What Is a Monthly Corporate Housing Fee?

A monthly corporate housing fee is a charge that covers the cost of providing furnished temporary housing for business travelers and relocation workers. It typically includes all utilities, furniture, housewares, cable TV, internet access and other amenities, as well as cleaning services and laundry facilities. The costs for this type of housing are typically significantly less than staying in a hotel and allow companies to offer more amenities to their employees.

The exact price of a corporate housing will vary depending on the location, size, and quality of the property. The rates are usually based on a month-to-month basis, but they can decrease significantly when the client commits to three, six, nine, or twelve months. They will also tend to be higher in urban areas like Los Angeles, and lower in suburban or rural regions.

In addition to the standard costs of furnishing and supplying a fully equipped apartment, there are other operational expenses to consider. Utilities and maintenance fees are often the largest cost for this type of rental. These expenses include the cost of electricity, gas, water, and other utilities for each temporary housing unit. In addition, these fees will cover the cost of routine maintenance and any unforeseen repairs that may be required during the stay.

Another expense to consider is the cost of insurance premiums. Corporate housing providers are often required to carry general liability and property damage insurance. In addition, some insurers may also require a fidelity bond or other financial security to be in place. This cost can add up quickly and should be taken into account when calculating the cost of a monthly corporate housing fee.

A high-quality corporate housing provider will also provide excellent customer service to their clients. This means that if there is ever a problem with the apartment or any of the amenities, the company will be there to solve it immediately. This type of service is often a selling point for companies that want to ensure that their employees are comfortable during the transition to a new city or country.

One of the most important aspects of running a successful corporate housing business is to build strong connections with businesses. This will help you get referrals, and make it easier to secure long-term leases. You can start by reaching out to large companies and networking with HR or accounting departments. Once you’ve developed a good relationship, you can work with them on a regular basis and avoid wasting time introducing yourself to new clients. In addition, this will save you money in the long run, as businesses prefer to stick with their established vendors rather than switching suppliers without justification.