What is the difference between serviced apartments and managed corporate housing?

Not all corporate housing is created equal. Let’s discuss…

Let’s say you’re family is moving from Cleveland to Minneapolis. You need a home with four bedrooms, a yard for the family dog and a neighborhood with good schools. Is a small downtown apartment building the right place for you?

Now let’s say your Atlanta-based consulting firm just got a gig in San Francisco for six months and 10 single consultants need to temporarily reside in San Francisco during that time. Are residential houses spread out through the city a good housing choice for them?

It’s clear that these two scenarios require very different kinds of temporary housing. Let’s explore the two types of housing available:

Serviced Apartments: Service companies rent individual apartments. They then furnish and equip those apartments and turnaround to rent them out as furnished apartments. A close relative of serviced apartments are “apartment companies,” which own or manage large apartment complexes. Inside the apartment communities they furnish a group of rentals and market them as corporate housing. A company in need of many corporate apartments in one place would benefit from this type of housing.

Managed Housing: Managed corporate housing is where real estate property management companies manage properties that are individually owned and furnished by homeowners and/or real estate investors. An executive with a family that is relocated to a new city would likely enjoy living in a home and neighborhood setting vs corporate apartments.

As you can see, not all corporate housing is the same, so it’s important to know and understand your options and decide wisely!

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