always seen as temporary housing and not a long-term solution.
- High Moving Costs: Whichever way you slice it, moving around multiple times per year isn’t exactly cheap. Renting corporate apartments repeatedly really only works if you earn enough to support the higher rent and additional moving costs.
- Renting Sight Unseen: In a lot of ways, renting a corporate apartment can be like booking a hotel when planning to travel. You may not be able to tour the apartment in person in the same way you would with a traditional unit. This means you’ll have to rent sight unseen which comes with its own risks.
How to Find Corporate Apartments Near You
If you’re in the market for a corporate apartment, then you’re in luck. These units are easy to find across major cities in the US.
If you’re looking for a corporate apartment on Apartment List, simply filter your search down to short-term leases and furnished apartments in the city of your choice.
Looking for a step-by-step guide to finding an apartment? Check out our in-depth guide on how to find an apartment.
Whether a corporate apartment is right for you depends wholly on your situation. Corporate apartments are great for renters looking for reliable, affordable, short-term accommodation. However, they aren’t usually the best option for anyone else.
That said, simply doing your research and being sure to rent units that are a good fit for you can help you land a great unit.
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