Everybody talks about corporate housing, executive rentals and executive apartments but very few actually have an idea of what it really is.
In fact, so many myths have been surrounding what appears to be the newest concept in business travelling - staying at luxury apartments that have the amenities of a home away from home but doesn't cost you the earth.
No wonder more and more weary travelers are growing every wearier of cramped and impersonal hotel rooms.
Among the many myths that corporate housing has debunked, the most popular are that one, it is just an extended stay hotel referring to itself by another name, that it is only for business travelers and that all corporate housing and leasing agents are the same.
First off, executive apartments and extended stay hotels are two different accommodation types and both are best as short-term rental options but the similarities end there.
Executive rentals offer full customer service and are usually for those who need a place to stay averaging 30 days or more.
Executive apartments are fully-furnished and usually range from studio type dwellings to roomy luxury apartments with a maximum of four bedrooms.
They come with fully-equipped kitchens, private baths, linens, housewares, electronics and utilities.
They also provide two things that hotels can't and these are more space and privacy.
A typical executive apartment can measure up to 130 square meters which is double the usual hotel suites.
But what takes the cake is the savings companies get from putting up their constantly travelling employees or newly-relocated executives in these corporate apartments - they save as much as approximately 50% a day, and the rates already include internet access, local phone calls and lower tax.
To be more precise about the differences between the two, corporate housing has been characterized as providing temporary housing solutions amidst a stable residential setting while extended stay hotels, are temporary living arrangements amidst a commercial setting, usually populated by transient guests.
It has also been touted to be something meant only for business travelers due to the fact that this has been constantly used as a short-term rental option for relocated executives, as places to stay at while their homes are being sold.
Because the real estate market was affected by the unstable economy, it has dawned upon them that selling their homes may take a while and as such, corporate housing became even more of a necessity.
It has certainly alleviated the mental and financial toll such a transition can have on the employee or employees being relocated.
But again, it is not only designed for corporate executives.
It is also designed for traveling medical personnel, military personnel, displaced homeowners due to insurance issues, professional athletes who get traded from city to city, theatre actors who are touring the country for their performances and more.
As long as you need to stay in a particular place for more than a month, these lodgings are best for you.
And lastly, there's that myth about corporate housing and leasing agents being one and the same.
First of all it is important to note that there are three types of corporate housing companies, the first one being service companies, which furnish apartments and offer them up for rental.
The second type, known as apartment companies, own and manage apartment complexes and rent out some of their units as executive rentals.
The third one, the management companies, manages properties owned by individual real estate investors.
They offer rentals in residential settings and cater to exclusive clientele.
It is critical for relocation specialists to understand the vital differences between the three in order for them to address the company or individuals' needs as accurately as possible.
Corporate housing has and will always be the best alternative companies have to hotel living because after all, even if you could afford the finer things in life, wouldn't it be nice to get more for what you spend?
In fact, so many myths have been surrounding what appears to be the newest concept in business travelling - staying at luxury apartments that have the amenities of a home away from home but doesn't cost you the earth.
No wonder more and more weary travelers are growing every wearier of cramped and impersonal hotel rooms.
Among the many myths that corporate housing has debunked, the most popular are that one, it is just an extended stay hotel referring to itself by another name, that it is only for business travelers and that all corporate housing and leasing agents are the same.
First off, executive apartments and extended stay hotels are two different accommodation types and both are best as short-term rental options but the similarities end there.
Executive rentals offer full customer service and are usually for those who need a place to stay averaging 30 days or more.
Executive apartments are fully-furnished and usually range from studio type dwellings to roomy luxury apartments with a maximum of four bedrooms.
They come with fully-equipped kitchens, private baths, linens, housewares, electronics and utilities.
They also provide two things that hotels can't and these are more space and privacy.
A typical executive apartment can measure up to 130 square meters which is double the usual hotel suites.
But what takes the cake is the savings companies get from putting up their constantly travelling employees or newly-relocated executives in these corporate apartments - they save as much as approximately 50% a day, and the rates already include internet access, local phone calls and lower tax.
To be more precise about the differences between the two, corporate housing has been characterized as providing temporary housing solutions amidst a stable residential setting while extended stay hotels, are temporary living arrangements amidst a commercial setting, usually populated by transient guests.
It has also been touted to be something meant only for business travelers due to the fact that this has been constantly used as a short-term rental option for relocated executives, as places to stay at while their homes are being sold.
Because the real estate market was affected by the unstable economy, it has dawned upon them that selling their homes may take a while and as such, corporate housing became even more of a necessity.
It has certainly alleviated the mental and financial toll such a transition can have on the employee or employees being relocated.
But again, it is not only designed for corporate executives.
It is also designed for traveling medical personnel, military personnel, displaced homeowners due to insurance issues, professional athletes who get traded from city to city, theatre actors who are touring the country for their performances and more.
As long as you need to stay in a particular place for more than a month, these lodgings are best for you.
And lastly, there's that myth about corporate housing and leasing agents being one and the same.
First of all it is important to note that there are three types of corporate housing companies, the first one being service companies, which furnish apartments and offer them up for rental.
The second type, known as apartment companies, own and manage apartment complexes and rent out some of their units as executive rentals.
The third one, the management companies, manages properties owned by individual real estate investors.
They offer rentals in residential settings and cater to exclusive clientele.
It is critical for relocation specialists to understand the vital differences between the three in order for them to address the company or individuals' needs as accurately as possible.
Corporate housing has and will always be the best alternative companies have to hotel living because after all, even if you could afford the finer things in life, wouldn't it be nice to get more for what you spend?