What is an Executive Rental?
What is an executive rental? Read our full guide to see if this rental type is a fit for you and your employees.
With a cozy bed, well-stocked refrigerator, and a kitchen table to enjoy your morning coffee, executive short term rentals offer a lot in terms of comfort.
But exactly what is an executive rental, and is it a fit for you and your employees?
If you’re new to the term and aren’t quite sure where to begin, this guide is for you. We’ll cover the basics of executive rentals, who uses them, how much they cost, and what they include. From there, you can decide whether or not this type of rental makes sense for your team.
An executive rental, also known as corporate housing, is a fully furnished residential property. These properties can include apartments, condominiums, and homes, and are typically rented for 30 days or longer. Often, rentals are located in cities or major metropolitan areas where there’s a high demand for jobs (like New York, the Bay Area, and Los Angeles) but they can be found anywhere.
From a company standpoint, executive rentals have risen in popularity, as they tend to provide a more cost-effective way to house temporary employees or contract workers. Extended stays in hotels can get pricey, and don’t always come with perks that contribute to employee well-being (like a full kitchen and fast WiFi for working). With the introduction of executive furnished apartments, employees can have the best of both worlds—a job that allows them to travel and a place they can call home while they do so.
Corporate housing and executive short term rentals started as a housing option for company employees, which still makes up a significant portion of its customer base today. However, today’s executive rentals are used by everyone from students and vacationers to individuals who are in the middle of a move and need a place to hunker down for a while.
Essentially, anyone who needs a comfortable home-away-from-home for an extended time is a prime candidate to stay in executive short term rentals.
From traveling nurses to students, professionals in the medical field are known for utilizing executive furnished apartments. Not only can corporate housing often be found near major medical centers, but it ensures a comfortable stay with the perks of home. A good night’s sleep, a place to cook, and a clean bathroom with all the essentials are important to us all, but especially after a long night working at the hospital.
Construction workers often travel, as many jobs are temporary and last for specific amounts of time. This makes them a prime group for executive short term rentals, especially when these rentals are located close to their job sites. The days can be long, but having a cozy, clean home to come back to ensures they’re happy, well-rested, and ready for the week ahead.
With the remote workforce on the rise, many people now can work anywhere they want. Whether you’re a freelancer just looking to bring your laptop along and adventure in a new place, or on temporary assignment away from home, executive short term rentals are the perfect solution.
Military employees often have to relocate for work, as do government employees. Both of these sectors utilize executive furnished apartments to make a temporary or permanent move go more smoothly. In the case of those relocating with family, these types of rentals help provide kids and parents with stability while searching for their new home.
Films, concerts, and theater performances often require workers to be away from home for extended amounts of time. Long gone are the days when workers only had the option of living out of a suitcase in their hotel room. Today, executive furnished apartments contribute to an employee’s work-life balance and provide a sense of normalcy when on the road and away from family and friends.
Today, there are plenty of internships that provide housing. Some of these options for hous ing are in dorms or on-site, while others turn toward executive furnished apartments to supplement their housing needs. From engineering careers to marketing professions, if you’re considering hiring a qualified intern from another location in the country or world, offering an executive rental may be the way to go.
Homeowners who have been displaced due to an emergency or natural disaster (like a flood or fire) will often use an executive rental to put down temporary roots. In addition, individuals and families who have relocated and are in the process of building their new home may turn toward corporate housing while they move through the planning and construction phase.
If you’re planning to spend 30 or more days exploring a new city, executive furnished apartments offer all the comforts of home. Repeated nights in a hotel can get costly, but corporate housing gives a taste of the local life and makes it easier when you want to eat at home or catch up on work or laundry.
The cost of executive furnished apartments depends on a variety of elements. Whe n you’re on the hunt for executive short term rentals for you and your employees, chances are budget is a factor. Here are some things to consider as you look into corporate lodging rates and decide what’s best for you and your team.
In general, the larger a place is, the more expensive it may be. However, this isn’t always the case with corporate rentals. You may find a three-bedroom house in the suburbs of New York has a lower per-night rate than a studio in the heart of Manhattan. If your employees are traveling solo, chances are they’ll be fine in a smaller spot. However, if your company allows them to travel with family members, they’ll likely need more space to spread out. Finding the balance between size and location will help you fine-tune what costs may look like.
Across the United States, prices for a standard executive rental fluctuate. A rental in the midwest, for example, will be less expensive than a rental in a place like San Francisco. Within the location itself, you’ll probably find that rentals on the outskirts of the cities are cheaper. Location and seasonality can go hand-in-hand, too. Rentals on the beach in Los Angeles will be cheaper in the winter than they are during the height of summertime. These are all good things to consider before you dive into the corporate housing hunt.
The price of executive furnished apartments has a lot to do with what sort of amenities are offered. Some rentals may have a pool or fitness center, while others may come equipped with blazing fast WiFi.
Each executive rental offers something different for the prospective renter. Some executive rentals pride themselves on having pet-friendly corporate housing while others are made for the modern-day digital nomad, with WiFi and all the best ergonomic furniture.
When you’re on the hunt for executive furnished apartments for your employees, a good place to start is to ask them what’s important. Some would rather have a gym, where they can break a sweat before the workday begins. Others dream of luxury linens and all the best bath products to soothe their stresses after a day at the office.
If you can do so, connect with your employees on what’s most important, then come up with a game plan based on availability, budget, and amenities.
To give you a feel for what an executive rental property might offer, here’s what we bring to the table with Zeus:
- Premium linens
- Coffee maker
- On-site washer and dryer
- Lightning-fast WiFi
- Kitchen must-haves
- Smart cable TV
- Top-rated mattresses
Like other executive furnished apartments, we want to make our renters feel at home wherever life takes them. We offer flexible cancellations, easy extensions, and no hidden fees to book with confidence.
Now that we’ve answered what is an executive rental, you can fine-tune what you’re searching for and find the perfect place to call home (even if it’s temporary). There are a multitude of workers who utilize the flexibility and convenience of corporate housing from construction companies to medical professionals.
If your company needs housing anywhere in the U.S., remember that the Zeus team and our collection of homes are here for you. With next-level care, thoughtful designs, and top-notch customer service, we promise to provide executive short term rentals that exceed your expectations.