If you need to temporarily relocate for work, you want the process to be as easy as possible. However, as you may know, if you’re only going to be gone for a month or two, the action of finding a place to live can be overwhelming. While there are a few different options you can choose from, not all of them are ideal. Airbnb and other home sharing sites come with a range of hidden costs, hotels never feel like home, and if you want to set a place up on your own, you’ll have trouble finding a property that offers short-term leasing for less than 90 days.
One of the best ways to ensure that you stay productive and comfortable is to rent a fully furnished apartment from a corporate housing provider. Whether you’re looking for short-term furnished rentals or long-term bookings, you should understand what goes into the price you’re paying. To help you get some clarification, here’s how to analyze the cost of renting a fully furnished apartment.
What’s Included in the Price?
The first thing you need to understand is what’s included in your cost. Many fully furnished apartments offered through corporate providers include everything you need. Instead of putting in excessive amounts of energy to find furniture rentals, start and stop services, and sort out parking, you’ll be provided with included amenities, necessities, and utilities.
For the stated cost, most corporate providers will include the rent itself, all utilities, cable TV, WiFi, all of the furniture, and houseware, and parking. Professional housekeeping services are always a standard when using reputable corporate housing providers. One thing that guests love about these inclusions is that they’re all taken care of. All you need to do is show up and you’ll be ready to go. Just make sure that you always look for the Corporate Housing Providers Association member logo.
This convenience is something that cannot be bought, which is why many guests prefer corporate housing to popular rental sites, hotels, or short-term unfurnished leases. You don’t need to call the cable company, furniture company, or utility companies—you just need to show up and you’re ready to start doing what you came to the city to do.
Analyzing the Overall Price and Inclusions
The inclusions themselves are a great way to simplify and streamline your move, but some people are still curious about pricing—especially in comparison to other short-term leasing options. The city of Chicago rarely has unfurnished lease options for fewer than 90 days; however, if you’re able to find one there are many things you need to consider.
Short-term leasing options are usually more expensive. While the rent for a 12-month apartment may be $2,600 per month it could raise by $500 to $1,000 per month in short-term leases. This is due to the high cost of apartment turnover for landlords and property owners.
In addition, when looking for your own unfurnished short-term apartment, you will need to pay the utilities, find a good furniture rental company, sign up for cable TV and WiFi, rent or buy houseware, and take care of any associated moving costs. You have to do this 100% on your own.
After all is said and done, this price adds up quickly—especially if you want a custom furniture package. If you’re looking for a one-bedroom apartment in the Gold Coast area for roughly 90 days, doing it on your own would cost upwards of $5,500 plus all of the added time and energy.
When you opt for a fully furnished apartment through a corporate housing provider, you’ll pay about $4,000. This is a significant difference in price, not to mention the work involved on your behalf. However, the even bigger savings comes if you need the apartment for less than 90 days because you only pay for the days you stay. In this situation, all you need to do is show up, sign, and pay your rent.
Cleaning Fees and Housekeeping
Corporate apartments are set up and maintained in professionally operated residential communities throughout highly sought out areas of an urban or suburban area. In an effort to ensure that the apartments are turnkey, professional cleaning companies are employed to thoroughly sanitize each apartment both before and after it’s inhabited. This includes shampooing, deep cleaning the apartment, professionally laundering bedding and bath, and replacing necessary items. While bi-weekly cleanings used to be included, they’re now offered as an add-on service. This allows many corporate housing companies to lower their rates and maintain a safe environment by limiting exposure during the COVID-19 pandemic.
For those considering Airbnb or individual short-term apartments, you’ll need to pay a separate cleaning fee in addition to your rent.
Billing Cycle Differences
Another important aspect of analyzing the cost of fully furnished apartments is the billing cycle. This is especially important when comparing with Airbnb and even between corporate housing providers. The norm for billing cycles differs depending on the company, so make sure that you understand what your options are. For example, some companies offer a daily rate, some do a weekly rate, but corporate housing, works on either a monthly billing cycle or a 30-day billing cycle.
Credit Card Fees
While almost every company will charge a credit card fee, you should know what this cost is and how it’s appropriated on your bill. Credit card companies charge merchants about 2.5-3% of every transaction. Most merchants charge their customers this fee but fail to explain what it is. While Airbnb doesn’t have a line item for credit card processing, they include a plethora of other fees that sufficiently blankets the extra charge. Corporate housing providers are transparent and tell you what all of the fees are upfront. Rates will include everything but the credit card fee; however, companies will clearly define it in leasing terms and upon payment.
What’s Your Time Worth?
In summary, by working with a corporate housing provider, you not only save substantial amounts of money by only paying for the days you stay, but you’ll also save countless hours that could have been spent working or exploring your new city. If you’re still unsure, ask yourself what your time is worth.
Using home sharing services, staying in hotels, or setting up an apartment on your own can be frustrating, uncomfortable, and extremely time consuming. While some people find corporate housing prices to be high, there are priceless benefits and services involved. In reality, you’re paying less and getting more. If you don’t want to put in hours upon hours of effort to find a short-term apartment in an area you love, furnish it, service it, and make it feel like home, then corporate housing is your best option. For great furnished short-term rental options, contact Corporate Suites Network. Call or email us today to learn more about Corporate Suites Network’s Chicago locations.