The Many Meanings of Corporate Housing from the Corporate Housing Providers Association

Real Estate Market Growth

In 2013, we posted a brief article about the revised definition of corporate housing from the Corporate Housing Providers Association or CHPA. They are the only trade association that is exclusively dedicated to the corporate housing industry. The Corporate Housing Providers Association “advances the highest standards in business and professionalism; provides valuable insight, knowledge and resources to the industry; and increases visibility among related industries.”

The group also focuses a lot of attention on education, networking, and information sharing about corporate housing issues, and while the Corporate Housing Providers Association did author that very formal definition of corporate housing, it is helpful to know their more casual definition.

As they said in a recent publication, it is “everything you need to live away from your permanent home. As a full-service solution, corporate housing offers the comforts of home coupled with full-service amenities and handled through the convenience of a committed professional.” They go on to expand upon the definition by explaining just how this niche segment of accommodation has evolved and seems to have remained ahead of “changing traveler needs”.

Corporate house for rent

For instance, in that less formal definition, the Corporate Housing Providers Association says that “Current trends include such items as flat-screen TVs, premium cable and Wi-Fi, iPod docking stations, etc. A professional provider company ensures the accommodations are move-in ready – the client just shows up with their personal items.”

So, although it is called everything from a furnished apartment or executive rental, ultimately the best corporate housing is a property that has been decorated and furnished in a way that ensures a turnkey experience for the traveler. Since most are taken for 30 days or more, it must meet every guest’s needs on every level. This can mean all furniture, linens, housewares, and electronics (including utilities). Because of that, CHPA says that any “professional corporate housing company is knowledgeable about their properties and communities, with a network in place to get the customer what they need.”

After all, this sort of housing is used for a range of purposes. It could be close to headquarters and put to use on a nearly constant basis. It could be used to attract talent or as part of relocations or even during training. The point is that there is no single, solid way to define this sort of housing. Paying attention to the ways that groups like CHPA define it is a good way to ensure your housing solutions are up to date and capable of attracting the right clients.

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