4 Factors That Determine What Short-term Corporate Housing Costs in 2024

Clients, bosses, and employees are being rewarded. ‘Corporate Housing’ is a special type of top-luxury accommodation solution for anyone traveling to a place under the guidance of your company. Admittedly, while these housing solutions can be short or long-term, they will almost always cost quite a lot.

This inevitably means that if you are hosting multiple parties, the event cost will skyrocket. To shed some light on the unusually high pricing of short-term corporate housing, here is our blog on the many factors determining accommodation prices for small to large companies selecting the best impression for their organization.

Factors That Influence The Price of Corporate Suites

• Location

This is by far the biggest determinant. If your selection is close to the city market, airport, seaport, commercial area, or any other economic zone the accommodation is bound to cost more even if it is tiny and simple.

Other qualities of a neighborhood (like security, restaurants in shops, visual appeal, etc) can also increase or decrease the property value of your selected space. Location is very difficult to negotiate because it directly influences the experience of the user.

• Security and Maintenance Facilities

While distinct from one another, security and maintenance are quite interdependent.

Your accommodation provider will usually charge you additionally for maintenance, and a security fee might or might not be included in it. The maintenance provider is responsible for most things happening in the area.

This includes:

• Night security and patrolling
• Privacy and security of digital data
• Documenting visitation and stay
• Emergency healthcare
• Communicating with federal authorities in case of a mishap
• Plumbing and electrical needs

Furniture and Appliances

In the case of accommodation, luxury is mostly determined by the amenities provided. A luxury stay, for example, in executive suites Nashville, is characterized by designer and high-comfort items of furniture and fittings.

• Premium drapes and carpets
• Centralized air conditioning
• Clean water in the bathroom and kitchen
• Ample closet space
• High-quality cutlery and utensils
• Modular furnishing throughout the suite
• Comfortable study desk and chair etc

to name a few.

Lease Tenure

Why are short-term executive suites in downtown Nashville the top choice for flushing corporations? Not only are they symbols of opulence because of the location and facilities, but they are also difficult to acquire because of the tiny lease tenure.

Short leases are typically far more expensive

This is because of

• Higher turnover
• Increased administrative costs (regular end-of-tenancy cleaning, renovating and re-modeling, etc
• Frequent periods of unprofitable vacancy
• Greater need for advertisement

Final Thoughts

Of course, several other factors are equally responsible for the price of any particular unit.

For example, larger units naturally cost more. Housekeeping services also increase costs, and so do in-house meal solutions ( often a basic necessity) Daycare centers or community gyms are perfect examples of additional facilities by a hotel or housing complex that make way for additional maintenance charges. While many of these facilities can be additional, accessibility — for specially-abled, mothers and physically compromised individuals — is a major issue that should be made space for. Visit Us!