subject: Condo Rental For Corporate Use [print this page] While hotels are often used for business travel, a condo rental makes much more sense for some companies. For those that have employees traveling to the same location multiple times throughout the year, a unit with a central location is cost-effective and provides a comfortable place for anyone to stay. In some cases, it can be an investment for the company.
Fully Furnished
A condo rental for corporate use is already furnished and ready for use. It contains everything necessary for someone that plans to stay over for one day, one week or even a month. Depending on the amount of use the unit gets, it may or may not already have some of the basic food essentials as well. At the end of a person's stay, the unit is cleaned up by professionals and made ready for the next person to stay.
This is a much more convenient option for most employees planning to stay anywhere for an extended amount of time. They have the ability to actually unpack and get settled. In some cases, it means that the person is able to be more productive in his or her work environment because they are able to relax in the fully furnished unit.
Makes Sense Financially
Imagine how much it would cost to put one employee up in a hotel for one night. Aside from the main cost of the room, there are taxes, and in some cases resort fees that need to be paid as well. The money is paid and aside from a room for a night, the company gets nothing in return. However, if the company owns a condo rental, they are paying the monthly fee but they are also gaining equity along the way. There are all sorts of benefits for having a company owned property.
Company Owned vs. Housing Companies
There are larger housing companies that out an arrangements with corporations to borrow their condo rental. They set up locations around the United States and in some cases, around the world. Different entities can call up and make the necessary arrangements over the phone. In some cases, the corporation pays a monthly or yearly fee and they are guaranteed a certain number of stays in various locations.
Is a condo rental the best decision for a corporation? Most of the time it depends on a number of different factors including how often it will be used and how much it is costing the company. One of the benefits is that the employees have more than just a hotel room to stay in. For those making an extended stay, it is nice to have the various comforts of home. In addition, a company owns the property and has the ability to resell in in the future if they deem it necessary.
