Are you the owner of a property or two that you think of as corporate housing? Perhaps you describe the properties as furnished rentals? As we have discussed in the past (What Is the Difference Between Furnished Housing vs. Corporate Housing?), it’s crucial to understand the subtle differences between corporate housing and furnished rentals.
Jeremy Blackburn, CEO of CHBO says this of the matter, “The term, furnished housing has gained a lot of traction over the last few years as a catch all for any style of renting involving a property that’s turnkey.” Yet, he warns that this umbrella term is not enough to distinguish between the expected quality of corporate housing and what many furnished rentals might deliver. After all, there are corporate housing industry standards and any properties marketed as such must meet, or exceed those standards.
Understanding Corporate Housing
Consider that corporate housing is sought after by executives and professionals used to a certain standard of living. It is not just about the quality of the furnishing and the thought that goes into decorating or designing a space. It is also about the ongoing needs that corporate rentals can provide. From Wi-Fi and cleaning services to round the clock communications options with the housing provider, a corporate client will see the term “turnkey” very differently.
Understanding Furnished Rentals When you are marketing furnished rentals, it could be that your ideal clients are not actually executive or corporate level renters. The furnishing and services that a more general “furnished” unit supplies may not meet the anticipated standards that a frequent, executive traveler requires. This sort of rental may be a charming spot to visit, but if it is unsuitable for months of use by a corporate traveler as they find it upon arrival, it is not their idea of turnkey.