11 business travel or relocation , are better served with a fully furnished apartment , which offers more comfort and flexibility . We are definitely seeing a growing demand for apartments from corporate travel now to accommodate stays that would have previously been served by hotels .”
What about alternative accommodations like Airbnb ?
In addressing the needs of both short-term business travelers and long-term assignees , a variety of accommodation options are considered . While Airbnb offers flexibility and a homely experience , Robert warned that its use comes with risks . “ There are regulations in certain cities that restrict Airbnb stays to a minimum of 30 days , and many corporate clients avoid Airbnb due to the lack of vetting and duty of care concerns ,” he explained .
Suite hotels and serviced accommodations , by contrast , are increasingly becoming the go-to choices for both short and long-term stays . “ Suite hotels provide flexibility for short-term stays with amenities like kitchenettes and laundry , while serviced apartments are ideal for longer stays , offering the comforts of a home with hotel-like services .”
Short-term stay requests : Challenges and Solutions
The rise in short-term stay requests is reshaping the mobility landscape , particularly as more companies look for cost-effective , flexible solutions for their employees . However , several challenges must be addressed when managing these stays .
Dealing with 30-day minimum legislation in major cities
Many major U . S . cities , such as New York and San Francisco , have strict legislation that imposes a 30- day minimum stay for short-term rentals . This poses a significant challenge for companies needing to accommodate employees on shorter assignments . Robert explained , “ in cities with 30-day minimum laws , the only viable option is often suite hotels . These hotels offer short-term flexibility , but finding available inventory can be challenging .”
The solution , Robert suggested , lies in building relationships with suite hotel providers and investing in new product offerings that can cater to both shortand long-term stays . “ We ’ re seeing an evolution in the corporate housing space in the U . S ., but it will take another three to five years before we see a significant increase in flexible inventory .”
Credit : Synergy
Lack of furnished apartment product that can transition to short-term stays
Another challenge is the lack of furnished apartment product that can easily transition to short-term stays . Many multifamily buildings impose corporate caps on the percentage of units that can be used for corporate housing . “ These caps make it difficult to secure enough inventory for short-term stays , particularly in highdemand cities ,” Robert said .
To address this issue , Robert emphasized the importance of building relationships with multifamily property managers and expanding corporate housing networks . “ It ’ s a relationship-driven business . We ’ re constantly working to secure more flexible inventory by partnering with property owners and developers .”
Assignees are finding permanent housing sooner — what does this mean for Corporate Housing ?
Technology is playing an increasingly important role in the mobility space , allowing assignees to find permanent housing faster than ever before . Virtual tours , online listings , and advanced relocation tools are reducing the need for extended corporate housing stays .
“ We ’ re seeing assignees finding permanent homes much sooner ,” Robert said . “ In the past , people would go on pre-assignment trips to look at schools and properties , but now they can do it all virtually before they even arrive . This has a huge impact on the need for corporate housing .”
As a result , companies are adjusting their corporate housing policies to account for shorter stays , and many are reducing the number of days offered for temporary